Business Credit Reporting and Credit Checks
Business relationships shouldn’t start as blind dates
Without a proper business credit rating check, it becomes impossible to make informed decisions about the people and companies you choose to work with, which is unadvisable in this economic climate! When finding new clients and business partners, it is essential that you check their business credit score to make an informed decision before closing a deal.
Daily Alerts to Negative Credit Events
Business credit reporting allows you to assess any adverse information transpiring on a potential client or business partner. Negative credit events can include payment defaults, public notices, court judgements, and collection actions.
Choosing to trade with these clients would be risky. However, knowing such risks allows you to decide if the pros outweigh the cons when it comes to conducting valuable business, or whether you should stay away completely.
Because this credit information is updated daily, carrying out ongoing business credit rating checks can be a great way to see any changes that could alter risk management profiles.
If a negative credit event befalls one of your clients, NZBT will alert you within 24 hours. This will put you ahead of businesses that do not undertake similar monitoring, giving you a head start to recovering any outstanding debts you are owed.
Take Advantage
The credit information available is enormous. Take advantage of it with NZBT and allow your business to make better credit-related decisions.
What is a Business Credit Score?
A business credit score is a numerical rating that lets you know how creditworthy a business is, be it your own or someone else’s. These scores will display information pertaining to a business’ risk of failure or late payments to tell you whether they are susceptible to financial distress or failure. Business credit scores can include information from the NZCO such as:
- If the directors of a company were ever involved with a business that failed
- Who runs the business
- Who is responsible for any payments owed by the business
- If the business has ever had legal action taken against it
- If the industry the business operates in is considered a high-risk industry
How Does NZBT’s Business Credit Reporting Work?
At NZBT, we offer a single point of contact solution by providing comprehensive business credit checks to NZ companies. By checking the credit reports of those you do business with, we can help you and your business stay informed and on the right track. We work with CreditWorks, Centrix, and Equifax to ensure that you can get a comprehensive range of business and consumer information.