Choosing a Business Credit Report Service
Companies large and small that rely upon extending and receiving credit from banks and other businesses know the importance of accurate business credit reports. Business credit reports provide critical information about potential and current accounts that a company needs to know before extending credit. But many credit risk managers may be unsure how to choose a business credit report service. Among the many competing services, what are the most important criteria?
The first step is to understand what a professional business credit report needs to include. Poor-quality credit reports may be incomplete, inaccurate, or contain outdated information. Using such reports can be disastrous and can lead to expensive business mistakes when accounts that looked reliable suddenly default or even go bankrupt.
To meet the highest professional and ethical standards, a business credit report should include data from:
- Chambers of commerce
- Company houses
- Company interviews
- Marketing firms
- Banks and lenders
- Principle suppliers
- Financial administrator
Data from these sources must be carefully filtered and cross-checked. Once put into context, it becomes useful information that covers a wide range of areas:
Business information
- Corporate registration and contacts
- Key facts about the business
- Key management and board personnel
- Shareholder and stock information
- Business background
- Balance sheets
- Comprehensive financial information
- Banking, insurance and leasing information
Credit information
- Credit risk factors
- Banking, trade, and collection history
- Past liens, judgments, business registrations and bankruptcies
- Detailed financial payment trends
- Uniform Commercial Code filing information
- Credit inquiries made in the last nine months
Credit evaluation
- Credit ranking score
- Credit summary
- Predicted payment behavior
To deliver a product of the highest quality requires a credit risk management company with a solid track record and comprehensive resources including:
- Availability of an instant online report of the subject detailing payment behavior, shareholders structure, balance sheets, the risk category, and credit recommendations.
- 24/7 access to multilingual customer service representatives who are fluent in major world languages.
- A global database with millions of online business credit reports.
- Up-to-date reports available for any country in the world.
- A consistent and easy-to-read report format.
- No up-front fees and no long-term commitments.
- Low cost that will translate into savings on bad debts and slow collections.
- A client reference list including Fortune 500 multinational companies.
By utilizing a professional credit reporting service to monitor a partner or supplier’s company credit profile, credit risk managers save their companies money and reduce the costs of chasing bad debts and scrambling to find new clients when, suddenly, a client that is presumed to be solvent suddenly goes bankrupt. A professional business credit report service becomes a partner who can help your company grow, reduce costs, and move ahead without paying the penalty of bad business decisions.
Credit Risk Manager
Credit Risk Manager is an initiative of Graydon International, a subsidiary 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 is a business credit report service that offers both personal customer service and access to a large, global database. Getting a high-quality online credit report from Credit Risk Manager is easy, fast en affordable.
With this business credit report service, you are just three clicks away from a report. Simply enter the name of the company, the country and the city it is based in to get quick and easy access to reliable business information from Credit Risk Manager.