Business Credit Report Basics
Business owners know that in order to manage the risk of extending credit to clients and business partners, they must obtain reliable and accurate business credit reports on a regular basis. In today’s global economy there is no other way to dependably assess the creditworthiness of accounts and to minimize risk. To extend credit to an unqualified account is a serious mistake that can lead to financial disaster if and when the account fails to pay. Making good credit judgments is especially important during the current economic crisis.
An accurate and objective business credit report reveals key information needed when making sound business decisions about extending credit. And in today’s global marketplace, it is not possible to personally inspect a partner’s facility at a moment’s notice. The global entrepreneur needs a window through which can be seen, in close detail, the operations of the business partner located on the other side of the globe. Credit Risk Manager is this window.
Credit reports from Credit Risk Manager contain comprehensive and reliable information, including:
- Important facts about the business
- Official company data, company identification details
- Financial information including profit and loss, balance sheets
- Names of management
- Payment behaviour
- Creditline recommendations, including historical rating
- Details and summary of mortgages, charges and satisfactions
- Share capital
- Key industry sector trends
- Financial summary
But how does this information help? The data on the business credit report is necessary to evaluate the risk associated with extending credit to a particular account. With a business credit report, the credit risk manager can:
- Decide how much credit to extend to a company
- Evaluate the business risk of terms and credit levels
- Keep tabs on the creditworthiness of current customers
- Know what to expect based on an account's past payment history
- Determine if further investigation is needed
- Be alerted to major changes at a company, such as change of leadership.
Why choose Credit Risk Manager?
When ordering a business credit report, choosing the right provider is critical. Receiving information about the credit status of key business relationships needs to be affordable, easy, and convenient. With Credit Risk Manager, you are just three clicks away from a business credit report. Credit Risk Manager is an initiative of Graydon International, which is one of the subsidiaries of the Graydon group. This group 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 business credit reports. Credit Risk Manager continuously filters and cross-checks all its business data for accuracy. Business 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.
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 a business credit report from Credit Risk Manager.