Energy Credit Best Practices – Chapter: Information Technology http://ccro.org © Copyright 2022, CCRO. All rights reserved. 11 1.4.6 Flexible & Innovative The entire credit IT system should be flexible to accommodate the Credit Group’s evolving business needs. This includes the ability to adapt to shifts in markets, strategies, and rules. It also requires the ability to innovate using new tools and techniques. As energy business markets and technology continue to evolve at an ever-increasing rate, IT and Credit Groups must remain flexible and adaptive to these changes. Many of the changes, including automation, cloud computing, predictive analytics, and other advanced IT tools, represent a real opportunity to innovate and improve. For example, the automation of real-time (or near real- time) batch processing not only improves data accuracy by eliminating human error but also provides more timely data, reduces labor costs, and allows for personnel to focus on more value- added work. Other credit operations benefit from innovative uses of technology include real-time or near-real- time visibility into accounts receivable balances, company Liquidity levels, and changing credit scores. See below for a further discussion on advanced technologies impacting energy credit operations.