Refidomsa + CIAL: 102% increase in credit approvals with CIAL360 Credit
Refidomsa is the leading supplier of petroleum products in the Dominican Republic and one of the most important companies in this Caribbean country.
Streamlining their credit decision-making process was a priority to avoid delays, and thanks to CIAL360 Credit, they exceeded their expectations for optimization in credit decision-making.
Outcomes
Growth of 2x in credit approvals
117% increase in new lines of credit
Immediate credit approvals
Company History
Refidomsa (Dominican Petroleum Refinery) is one of the most important companies in the Dominican Republic and the Caribbean.
As the country's main refinery, it plays a crucial role in supplying fuel and petroleum products. It also has a direct impact on the country's energy and economic stability, contributing significantly to the economic development of the Dominican Republic.
Pain Point
Refidomsa faced significant challenges in tracking and efficiently managing new credit requests and updates.
The process was complex, involving multiple steps and manual interventions, which delayed decision-making.
Credit analysis used to be a completely manual process. Everything was written from scratch by hand. Indicators were defined one by one, comments were added, and all that work was done manually.
Yuleismy Nivar
Refidomsa Credit and Collections Analyst
Currently, the indicators and other aspects of the analysis are generated automatically. The report includes more information and additional features, such as details about key executives and other relevant data.
Yuleismy Nivar
Refidomsa Credit and Collections Analyst
Solution
With CIAL360 Credit, Refidomsa found a solution to automate its evaluation process, going from taking 3 days to upload the necessary financial information to having it instantly available on the platform.
This made managing and decision-making for credit requests easier by centralizing all the necessary documentation and data in one place.
Results
Refidomsa was able to double its new loan approvals, upgrade its existing credit lines by more than 89%, resulting in a total of an impressive 102% increase in total credit approvals.
This progress was possible thanks to the implementation of CIAL360 Credit, which not only improved efficiency and responsiveness, but also generated significant financial benefits through more effective credit management and decision making.
Growth of 2x in credit approvals
117% increase in new lines of credit
Immediate credit approvals
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