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business credit

 

BUSINESS CREDIT

PRODUCTS & SERVICES

shutterstock_1688908516 Know your potential client's credit history.

Overview

When evaluating business credit, the ability to make the right decisions is only as good as the data driving those decisions. Since past and current performance is highly indicative of future risk, Data Facts partnerships enable us to provide business credit reports with the detailed insight required for you to make wise business decisions. 

Our business credit solution is current, objective, and cost effective with the flexibility you need to minimize the risk of your accounts receivable portfolio.

Business Credit Report Solutions

With offerings from Experian, Equifax, D&B, Trans Union, & Credit Reports World, we provide Credit Risk Managers powerful information that minimizes business risk quickly and cost effectively.

  • Increase your ability to monitor multiple accounts.
  • Check credit worthiness of sole proprietorships with the same ease as corporations.
  • Protect your company’s financial health from clients who won’t pay their bill
  • Reach decisions on extending terms faster
  • Gather information beyond credit references supplied by the prospective client
  • Decrease time spend trying to collect money

Commercial Reports

Premier Profile -The most robust of all of Experian’s business credit reports, this report provides a comprehensive view of a business’s financial obligations as well as fraud screening, credit limit recommendations, more background information on the business, and more data.  This comprehensive business report is designed to help facilitate better decision making.

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Business Profile -This report provides a current, objective picture of how a business handles its financial obligations, including detailed trade, public record, collection, and background information-  a complete commercial credit report on over 27 million businesses worldwide. 

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Intelliscore Plus - Expedite the credit decision process with predictive credit risk scoring. As the strongest commercial risk model to date, this all-industry product uses business information for blended business and consumer information to predict the likelihood of delinquency within 12 months.

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Business Summary -  A low cost, summary report designed to help you make sound decisions on questionable smaller accounts. This report is frequently used to help verify whether a business is active and/or legitimate. Its credit summary allows users to make quick assessments on low-balance account transactions.

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Business Owner Profile - This credit profile on a business owner provides a comprehensive look into the owner’s financial status.

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Portfolio Scoring

Implement Experian’s Intelliscore models in batch mode to assess the risk of your entire portfolio as well as each individual account. Receive an objective, statistically accurate, third party evaluation of your accounts receivable portfolio by utilizing Experian's Intelliscore Plus model. By more fully understanding the inherent risk levels of a portfolio, you will be able to set more accurate sales and credit guidelines.

Account Monitoring

Proactively monitor your business-to-business credit portfolio and view changes to your customers' credit profiles. Manage risk better, effectively allocate resources, improve cash flow and develop stronger customer relationships for greater profitability.

Manage your credit portfolios before they manage you. Establishing proven portfolio management practices is critical for every company, especially those that depend on more vulnerable small businesses, where financial resources often are limited.

Account Monitoring Service offers a comprehensive monitoring system to meet your needs for expanded triggering capabilities, enhanced filtering, greater flexibility, ease of use and more.

A key to Account Monitoring Service is its comprehensive trigger set, which informs you of significant negative and positive events in your customers' credit profiles. This allows you to indicate future risk and signal up-sell and cross-sell opportunities.

  • Score changes
  • Payment behavior changes
  • Public record filings, including bankruptcy, liens and judgments
  • Collection filings
  • Changes in key payment ratios
  • Delinquent accounts
  • Inquiries

Technology

Business IQ - Intelligent Decisions

BusinessIQ provides credit professionals with an integrated, easy to use, web-based interface to Experian information, including analysis and decisioning tools designed to maximize the benefits of the information across the lifecycle of your customers.

The platform is organized into the following modules: 

  • Core Credit - Accelerate your research and quickly pull credit reports & scores. Find the business you need to pull a report and make a credit decision, while proactively monitoring the health of your entire portfolio.
  • Decisioning - Set up a credit policy and receive consistent credit decisions. Also provided are recommended credit limits.
  • Alerts - Check for alerts on your monitored accounts under the alerts tab. Triggers will be delivered back to you based on your threshold settings.
  • Portfolio Analysisis made up of six (6) sections:     
  • Summary and Performance is made up of Indicators, Credit Limit, Credit Utilization, Total Balance, Delinquency and Outstanding Balance at Risk.
  • Risk & Aging is made up of the Intelliscore, Days Beyond Terms (DBT) and Delinquency/Aging.
  • Concentration is made up of Industry, Geography/Region, Size of Business and Years in Business.
  • Trends are made up of the Intelliscore, DBT, Credit Limit and Credit Utilization.
  • Exposure is made up of a list of companies with Corporate Linkage.

Collections - Combines the researching capabilities of the Collections Recovery Tool (CRT) with the targeting capabilities of the Delinquency Notification Service (DNS).

*Pricing is based on volume and a number of other factors.  Please contact sales at 800-264-4110 or info@datafacts.com to get a quote for your specific needs.

 

 

FAQs

Are the regulations the same as consumer reports?
No they are not. Business Credit does not have the rules that consumer credit has.

Do I have to have permission to use a B2B report? Do I need a signed credit application?
No you do not but you should have a genuine interest in doing business with the company that you are checking on, or attempting to collect a past due bill/debt.

Am I only going to receive trade data?
You will receive Identifying information, Matching name and address, Corporate Linkage (if available), the credit score, collections, Tax Lien, real-time Judgments and Bankruptcy Information. Monthly payment trends and the industry DBT to make a comparison, quarterly payment trends, inquiries, UCC Filings, if any are cautionary. Banking, Insurance Bond, Company Background and Key facts information.

How often is your Bankruptcy information updated?
Our Bankruptcy information is updated daily.

How often is your Collection information updated?
Our Collection information is updated every 3 days.

Can we set our account up to get daily alerts?
Yes, you can receive daily alerts on changes to your current customer’s credit portfolio.

 

 

 

 

 

 

 

 

 

 

 

 

You guys have the best service EVER!

You guys are the best and I appreciate all you do to help us daily. I appreciate you all so much. You have worked so hard to meet my requests so don’t think they go un-noticed.. Thank you so much!!!

Credit Manager

National Equipment Leasing Company

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Need help to find the perfect solution for you?

For more information, to discuss your unique needs with a product specialist, or to request an estimate, connect with us.

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