Simpler, More Comprehensive Risk Management
Pro-Tech Interconnect Solutions is a manufacturer of high-tech circuit boards, specializing in rapid prototyping to medium-volume production. Their customer base ranges from the military to homeland security to aerospace and medical companies. With tight timeframes and high-tech products, a customer’s bill can add up quickly, so monitoring the credit risk of those customers is an important management function.
Pro-Tech’s CEO Dave Koebele said the company had been using a business credit rating service to monitor its customers’ credit ratings and thought that it was adequate, so he wasn’t looking for an alternative. Pro-Tech’s bank was considering using Argos Risk Surveillance and wanted someone outside the bank to give their banker feedback, so they asked Koebele to try it. He agreed under the assumption that he was simply performing a courtesy for his bank, not actually looking at a product for Pro-Tech’s use. Once the trial was complete, he’d continue monitoring risk solely through their current credit rating service.
Instead, the trial opened his eyes to the comprehensive information provided by Argos Risk Surveillance that was not available through his previous risk monitoring process. The depth, range and timeliness of the data from Argos was far beyond what he saw from the existing service Pro-Tech was using.
"There’s so much more data behind Argos Risk Surveillance’s alerts. And it comes to us. We don’t have to go out and request it, the way we did with the credit rating service." - Dave Koebele CEO, Pro-Tech Interconnect Solutions
THE SOLUTION: Argos Risk Surveillance
A year and a half later Pro-Tech is now a full-fledged, enthusiastic customer of Argos Risk Surveillance. “We liked what we saw,” said Koebele. “It’s such a flexible system. You can scale it for as many accounts as you want. We can conduct ongoing monitoring on a customer, or just do a spot-check.”
The trial he did for the bank convinced Koebele that the basic credit rating service they had was no longer adequate. “There’s just so much more data behind Argos Risk Surveillance alerts,” he said. “And they come to us automatically. We don’t have to go out and request it, the way we did with the other service.” Information requests would occur if he had reason to believe there was a problem, and if he wasn’t aware of anything going wrong, he wouldn’t have a good reason to investigate. But problems can materialize overnight, and waiting for information to trickle in weeks later that might spark a manual investigation could mean receiving those reports when it’s too late to take action.
“Argos Risk Surveillance has better data,” he said. “It has far more breadth.” While he’s focused on the critically important functions of his role at Pro-Tech, Argos Risk Surveillance collects more than 100 pieces of data to monitor his customers. The monitoring system immediately notifies him if there are issues that need to be addressed, as soon as they happen, as opposed to waiting days or weeks.
Currently Pro-Tech monitors numerous customers, whom Koebele notes range from moderate to high-risk firms. While so far there have been no crises, he likes the ability to keep close tabs on the higher-risk accounts, and knowing that he’ll be proactively notified if something changes long before he’d see it on a credit report.
He also appreciates the easy-to-use system. Argos Risk Surveillance is a dashboard that color codes risk as follows:
- Green: the customer’s financial health appears stable and healthy
- Yellow: indicates either a company has improved from a red status, or it’s been downgraded from a green and needs closer monitoring
- Red: indicates that a company needs closer attention
PRO-TECH AND ARGOS RISK:
Risk Management - Proactive Rather Than Reactive
Koebele would recommend Argos Risk to other businesses that don’t have a fulltime staff devoted to risk monitoring. From his own experience, and to his surprise, he found that Pro-Tech’s original risk management solution was not nearly as comprehensive or timely as what Argos Risk Surveillance provides. With Argos Risk Surveillance, he now has an affordable risk management solution that is significantly more robust, with a greater variety of resources, plus he receives timely information so he can be proactive rather than reactive for his business.
Pro-Tech Interconnect Solutions
Chaska, MN 952-442-2189
Pro-Tech Interconnect Solutions was founded in 1968, and in 2002 was purchased by a group of Honeywell executives with extensive experience in the printed circuit board industry. The group remains passionate about cutting-edge technology as well as customer service, offering support all the way from rapid prototyping to medium-volume production. Its customer base is primarily in the U.S., but it does have international accounts as well.
In addition to manufacturing, Pro-Tech also offers engineering services. In order to stay at the top of its field, Pro-Tech continues to invest in high-tech solutions and equipment. Its 120 employees run a 7-day-a-week manufacturing schedule to meet customers’ time-critical requirements.
Interview conducted in 2013