Credit reports are your “main protection” when extending terms to new clients, and increasing, or decreasing terms on current clients.
Deciding on whether to extend credit to a potential customer, increase the credit line of a present client, or to stop selling to one is by no means an easy decision in today’s uncertain economy. Credit reports enable you to evaluate if you are going to get paid, which is the bottom line. The credit reports demonstrate the company/owner’s management proficiency. Are there any bankruptcies, state/federal tax liens, judgments or are there any collection accounts past or present? How are other suppliers paid? What are the historical payment trends? All questions that need to be considered before saying YES, or before setting the credit limit of a new client.
Our professional credit reports, from all of the major agencies, provide comprehensive business credit information on more than 24 million businesses. Their reports include highly predictive credit risk scores built on trade credit, public record filings, and banking/leasing payment history. Also available are consumer and commercial blended solutions for a more complete picture of the business credit risk. They also provide valuable avenues to monitor and manage your account portfolio to help stop losses and improve your cash flow.
