Business credit rating
Business credit scoring is an essential practice, especially when it comes to B2B commerce. The aim is to protect against bad payers and gain a solid insight into the customer's financial situation to set appropriate credit terms.
Who should credit score?
All businesses that want to minimize the risk of losses on debtors should consider credit scoring. This is especially important for businesses that offer credit, such as credit sales. Providing credit increases the risk of loss (your credit risk), especially in competitive industries such as construction and food, where long and large credit lines can make the business more attractive.
Contents of a Comprehensive Credit Assessment
A good credit rating should provide a complete picture of the company's financial condition. This includes:
- Finance and Accounting: Basic financial data.
- Key metrics: Important indicators of a company's financial health.
- Management and Board of Directors: Information about the company's management.
- Credit Recommendation and Credit Rating: Not publicly available data, but essential for a full understanding.
Public sources like the CVR register and services like Proff.dk can provide a good start, but for a complete assessment, additional data is needed.
Automated Credit Ratings and Alerts
Credit scoring can be done manually or automatically. Many companies choose automatic credit scoring to get an up-to-date picture of their customers' finances. This allows you to stay ahead of the curve and make informed decisions the next time the customer approaches.
Credit check with Qatchr
Hos Collectia har vi udviklet platformen, Qatchr, der er en brugervenlig onlineplatform til at vurdere kreditværdigheden af både privat- og erhvervskunder ved at indhente kreditoplysninger, der kan supplere din kreditvurdering. Platformen giver adgang til en bred vifte af funktioner, der gør det nemt at få indsigt i kundernes økonomiske situation, enten manuelt eller fuldt automatisk. Ønsker du at udarbejde din egen kreditrapport med valide data, er dette værktøjet for dig.
Ønsker du at vurdere dine kunders kreditværdighed, tilbyder vi en gratis og uforpligtende demo af vores platform. Se, hvordan Qatchr kan hjælpe dig med at træffe bedre finansielle beslutninger og opretholde en sund kreditpolitik.
Summing up
- Why credit scoring?
- Protects against bad payers.
- Ensures correct financial impression of the customer.
- Determines appropriate credit terms.
- Avoid deals that end in debt collection.
- Who Should Credit Score?
- Companies that provide credit.
- Industries with high competitive parameters.
- What can a credit rating contain?
- Finance and accounting data.
- Key figures and management information.
- Credit scores, credit recommendations and ratings.
- Benefits of Automatic Credit Scoring
- Continuous updates.
- Predictable economic images.
- Effective risk management.
