Minimize your credit risks by reporting your commercial accounts receivable data.
Experiencing risk is part of doing business. By simply reporting your commercial accounts receivable information to Experian and Equifax’s database, you can minimize the occurrence of late payments or defaults in your account base. In today’s world, businesses are very aware of the importance of a good credit rating in order to receive loans and credit from financial institutions and suppliers.
Your information is confidential.
Experian and Equifax maintain strict confidentiality standards designed to limit access, verify the integrity of new information, and secure its privacy. Your company name is not revealed to other clients when they access the business products and reports.
How will you benefit from reporting?
- Better leverage in debt collection – Customers who know you are reporting payment behavior to Experian and Equifax are far less likely to default on their debt. In many cases, customers may choose to pay you over another non-reporting vendor because they want their good payment history reported.
- Growth – By sharing your customers’ trade payment experience with your fellow credit managers, you can help ensure the growth of your company and of the business community as a whole. When you report, you will see an improvement in your collection efforts.
- Get a better perspective on your collection efforts with Experian’s Management Reports (PDF). External information is compiled on how your customers are paying other suppliers and returned to you in this monthly report. It provides an easy way to identify the customers that are paying vendors late. Or which clients are paying other suppliers sooner than you. This knowledge will save valuable time in determining your course of action.
- Product discounts – Receive discounts on other Experian Business Information Solutions credit solutions, including Portfolio Monitoring and Portfolio Scoring.
Start contributing today and improve your DSO (Days Sales Outstanding).
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