Cycle time in days for credit approval

This measure calculates the average number of calendar days (including weekends) it takes to receive credit approval. It is a Cycle Time measure that helps companies analyze the duration of the "process customer credit" process from beginning to end.

Benchmark Data

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Measure Category:
Cycle Time
Measure ID:
100561
Total Sample Size:
1,823 All Companies
Performers:
25th Median 75th
- - -
Key Performance Indicator:
Yes
Sample image showing interactive filters for more detailed measure peer group data and an interactive graph.

Compute this Measure

Units for this measure are days.

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Cycle time in days for credit approval

Key Terms

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Cycle Time

Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.

Median

The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.

Measure Scope

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Cross Industry (7.3.1)

  • 9.2.1.1 - Establish credit policies (10789)
  • 9.2.1.2 - Analyze/Approve new account applications (10790)
  • 9.2.1.3 - Analyze credit scoring history (14187)
  • 9.2.1.4 - Forecast credit scoring requirement (14188)
  • 9.2.1.5 - Review existing accounts (10791)
  • 9.2.1.6 - Produce credit/collection reports (10792)
  • 9.2.1.7 - Reinstate or suspend accounts based on credit policies (10793)