How credit-worthy are your customers?
Being able to quickly and simply research the credit- worthiness of a new customer beforehand can save a lot of time and money later. Xolv advises on evaluating the credit risks of your existing and new debtors.
You gain insight into the financial health of your customer, together with the balance owed and payment history, via a credit information report. Good credit information reduces the risk of bad payment, but it is no guarantee of payment.
Why credit information:
- A report from a bureau that specialises in credit information contains information from multiple sources and offers more insight than just the annual figures reported to the Chamber of Commerce
- Special credit analysts monitor and evaluate the financial details of the businesses in their database
- In addition to financial information, payment experiences relating to your customer are also incorporated, giving a good picture of your customer’s payment history
What you are able to see when you purchase credit information:
- General company information on your customer
- Turnover and liquidity history
- General credit advice (You can make use of this for the self evaluation if you have credit insurance)
- Payment history
- Credit rating (usable for segmentation of your customers
- Credit rating history