commercial credit reports

Vigilante is guaranteed to change how you analyze your receivables portfolio.


You now possess the power to:
  • See what trends are occurring across the accounts receivables of your industry and others.
  • Have the ammunition you need to protect yourself from any progressing economic payment trends in your industry.
  • Benchmark. You can now see whether your A/R portfolio performance is stronger or weaker than your industry and others. It will give you a clearer picture of where internal improvements are needed and how to increase profits.

Ansonia Vigilante — the A/R Portfolio Management Radar

Read on and we’ll show you why Ansonia Vigilante is the 21st-century accounts receivable portfolio tool.

Vigilante guards against bad credit risk and helps to preserve your company’s hard-earned bottom line. Not only does it save you an enormous amount of time, but it can also help protect you from financial losses.



What tools do you have now to review and analyze your receivables portfolio?

Are you happy? Sure, your in-house system can spin the data in a thousand different ways. It seems to be working just fine, or so you think…

But what if you could tap into an outside business credit database that:
  • is continuously updated in real time?
  • is a true global database of over 7 million businesses?
  • updates daily to over 25 million account activities?
  • contains over $700 billion in trade A/R data?

What if you could take your receivables data and instantly compare it to real-time receivable data from your industry, or every industry that does business with your customers?

What if you could customize the data any way you want, with just a click of a button?

Wouldn’t you love to be able to quickly identify potential risks and be able to take immediate, appropriate action before things get out of hand?


Is your head spinning with ideas on what you could do with an analytical tool like this?

How about benchmarking your receivables portfolio performance? The most forward-looking and profitable companies tend to be those companies that continually ask themselves:

  • How do we compare with others?
  • Are we using the best practices?
Ansonia Vigilante is the only business credit data tool that helps do all this and more.

Ansonia Vigilante is the only product that allows you to see how your customers are performing within your receivables portfolio versus your industry, and any other industry doing business with your customer. This is all done with a click of a button.


Vigilante has several analytical categories to make comparisons with such as:

  • Top 20 account balances - 90 day trending
  • High Risk Accounts
  • Watch List

…and many more. You can easily customize for any criteria you need. And with a click of a button you can drill down even deeper. This opens up all sorts of new analytical possibilities that haven’t existed in the business credit arena – until now!


  Possible Scenario #1

Your business is being paid on-time, so there’s no reason to review the credit on an existing customer, but the 90-day trending with other industries shows serious weakening in Days-to-Pay.

Vigilante can put a customer on your radar you would not have otherwise known about. Slowing payment trend to other creditors = potential FUTURE at-risk accounts and write-offs.


  Possible Scenario #2

Your sales department just processed a large order last month for one of your customers who has been inactive for the past 4 months. A quick query in Vigilante identifies any customer with a zero balance the prior month, and provides 90-day payment information from your industry and others.

If the trend is negative, you can immediately remove your existing credit line so additional orders do not ship. Effectively, Vigilante has just identified the “needle” in the haystack.



Powerful, huh?


Wait, that's not all.

You can now easily identify accounts that are trending slow and compare them to industry trends. By benchmarking your receivables portfolio to your industry and/or other industries you can immediately get a good, complete look at how your credit and collection department is performing.

If your industry competitors are all getting paid within terms, it could mean you simply have some internal paperwork issue:

Are invoices getting rejected for billing or dispute errors?

Are you sending invoices to the right place?

Are checks getting posted in a timely fashion, etc.?

Don't let your auditor surprise you with bad news.

Vigilante will help you identify these costly errors and improve your accounts receivable processes.



ansoniahighfive

You’ve Just Become A Hero!

Bottom Line — the faster you can approve sales and collect your receivables, the less money you have to borrow, which translates into less interest paid, which means more profits.

We can give your company new insights into managing your accounts receivables and making more profits year after year.

Let Vigilante be your 24/7 “radar screen” for alerting you to A/R trending changes and high-risk payment behavior. Vigilante will help your A/R analysis and prioritize your portfolio to collect money faster, lower bad debt, and streamline cash flow.


Vigilante Case Study

You often hear the token bit of advice “keep it simple” and that is exactly what Ansonia Credit Data aims to do with its accounts receivable analysts’ tool, Vigilante. Ansonia gets straight to the point and shows you the information you need.

Jeff Paschal, Director of Credit at Premier Trailer Leasing, emphasized how beneficial the Vigilante program has been in helping his business get down to the critical data and keeping complex information simple. This makes monitoring risk and making heavy decisions easier. As Paschal says, “you get all of the facts, none of the fluff”.

Become one of the new, smart business owners who use Ansonia Vigilante and get a leg up on your competition.


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Contact Us Today And Take Control Of Your Accounts Receivable.

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Receivable Portfolio Analysis Articles

 

Analyzing Your Customer Portfolio

 

Companies have much to gain by analyzing their customer portfolio. It is through this analysis that they can determine how each and every customer segment fits within their business goals.

 

Some of the advantages of analyzing the customer portfolio of a business can be to:

 

Help business managers think more strategically and futuristically; which ultimately helps them more fully understand the economics of their business;
Improve communications between sales/marketing management and credit departments;
Change (if necessary) and grow the quality of their business plans;
Pinpoint any information gaps and highlight important issues; and
Strengthen the investment of the company in its promising customer segments, and to eliminate weaker customers.
The company can then segment their customer base according to the attractiveness of their customers when compared to other market segments in the economy. This will enable the business to identify markets segments that will provide valuable opportunities for growth and profit. A comprehensive business universe benchmarking database is required for this part of the analysis in order to identify interesting prospect firms within the market segment.

 

Armed with this analysis a manager who is responsible for managing the credit risk of a customer base now has the information and the ability to do so much more, and to use their influence beyond traditional boundaries. It is vitally important that the knowledge gained through this analysis be communicated to other parties within the organization, such as senior management and sales and marketing teams.

 

It is often thought that credit managers have relatively little influence over both the direction and growth of a business, and portfolio analysis is the ideal communication tool for breaking down this misconception because the analysis summarizes the performance, dynamics, and overall composition of the customer base of a business .

 

Besides the fact that the analysis of market and prospect segments clearly articulates the credit challenges faced by a business, it is also a great tool for influencing discussions on the strategic direction a business is taking. The key to analyzing the customer portfolio of a business is to ensure that all available resources are used to improve the most precious asset of a business, which of course is its customers.

 

 


You Can Find More Information at www.ansoniacreditdata.com/

Call Us Today at: 1-855-267-6642

Receivable Portfolio Analysis Articles

 

Receivable Portfolio Management Analysis

 

The only way to successfully manage any process is by controlling and measuring that process. When it comes to managing the credit process, the credit executive of today must analyze the entire receivables portfolio, which is well beyond traditional customer analysis. This stands true for both the management of the accounts receivable portfolio as well as the production of any goods or services.

 

Today we still see many firms focusing solely on the number of customers they serve, and while this is certainly an important aspect of operations planning, they are not giving enough attention to the risk and profitability associated with each group of their customers.

 

Measuring the Most Important Asset of a Company

 

We can measure the performance of the most important asset (its customers) of a company along several dimensions by simply applying the concept of Portfolio Analysis to the accounts receivable of a company.

 

We know that photographers and such will often prepare a portfolio of their work to show to prospective employers or purchasers. This term, portfolio, can also be used to describe loans advanced by a bank or the collection of financial instruments held by an investor. When referring to financial services, the challenge with Receivables Portfolio Analysis is to categorize the mix of investments appropriate to the resources of the company, needs, and risk preference. The contents of this portfolio should alter over time, in direct response to changes in customer preferences or the performance of individual portfolio elements.

 

Using Accounts Receivable Portfolio Analysis to Understand the Risk Exposure of a Company

 

At any point in time a credit professional will be able to understand the exposure to risk of the company by using Receivable Portfolio Analysis in order to analyze the accounts receivable. This analysis helps determine what types of customers the company should be seeking to serve, and which business segments are the best fit for both the capabilities and the mission of the organization. When determining which markets the company should serve, this service provides invaluable information that can be used for that organization.

 

Receivable Portfolio Analysis is simply a great planning system: it provides information that can be used when making strategic business decisions, helping to both minimize bad debt and maximize long-term earnings growth. Besides encouraging the management of the firm to appraise their business along many dimensions on an aggregate basis, while management is planning for growth, it specifically raises the issue of cash flow implications. Portfolio Analysis offers management the proper tools for evaluating each business segment in the context of both its unique contribution to the goals of the company as a whole, and its environment.

 

Evaluating the Potential Value of Your Customers to Your Business

 

Receivable Portfolio Analysis addresses the very important issue of the potential value of a particular customer to a company. There are two variables to this value: the first variable is the potential for generating attractive earnings levels right now, and the second variable is the potential for growth in the future; meaning significantly increased earnings levels.

 

The management of any organization needs to understand their current set of customers, and how promising they are with respect to long-term return - in addition to understanding which customers should be developed and which should be liquidated. Using the approach of Portfolio Analysis, management can simultaneously compare different customers, thus leading to a targeted marketing focus. The importance of risk management and cash flow as strategic variables are also underlined.

 

Receivable Portfolio Level Decisions Means Looking at the WHOLE Picture

 

One of the primary responsibilities of a credit executive is to control the credit risk of an accounts receivable asset. The process of risk management is to judge individual firms and assess both the opportunity and the risk associated with those firms: it also includes the establishment of credit lines and terms, and carefully monitoring customer relationships for the mutual benefit of both the organization and the customer.

 

Determining the risk preference of a firm means working out how much risk it is prepared to take when granting credit to its customers. Classifying customers on a multilevel scale offers a comprehensive approach to risk management: excellent customers are placed at one end of the spectrum, with marginal customers at the other end. The marginal customers of a firm would be placed under review more frequently than customers considered to be excellent or good accounts; which means that more emphasis would be placed on those accounts that require attention. These one-at-a-time evaluations are known as transaction-level decisions.

 

The credit manager is also responsible for establishing the collections and credit policies of the firm: these will be general courses of action developed for recurring situations. Their aim will be to achieve established objectives within the credit function, with these rules being applied across a broad group of customers. Establishing and defining effective collection and credit policies are considered to be portfolio-level decisions; decisions that involve taking a step back to look at the whole situation, not just the daily examination of individual customers.

 

The Disadvantages of Not Having an Established Credit PolicyWhen a firm has no established credit policy it means that each and every credit decision stands alone and that each person within the firm who is responsible for credit decision-making will be operating in isolation. With no established protocol, there is no way of learning from the collective experience of a group or the acquired judgment of the most experienced members of the credit team . Alternatively, a well implemented and consistent policy ensures that the same errors are not repeated over and over again and that valuable resources are not wasted on decisions that could well be quickly made on the basis of documented experience.

 

Having a well thought-out policy allows a firm to systematize and apply its principles. And, over time, refining the credit policy allows for the firm to adapt to changing markets and conditions. The collection policies of the firm also need to evolve, and these will be based on the changes in the composition of active customers and their payment performance. All successful credit professionals understand that both these decisions are made in tandem and that over time they reinforce each other

 

The Duties of a Credit ManagerFor a Credit Manager to be effective at managing the risk and opportunity of the customer base of a firm , it is very important that both are done well. One could compare these tasks to those of the General Manager of a business who is required to make both strategic and tactical decisions - both of these decisions are equally important and, in order to be reductive, they must work together. However, the focus of many credit professionals is heavily weighted towards the day-to-day transaction-level decisions, leaving the development of important skills and resources required to improve portfolio decisions to an unsatisfactorily low priority.

 


You Can Find More Information at www.ansoniacreditdata.com/

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Receivable Portfolio Analysis Articles

 

The Concept of a Receivables Portfolio Analysis

 

A credit professional can use information gained from the accounting records of customers together with information provided from other sources, such as input from sales, marketing, and finance departments, to stratify the customer database of a firm into meaningful segments.

 

Let us look at a typical company: The following information should be readily available from the accounting records of a typical firm, product line, gross margin dollars and percentage, sales, geographic location, and the industry sold to. Credit Score is yet another important element of portfolio analysis. There are two ways of obtaining the risk score of a customer from a third-party vendor: by purchasing a credit scoring system or requiring the credit risk score for each customer, or by manually developing one yourself.

 

A credit scoring system offers a company the ability to clearly define parameters by which credit lines will be established. One of the main advantages of a credit scoring system is that the uniqueness of an industry can be built into the decision matrix. The scoring system demands consistency in the credit review process; with either of these methods able to be integrated electronically into the customer accounting records.

 

The credit function is capable of adding significant value to the organization by simply categorizing this data into meaningful data sets. This means that the company is able to evaluate its credit policy and preference for risk in real time. Now the credit professional can use this analysis as a global view of the day-to-day tactical decisions of a firm. This process combines data from both third-party suppliers and the accounting records of the customer. Using decision matrices, this information is processed and segmented into meaningful data sets. This is an ongoing process, producing information that is used to develop both marketing tactics and credit and collections policies.

 

Producing Successful Segmentation Analysis

 

In order to produce successful segmentation analysis, there are two key processes. The first is locating the characteristics that consistently improve the process of identifying the appropriate risk class. This approach requires comprehensive segmentation analysis of the customer base which, in terms of sophistication, can always be improved on. To start with, your customers must be categorized according to their basic demographics, meaning where they are located, who they are, what industries they operate in, how large they are, and how old they are. Once this information is at hand, the next step is to search for differences in cash flow performance; which means that you will be identifying high performing segments from low performing segments based on risk, payment patterns, and gross margin contribution. This basic analysis often yields great insights into how to improve marketing strategy and credit policies.

 

Your Customers and Their Risk to Your Business

 

Each customer (or potential customer) of your firm does not represent the same opportunity and/or risk to your business. They differ greatly in terms of their risk of slow or non-payment, and the resulting delinquency or bad-debt carrying costs that may be incurred. And, of course, prospects and customers also differ in terms of their importance to the sales of your firm, like: Are they likely to buy? In what volume will they buy, and will they be repeat customers?

 

If, in this world of diverse firms, you were to treat all your customers the same when it comes to risk and opportunity, you would be guaranteeing lower productivity in addition to sub-optimizing the financial performance of your firm. So you can see that, depending on their attractiveness to your organization, it makes good business sense to treat all firms differently.

 

For your best customers, meaning those who are low risk with high sales potential, it makes perfect sense to have liberal credit lines, to allocate more customer service and sales resources, and to structure any collection actions with the main focus on sustaining a long-term relationship.

 

On the other hand, for higher risk customers with lower sales potential, there is a call for tighter credit terms and lines, considerably fewer sales and service attention, and collections activities that are more aggressive for these less-attractive customers.

 

Understanding Both Your Organization and Your Industry

 

An understanding of both your organization and the industry within which it operates will provide the basis for determining the parameters to be measured. Risk and profitability are two key aspects that must be measured, and these attributes must be measured in the aggregate and by meaningful segments.

 

Segments that are usually measured include the product line, the industry sold to, geographical, and payment performance over a period of time. A true understanding of the customer base of the firm can only be revealed once these segments have been analyzed and measured against sales volume, risk levels, and gross margin contribution. The credit professional can use this analysis to ensure that the firm has a working credit policy. Proven policies can be implemented at a transactional level in order to improve bottom-line profitability and productivity simply by establishing (or refining) existing segmentation. And, of course, the firm can achieve contributions to top-line growth by applying the insights gained from analyzing attractive market segments and targeting a range of individual firms within those segments.

 

 


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Average Collection Period Days Articles

 

3 Quick Business Credit Report Red Flags to Avoid Bad Debt

Extending credit is a requirement of doing business today. This necessity unfortunately opens you up to credit risk and the potential for bad debt.While you may not avoid all credit risk, credit managers are able to greatly reduce their likelihood of a collection account or bad debt by pulling a business credit report.

Good credit managers are able to read a credit report to understand how a company has historically paid their bills. Great credit managers are able to use a credit report to predict how they can expect to be paid.

Within the report, are red flags that these great credit managers look for to avoid bad debt.

The 3 Bad Debt Red Flags on a Business Credit Report

Knowing how to read a business credit report is a requirement of any good business credit professional. It is the great ones that are able to use a report to avoid the likelihood of bad debt.

Here are 3 red flags that they look for to reduce their credit risk.

1) Low Business Credit Score

Business credit scores give you an idea of risk potential. Each business credit bureau has their own scoring system, but the scores are usually calculated based on factors in the following four areas:

1. Payment history

2. Current level of indebtedness

3. Current level of delinquencies

4. Length of credit history

Each bureau will tell you what range of scores they consider high risk. On an Ansonia Business Credit Report, a risk score of 70 or lower is considered high risk.A low score is not cause to deny a company credit on its own; use your judgment here. If the company has a low business credit score and other adverse information on their report (such as flags #2 and #3 below), you are probably better off working with them on cash terms.

2) Credit Alerts

Credit alerts are never a good sign. Ansonia displays in bright red, hoping to literally alert our customers of the adverse information.

The severity of the credit alert can range greatly, from a bankruptcy to a slow pay.

While this is not a hard and fast rule, alerts can be grouped into two categories: approach with caution and approach with EXTREME caution (creative right?)

Approach with caution

  • On cash terms

  • Slow pay

  • Phone disconnected

  • Returned check

    These are often early warning signs. For example, if a company is starting to have cash flow issues, you might see a slow pay or on cash terms.It is important to note that alerts in this category can sometimes be explained:

    Slow pay - possibly a billing error

    Phone disconnected - the company just moved offices

    Regardless, approach these with caution; an alert is still an alert.

    Approach with EXTREME caution

  • Bankruptcy filed

  • Fraud account

  • Credit revoked

  • Judgment filed

  • Write-off

  • Collection Account

    Can you imagine if your company had one of the above alerts posted on your company credit report? These are big, bright, flashing red flags. They almost always indicate that a company is in trouble.

    If one of the above alerts is present, cash terms are recommended over extending a credit line.

    Credit alerts are never good. Regardless of its severity, an alert is always cause for further investigation. They are the cause of a lot of bad debt and write offs.

    When you see one, be careful.

    See a full list of credit alerts from Ansonia here.

    3) Increasing Days to Pay and an Abnormal Number of Credit Inquiries

    One of the best early warning signs on the credit report of a company is an increasing number in days to pay. This increase is especially worrisome if it is coupled with an abnormal number of credit inquiries (the number of times a business credit report has been pulled).

    What is an abnormal number? Look for a trend here. For example, a company has consistently had 4 inquiries on their credit report, and in the most recent two months has had 12 inquiries.

    The combination can often signify that the company is in trouble. It often means that they are having trouble paying their current creditors (increase in days to pay) and are out looking for new creditors (abnormal number of credit inquiries).

    Pulling a business credit report before extending a credit line can drastically decrease your credit risk. There are many things to consider on a report and these three are some of the worst in terms of risk potential. Avoid them and you can greatly reduce your chances of taking on bad debt.

     


    You Can Find More Information at www.ansoniacreditdata.com/

    Call Us Today at: 1-855-267-6642
  • "

    Accounts Receivable Fraud Schemes You Need To Know

    Accounts receivable fraud has long been on the radar of the Securities and Exchange Commission, and with non-financial corporate receivables at $2.3 trillion in Q3 of 2010, it is easy to see why: that is a lot of potential revenue, and the fact that AR assumes some uncertainty as to when (and whether) it will be paid allows unscrupulous employees room to manipulate the data.

    Mark Beasley, in a report published in Accounting Horizons, found that receivables and inventory were the most misstated asset accounts. And with single instances of fraud averaging about $180,000, knowing how to recognize and prevent accounts receivable fraud can mean the difference between a healthy revenue and accounting system and a dangerously compromised one.

    Here are several types of AR fraud to be aware of:

    The Most Prevalent Accounts Receivable Fraud Schemes

    Lapping Accounts Receivable (or Hiking)

    Lapping of accounts receivable is one of the most common forms of AR fraud, and one of the more difficult to detect. Lapping describes an employee recording payments to incorrect accounts in order to conceal a theft. If Company A makes a payment, an employee with access to payment processing can steal the funds, then record the next incoming payment from the account of Company B to to the account of Company A. This can continue indefinitely, with each subsequent payment covering the missing funds in an earlier account.

    Ironically, one of the signs that an employee is lapping accounts receivable is that they seem to be too dedicated to their work: coming in every day, possibly showing up early or working late, and refusing to take vacations. That is because the scheme never ends: the fraudster has to show up every day to continue the misdirection

    The blog feature a full article on lapping of accounts receivable, and how to prevent it.

    Sales Data Manipulation (or Skimming Fraud)

    A skimming fraud occurs when the same employee handles both invoicing and payment processing. The employee presents an invoice to a customer for the full cost of service and records a lower invoice or payment, pocketing the difference. This causes a discrepancy in goods or services rendered and revenue received, but can be difficult to detect if these two data streams are not well reconciled.

    Fraudulent Delinquency of Accounts

    If an account is marked as delinquent, it may be included in the allowance for the company for doubtful accounts and removed from gross receivables. When this happens, payments on the account may no longer be accounted for to the best ability of the company. An employee with access to the accounts classification system can mark a current account as delinquent and begin pocketing the payments.

    Diversion of Delinquent Payments

    Similar to the above, an employee with access to payment processing can divert payments that come from delinquent accounts, knowing that these accounts may have been written off and may not be well-monitored.

    Shell Collections Companies

    When an account is turned over to a collection company, there is often no guarantee that a payment will be collected in full. Exploiting this uncertainty, an employee with a relationship to a disreputable collection company may receive kickbacks in exchange for turning over delinquent accounts, which the collection company can collect on and under-report to the company holding the account. Thus, the company loses out on money that was paid in order to settle the receivable debt, while the dishonest employee and the shell company both profit.

    Employees receiving kickbacks from shell collections companies can also choose to assign current accounts to the company, ensuring a steady stream of diverted funds.

    What Can You Do?

    Supervision, separation of duties, data reconciliation, account monitoring, and audit controls are all important in the prevention of accounts receivable fraud. Among other strategies, your company should:

  • Ensure that no employee has access to the whole invoicing, collecting, and recording process for payments on accounts receivable,

  • Require that employees within payment-related departments rotate through specific tasks,

  • Implement mandatory vacation days, so that all employees must take all their vacation in a given year, disrupting any opportunities for long-term fraud,

  • Conduct random audits using an outside professional,

  • Reconcile bank deposit details against invoicing and A/R posting regularly,

  • Periodically review delinquent accounts and accounts sent to collections, or require that changes in account classification be approved by a supervisor who has no access to payment processing,

  • Encourage employee whistleblowing on cases of suspected internal accounts receivable fraud.
  •  

    "
    You Can Find More Information at www.ansoniacreditdata.com/

    Call Us Today at: 1-855-267-6642



     

    Why Your Business Credit Reports Need Transparency

    Transparency is one of the most important components of a reliable and accurate business credit report.

    What is transparency in the terms of credit reports? In short, it means that the business credit bureau is not padding their reports to make it appear that their data is better than it really is. For example, a transparent business credit report is very clear about how current the credit data it contains is.When you review the credit report of a company you should have no question that the information it contains is up to date, be able to tell how the company pays specific industries and see a month by month breakdown of the data.

    3 Components of a Transparent Business Credit Report

    Does the report provide the most current information?

    The cash flow situations of a business can change overnight so it is important that you are looking at the freshest data available. For example, if a business recently lost a major customer, they will likely start having difficulty paying their bills. If the credit data you are using is not current, you are making a decision based off of information that may no longer be relevant.

    It is vital that your business credit bureau shows how current their data is. Without this transparency, there is no way for you to know whether the credit information is 2 months or 2 years old.

    The best way to know whether or not the information you are looking at is current is to know what month the information was reported to the bureau. This is most easily seen in a month by month breakdown, where the number of contributors reporting that month is shown. If your current business credit reports show aggregated data, or do not show when the data was reported, how can you know whether or not the information is current or outdated?

    How does the company pay my industry?

    There are always some products and services that a business cannot function without. Since these vendors provide something that is essential to the operations of the business, the company will usually pay them first.For example, a trucking company will likely pay its fuel provider before anyone else. How can they move their trucks without fuel? A restaurant will probably pay the food distributor before they pay anyone else. How can they feed their customers without food?

    There are many industries that payment for a certain good or service demands a higher priority than others. Knowing how a company pays specific industries is therefore vital.Imagine you are an electrical manufacturer who produces commercial lighting. If you are considering extending credit to a trucking company, would you rather know how they pay fuel companies or other electrical manufacturers?

    A transparent credit report will always show you an industry breakdown. In this, you should be able to see how many companies, within that industry, are reporting and how they are being paid.Without this information, it is almost impossible to know how a company prioritizes their payments.

    Is it a single trade line or a month by month breakdown?

    It is extremely important to see how a company pays their bills month over month. With a month by month breakdown, you are able to predict their future payment trends. For example, if you look at the credit report of a the company and see that over the past 4 months, their days to pay have gone from 31 to 33 to 36 to 41, you can likely deduce that for whatever reason, they are having trouble paying their bills on time. Such a payment trend should factor into your decision of extending the company credit. Take a look at the graph below. Over the past 6 months, the company's days to pay haveconsistently increased (from roughly 40 days to pay to 70). If you saw the trend in the graph below, would you extend credit to this company?In addition, many companies experience some seasonality and these seasonal changes can cause drastic ebbs and flows in their revenue. They may pay their bills on time when they're busy and fall behind when they are not. By reviewing their monthly payment history, you will be able to determine if they experience any seasonality.

    A reliable and transparent business credit report can greatly increase your chances of getting paid. Be sure that your reports have current, industry specific and consistent data.

     


    You Can Find More Information at www.ansoniacreditdata.com/

    Call Us Today at: 1-855-267-6642

     

    A Sample of business credit reports
    for companies found in Ansonia's database

     

    Company Name:  GRAYBAR ELECTRIC CO INC

    Street Address: 2300 E 25TH ST

    City: MINNEAPOLIS

    State/Province/Other: Minnesota

    Zip: 55406

    Country: United State, U.S.

    Phone: 209-369-0991

    Rating: Available!

    Historic 25 months

    Average Days To Pay: Available!

    Average Outstanding Balance: Available

    Total Companies Reporting Payments History: Available!


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    Company Name:  NCI GROUP INC

    Street Address: 12400 TAYLOR RD

    City: HOUSTON

    State/Province/Other: Texas

    Zip: 77269

    Country: United State, U.S.

    Phone: 801-733-6929

    Rating: Available!

    Historic 25 months

    Average Days To Pay: Available!

    Average Outstanding Balance: Available

    Total Companies Reporting Payments History: Available!


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    Company Name:  BRANNAN STREET WHOLESALE

    Street Address: 634 BRANNAN ST

    City: SAN FRANCISCO

    State/Province/Other: California

    Zip: 94107

    Country: United State, U.S.

    Phone: 770-948-4331

    Rating: Available!

    Historic 25 months

    Average Days To Pay: Available!

    Average Outstanding Balance: Available

    Total Companies Reporting Payments History: Available!


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    Company Name:  CENTRAL NATIONAL GOTTESMAN INC

    Street Address: 3 MANHATTANVILLE RD

    City: PURCHASE

    State/Province/Other: New York

    Zip: 10577

    Country: United State, U.S.

    Phone: 214-677-9600

    Rating: Available!

    Historic 25 months

    Average Days To Pay: Available!

    Average Outstanding Balance: Available

    Total Companies Reporting Payments History: Available!

     


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    How To Check Business Credit History

    Business Credit Score: What It Means to Your Business

     

    Every business has both a Business Credit Score and a Business Credit Report. A good (high) business credit score is key to having your company approved for financing and trade credit. Your Business Credit Score ranks the creditworthiness of your business, just the same as your personal score acts as a financial rating.

     

    How Are Business Credit Scores Determined?

     

    Business credit scores are determined by reporting agencies, such as Ansonia Credit Data, with several factors going into the calculation of these figures. Various traits about your company and its financial history determine how credit scores are calculated for your business. Please see below for some factors that may determine your business credit score.

     

    Outstanding Debts
    Payment History
    Credit Utilization Ratio
    Public Records, which may include bankruptcies, liens, and judgements
    Length of Credit History
    Company Size
    Industry Risk

     

    Some of the above factors are unique to Business Credit Scores while many are similar to the ones used for calculating your personal credit score.

     

    How Are Business Credit Scores Used?

     

    Before a lender or other creditor can approve your business for finance they need to determine how capable your business is of repaying its debts, and this is where your business credit score comes in. If your business has a high Credit Score it indicates to creditors that your business is trustworthy; that it is not a high risk for finance. Lenders will use the business credit report of your company to obtain detailed information about the financial history of your business; with your Business Credit Score serving as a quick-check evaluation.

     

    In addition, a high business credit score may give you access to more credit than you would be able to receive if applying for finance with only your personal credit score.

     

    It is Important to Check Your Business Credit Score

     

    All business owners should review the financial information of their company on a regular basis, and this includes their business credit score. These scores are fluid and can change with time. It is for this reason that creditors will assess your creditworthiness on a regular basis. If you should notice that your business credit score is low, there could well be an error in the credit reports which resulted in an inaccurate calculation. It might also be that your business does not warrant a higher score because it does not have sufficient credit history.

     

    However, if you believe there is an error in your Business Credit Score it is imperative that you contact the credit agency that generated the score in order to have this score checked, and corrected if necessary. If no error has occurred, it is still possible to increase your business credit score over a period of time by making payments on time and lowering the credit utilization ratio for your company .

     

    Regardless of whether you are just starting out in business or you have been in the game for many years, an essential aspect of staying competitive in business is to build a strong credit profile.

     

    Improving Your Business Credit Score

     

    It can be confusing trying to determine how and when business credit scores are used; however, it is actually very simple to keep your score high. Basically, it is the same as taking care of your personal credit.

     

    Make sure your business bills are paid either on time or before their due date;
    Maintain your credit utilization at around 25%. It is important that you do not max out your credit lines; and
    Open multiple credit accounts; such as trade lines, business credit cards, and loans.

     

    About Business Credit Reports

     

    You are probably aware that you can check your financial history by viewing your personal credit report. Well, the same information can be reviewed for your business, and that is because credit bureaus scour public records and other financial data in order to develop a credit report on your company the moment you start a business. So, when you receive trade credit (also known as a business loan or line of credit), information about your payment history is compiled and turned into a business credit score by a company such as Ansonia Credit Data. Ansonia Credit Data is a premier business credit reporting provider.

     

    One of the most important aspects of being a small business owner is to take the appropriate steps to build your business credit profile. Doing this will assist in creating strong business relationships and open up financial opportunities that will make running and growing your business so much easier.

     

     

     

     

    How To Check My Company Credit

    "

    Checking a Credit Report for a Company

     

    It is via a Business Credit Report that a person or company is able to evaluate the credit worthiness of potential suppliers, a competitor, or even its customers. A business will often run a Business Credit Report on itself to determine how its financial stability is being presented to the larger business community. We strongly advise that any business entering into a relationship with a new company should run a Business Credit Report, because this which will assist in determining the degree of risk involved in the proposed business relationship.

     

    Reading a Business Credit Report

     

    It is highly recommended that a company run a business credit report if it is considering evaluating the reliability of potential suppliers, granting credit to new customers, or even analyzing the credit standing of their own company . Typically, a business credit report will provide a snapshot of the credit history of a company, including how reliable it is in paying its bills and managing other financial obligations. Running a business credit report on a company can help you reduce risk by identifying potential warning signs of credit problems of your customers . It will also help you determine whether your own company is a positive credit prospect for its suppliers.

     

    A business credit report will ideally include a review of the following aspects of a business.

     

    Credit Risk Rating

     

    The majority of business credit reports include a rating system which has been designed to assist in gauging the potential risk of either late or delinquent payments. These ratings are determined through an analysis of different credit factors, like legal filings and past payments performance; plus, they are ideal for when you are required to make a quick credit decision. Any high risk rating should be taken very seriously.

     

    Payment History

     

    It is important that you analyze past payments to determine how efficient a company is in managing its accounts. Look for trends as well as timely payments. As an example: you may notice that a prospect previously made minimum credit card payments; however, they are now paying the balance in full each month. This could well indicate that the company has become a better credit risk, meaning that they have developed a stable revenue stream. In addition, you should check to see how the payment history of a specific business compares to other businesses in the same field. The information you gain here will confirm whether Are the payment patterns of the business in line with industry norms.

     

    Of course, this also applies to your own business credit report: when reviewing your own report, check for similar trends that your suppliers may notice.Company Background and Information

     

    A business credit report should include certain information, such as the name, address, and contact information of the company. It might also include information on its business type, such as the number of employees, industry by NAICS or SIC code, the status of incorporation, sales figures, and key officers. Conduct a careful review of this information to ensure that it is consistent with the records held by your company. If this information should not be consistent, be sure to advise the company concerned and request an explanation.

     

    A Word of Caution: Fictitious company names hide the true ownership of a business, so be alert for this kind of detail: it could well be an indication that the company concerned is attempting to conceal information.

     

    Legal Issues

     

    A business credit report can help you identify new clients who may turn out to be credit risks, or suppliers who may not be reliable, by disclosing legal issues regarding outstanding lawsuits, bankruptcy filings, court judgements and liens. It is true that many companies have at one time or another faced some type of legal proceeding or lawsuit, so it may not necessarily be important that they have a pending lawsuit. However, companies that have experienced bankruptcy proceedings or have liens placed against them should be assessed very seriously.

     

    Collection Proceedings

     

    Does the company in question have a known history of having accounts sent out for collection or of letting its bills lapse? Question continuous late payments, because they may be the result of disputes over goods and/or services, merchandise or other non-financial issues.

     

    The Age of a Company

     

    How long has the company in question been in business? Typically, a company that has been operating for many years will be more financially savvy and adept at managing their finances than a young company. A young company could well be a very good credit risk, but their creditworthiness should be researched further. One way of doing this is to check the personal credit reports of the leaders for the company, which should offer insight into how diligent they are about handling accounts.

     

    Uniform Commercial Code (UCC) Filings

     

    Checking a UCC filings of the company will offer an insight into the leases and liens it has in place. Reviewing this section of the business credit report can offer clues on how credit is used by a company. Let us say this specific company has a high number of trade credit relationships with other businesses, or it has a number of assets being held as collateral on existing loans: this could well mean that the business is financially overextended.

     

    Do your research and take all of these factors into account before making the decision to add your own name to the list of creditors of the company.

     

    "

     

     

    How To Credit Check A Company For Free

    "

    Why You Should Use a Business Credit Report Service

     

    It is irrelevant whether you are just starting out in business, or you own a small business, or perhaps you manage a large business that has been around for many years. In all of these circumstances a business credit report can help you grow your business. A business credit report is crucial when it comes to making financial decisions and ultimately running a financially successful enterprise. In fact, a business credit report is just as important as a personal credit report and, similar to a personal credit report, it can make or break your business.

     

    A loan is usually necessary for the growth and development of any business and, for those just starting out in business, borrowing money is vital for the business to function from one day to the next - that is, until the business begins to show a profit. Whether you are approved for a loan could well be determined by the information listed on your business credit report. You will be eligible to receive better loan terms and rates if your business credit is good, so being aware of this and staying on top of your business credit report can be key to the survival of your business .

     

    We have conducted a review of the best business credit report services to assist businesses in choosing a company that is capable of providing them with not only a business credit report but additional business credit services as well. In our opinion, Ansonia Credit Data is a top-quality business credit report company.

     

    What to Look for in a Business Credit Report

     

    Your Business Credit Score is determined the same way as your personal credit score. Your financial information, which includes information from lenders and suppliers, background information and legal filings, all help determine your business credit score. Your personal credit score contains information very similar to a Business Credit Score, however, this information is reported differently: a personal credit score is reported on a scale from 300 to 850; whereas a Business Credit Score is reported from 0 to 100.

     

    Generally, business credit report companies do much the same thing: they provide you with a business credit report which enables you to make informed financial decisions regarding your business. In addition, these companies also provide other business credit services, and the following criteria were taken into consideration when reviewing these business credit report companies -

     

    Business Credit Report Content

     

    The content contained within the business credit report is crucial when it comes to understanding what is affecting your credit score and your overall credit caliber. You should expect your business credit report to detail as much information as possible about the credit of your company. For example, the history and relevant information concerning your company should be included, together with the risk score. Also included should be risk factors, payment information, financial background, financial relationships, collection history and filings, and any inquiries that may have been made about your Business Credit Report.

     

    Credit Monitoring

     

    Similar to your personal credit score, your business credit score can alter very quickly, which explains why it is so important that you monitor your business credit. A good business credit reporting company will offer a variety of credit monitoring services to help you stay on top of what is showing on your Business Credit Report, in addition to determining if the information included is actually correct.

     

    A good business credit reporting company will offer credit monitoring features, like picking up any major changes to your credit or any fraudulent activity, in addition to information regarding enquiries from others about your business credit report.

     

    Identity Fraud Prevention

     

    Identity fraud is not only a problem that concerns individuals, it is also a problem for businesses. Crucial to protecting your credit score and preventing fraud is the protection of the identity of your business . A good business credit reporting company will offer identity fraud protection services, in addition to offering a business credit report. The services might include educational materials and identity protection that will ensure your business is protected from identity fraud.

     

    Business Solutions

     

    The best business credit report companies are capable of providing other business solutions to financially assist your business. Such as receivables portfolio management analysis.

     

    Help & Support

     

    It is very important that you receive help and support when you need it, particularly when it concerns your business credit report. For starters, in order to make correct financial decisions, you need to be able to read and understand exactly what your business credit report says about your business. You should have easy access to your A business credit report company, through email, telephone and an online contact form. In addition, you should have access to pertinent resources such as educational articles, and Frequently Asked Questions.

     

    A business credit report will assist you in making smart financial decisions, regardless of the size of your business. Simply understanding what your business credit report contains offers amazing peace of mind when applying for a business loan. Of course, additional business credit report services are extremely advantageous when they offer protection for the identity of your business and assist by monitoring your business credit.

     

     

    "

     

    You Can Find More Information at  receivablesportfoliomanagement.com and at Best Business Credit Report-businesscreditreporting.org

    Call Us Today at: 1-855-267-6642

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