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Company Credit Reports: How can they help your business grow?
1 year ago by Cynthia Gebeily

Company Credit Reports: How can they help your business grow?

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Why Sales People should make more use of them. 

Company Credit reports can be your guiding light, helping you make informed decisions over what paths to take in business. They don't just display the negative. Credit checks have traditionally been wrongly interpreted as used purely to identify the best terms for business arrangements. 

It is this misconception that halts your ability to fully utilise what an extensive credit report can do for you. Of course it is important to analyse those with bad credit, to be informed of the magnitude of risk before trading with a company. However, what are the benefits that can be reaped if the credit report shows an entity to be prosperous?

The Light Side 

It is important to understand what the benefits are of receiving positive company credit reports, and how they can help your business grow. As much as you want to avoid risky clients who have bad credit, you also want to know who the good clients are. Those who have a great payment history and are possibly experiencing good growth, it`s these entities that you want to grow your business with to mitigate risks. 

So what are the advantages to a positive company credit report? 

1) Positive Planning: A robust and detailed company credit report can provide a multitude of opportunities that may help your business grow. Maximum credit allowance is one factor presented on expert business credit reports that can allow your company to take full control of long-term financial planning. 

Keeping your cash flow afloat is vital for the success of a business, when you know the maximum credit a company offers, you can plan your financials accordingly. Furthermore, the rise in late payment culture has many negative implications, reputational, financial and more, therefore knowing what credit line you can safely extend allows you to strategically plan and keep track of your payments. 

2) Money Talks: Company credit reports can provide integral research into the cash flow of businesses. Tackling the speed at which companies pay their invoices (late payments are a big factor affecting SMEs in recent years, see our article here for more information), through this you can personally assess how reliable a company is. 

Finding a company that pays on time usually depicts a healthy operation of overall business, being able to deliver products and services on time is a positive sign and indicates a potential business partner with minimal risk. 

3) Grow with your clients: Another positive from a strong company credit report is the fact that it can display who`s experiencing growth, allowing you to essentially increase business with them and reap the rewards. Certain companies offer meticulously detailed reports and provide scoring systems that provide a visual and calculated display of the risk factor involved when conducting business with a certain entity. For example, Cedar Rose offers a CR Score which does just that. 

Through a combination of logically calculated specifications, the CR Score can analyse what businesses you could benefit from with minimal risk. 

Cedar Rose - Company Credit Reports

Finding an institution that can provide expert company credit reports is just as important as knowing how to use them.

Cedar Rose have gone the extra mile and offer a one of a kind rating system where you can rate payments received from your business transactions. Were you paid on time? Were there any problems? How late were you paid? We offer a new concept called Trade Rate that allows you to personally rate your business with another entity on a 1-5 scoring system. 

We believe that this is pivotal in combating the late payment culture and we hope it can drastically reduce the amount of companies that get paid late and, consequently, become bankrupt. 

We are standing up for the SMEs. Furthermore, our Business Credit Reports offer an exhaustive amount of research and factors that can help you mitigate risk and plan the correct path for the future of your company. We are renowned for the meticulous detail on our reports and the dedicated research that we conduct to provide you with the relevant information that you need. 

Additionally, we offer an add-on service, Monitoring, that tracks changes to companies, when we enter any change to a company record in our database you will be informed directly of what changes were made (if you opted in for monitoring on the company in question). This keeps you relevant and up-to-date, allowing for risk-free business operations. Check out www.cedar-rose.com today to order your business credit report, know your customer inside-out, keep up to date and grow your business with them. 

Sourced Image: Pexels 

  • credit reports
  • sales reports
  • know your customer
  • know your client
  • know your business
  • KYC
  • KYB
  • grow sales