Credit Checking Service
Information Is Key
What's The Risk?
A lot of businesses still don't carry out credit checks on potential or existing customers.
Granting credit is a great way to attract new business especially if your competitors don't. Simply put buyers of your service or product love credit as it allows them to have the benefit now and pay you later.
One of the BIGGEST risks often seen is not carrying out a company credit check on potential or existing customers.
You must carry out credit searches if you want to:
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Have better cash flow by avoiding late payers.
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Reduce levels of bad debts.
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Minimise the risk of fraud.
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Offer credit based on the latest information and supplied by various sources.
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Make profitable sales ensuring your business grows and survives.
In addition to customers it is good practice to credit check your suppliers especially if they are asking for payment in advance. Consideration should be given to the potential business disruption should one of your major suppliers fail, carrying out a credit check will help you assess their financial stability.
Make Informed Decisions
Whilst you can never guarantee against experiencing a "bad debt" you can take action to reduce the risk of it occurring. Our credit reports allow you to quickly make the decision to extend credit to your potential customers or suppliers.
Reports contain the following key information:
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Credit score
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Recommended credit limit
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Who is behind the business and how long it's been trading
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If the business is financially sound
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Up to 3 years annual accounts
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Group structure - Parent company
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Director Information
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Registered office - when incorporated
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How well they pay other suppliers
We can provide a single report or review your complete debtors ledger, we have a service to fit all needs.