You know that your customer has a good credit rating but a poor payment performance. What should you do?
You can see that your potential new customer has a terrible credit rating and pays their bills 30 days late. What should you do?
These are questions businesses should be asking themselves, but many don’t ask these questions because a) they don’t know the information in the first place, and b) they wouldn’t know what to do about it even if they did know.
We understand that completely. Not everyone is an accountant or a financial whizkid. That’s why we introduced our Insight Engine into CreditHQ.
It can take the financial data of a company and point out things that your business can consider doing when trading with this company. It could be offering more credit or extending payment terms. It could be reducing credit and reviewing your cashflow. It all depends upon the circumstances of the company concerned and your relationship with them.
Knowing this allows you to make informed decisions and take control of your business, and reduce the impact of negative businesses that you might come in contact with.
So if you need some guidance on how to reduce financial risk in your business or how to improve your cashflow take a look at CreditHQ and start to understand the factors that can have a big impact upon your business.