Evaluating credit risk may be complex and challenging. NACM Northwest helps minimize risk by providing a variety of business credit reporting options. Each reporting agency offers specific information that may be helpful in making informed credit decisions, leading to reduced delinquency and fewer bad debts.
Why should I purchase a business credit report?
- Check a prospective customer’s payment practices.
- Get an update on an existing client’s business condition.
- Verify key account’s prompt payment habits.
- Determine your credit position relative to other creditors.
- Make an informed decision about a customer’s credit limit.
- Inability to contact or communicate with customer.
- Evaluate key supplier’s financial condition.
Does calling trade references from the credit application provide sufficient information?
- You may be unable to obtain the information you need or even get a reply after multiple inquiries. A business credit report may be accessed instantly online.
- Customers always provide their best references. A credit report provides a much broader review of payment habits across the industry.
- Public record information included in the credit report will tell you about tax liens, judgments, and collection accounts, which will not be visible in calling references.
- Especially with large dollar accounts, the credit report provides a better overview.
- Orders are processed more quickly, which is beneficial to the customer and your company.
Already using a reporting agency?
- Are you getting a competitive price?
- Are you getting prompt, accurate, and efficient customer service?
- Would additional information help you reduce delinquency and bad debts?