The Importance of Business Credit Ratings
Companies that seek credit from lenders, or give credit to accounts, are part of the vast global network of commercial borrowers and lenders. Every day, among the millions of businesses that operate in every corner of the world, billions of dollars in cash are loaned, and goods and services worth billions more are provided on credit. To keep this high level of commercial activity moving smoothly, companies must have a commonly accepted method for evaluating the creditworthiness of commercial enterprises. It is impossible for individual companies to make credit determinations on every trading partner. The solution is to use business credit ratings.
Financial Information is Key
In today’s global marketplace, business moves at a fast pace. Decisions must be made quickly. Competitors do not rest, and if you hesitate to act quickly the result can be disastrous. Sound business decisions require data that is filtered and packaged into usable information. But what if decisions involve partnerships with companies located thousands of miles away in foreign countries in which different languages are spoken? How can a responsible manager possibly gather objective financial and management information about prospective partners? Fortunately, thanks to Credit Risk Manager, the manager or risk management officer can access a professional and objective source of business and credit information about prospective partners. Credit Risk Manager's online credit reports provide quick and easy access to business credit ratings. This information is critical to good decisions.
Reliable business credit ratings from Credit Risk Manager
Credit Risk Manager is an initiative of Graydon International, one of the subsidiaries of the Graydon group. Graydon has a history of more than 120 years in credit management, which is reflected in its global database. Through Credit Risk Manager, businesses can access 130 million online credit reports. Credit Risk Manager continuously filters and cross-checks all its business data for accuracy. Online credit reports from Credit Risk Manager cover every critical area and contain the Graydon Rating, a business credit score you can trust and rely on. The Graydon Rating consists of a number and a letter that tell you how a company ranks, both on an absolute scale and against other businesses.
Your Business Credit Rating
When your company applies for a loan or for credit, your good business credit rating serves as assurance to your creditors that you are a good credit risk. Maintaining a good credit rating is important, and your company does this in three ways:
- Being fiscally sound and paying all debts on time
- Reporting all favorable data and changes to a credit reporting agency
- Requesting your company’s credit reports, examining them, and having erroneous information deleted.
The third way -examining your own credit report- helps both you and the credit reporting agency. While you cannot remove negative credit information, you can remove any information that is demonstrably incorrect. By doing this you not only help yourself and improve your credit rating, but you also help keep the credit reporting industry accurate and ethical.
You are just three clicks away from a report with reliable business credit ratings. Simply enter the name of the company as well as the country and the city it is based in to get quick and easy access to reliable business information from Credit Risk Manager.