CREDIT CHECKING SERVICE

Understanding Risk

A lot of businesses still don't carry out credit checks on potential or even existing customers.

Granting credit is a great way to attract new business especially if your competitors don't. Put simply buyers of your service or product love credit as it allows them to have the benefit now and pay you later.


One of the BIGGEST risks I often see is not carrying out a company credit check on potential or existing customers. 

You must carry out credit searches if you want to:

  • Have better cash flow by avoiding late payers.

  • Reduce levels of bad debts.

  • Minimise the risk of fraud.

  • Offer credit based on the latest information and supplied by various sources.

  • Make profitable sales ensuring your business grows and survives.​

 

CREDIT REPORTS

Providing Dependable Information

Noble Credit Management can provide a single credit report or review your whole ledger. Our reports will give you all of the information you will need to be able extend credit confidently.

Armed with a report you will know:

  • Who is behind the business and how long it's been trading.

  • If the business is financially sound.

  • It's credit score and a recommended credit limit.

  • How quickly they settle their invoices

SINGLE CREDIT REPORT

Find out what information is contained within our credit report, how quickly we can provide this and the cost to purchase.

CREDIT CHECKING YOUR ENTIRE LEDGER

This service looks at each customer in detail. A full credit check will be carried out and I will recommend the appropriate credit limit with guidance.

COMPLIANCE CHECKS

Keep your business safe and reduce the risk of bribery and corruption. Our compliance search will help you achieve this.

 

SINGLE CREDIT REPORT

Providing Dependable Information

Have you written off a debt due to a customer entering liquidation/administration or suffer with customers that pay late?

​Whilst you can never guarantee against experiencing a "bad debt" you can take action to reduce the risk of it occurring. Our credit reports allow you to quickly make the decision to extend credit to your potential customers or suppliers.


Reports contain the following key information:

  • Credit score

  • Recommended credit limit

  • Up to 3 years annual accounts

  • Group structure - Parent company

  • Director Information

  • Registered office - when incorporated.

  • How well they pay other suppliers.

COST

For a UK based company a report costs just £10.00 fully inclusive and is normally sent within one hour of receipt of payment. Please contact us for a quote if your customer is based "off-shore".


An example of a basic credit report is here.

Note - about two thirds of the information has been removed as the objective is to simply show how easy it is to read.


 

CREDIT CHECKING ENTIRE LEDGER

Setting the correct credit limits

With this service I will review all of your customers and recommend the credit  limits you should set to enable you to continue to sell but not over expose your business to risk. You should never give unlimited credit.

You will receive :

  • A credit report for each customer.

  • I will review each company and give a brief comment on any concerns.

  • All information will be be compiled onto a spreadsheet and presented once completed.

  • A recommended credit limit for each customer.

  • A recommendation to amend trading terms e.g - customer to move to pro-forma due to high risk of default.

  • PowerPoint presentation giving risk analysis for ledger.


Cost

It's very difficult to give an exact price as it depends on the level of detail required and number of customers to review. 

As a guide to review and analyse 100 customer as per above would be £2500.00 fully inclusive.

Consider the benefits


  • Reduction in potential bad debt.

  • Identify customers that pay to terms so your sales team can concentrate on selling to businesses that will help your company grow.

  • Identify poor paying customers so you can decide if offering credit is the best way to trade.

  • Each customer reviewed - so no nasty surprises!

  • Credit limits set for you to minimise risk but maximise sales

  • Save time and money.

  • Carried out by a specialist.

This service effectively pays for itself many times over. How much have you had to write off? How much do slow payers cost your business?

 

COMPLIANCE REPORTING

Avoid Bribery and Corruption

As bribery and corruption becomes a growing problem it's important to protect your business with our compliance checking service.

Why is it important to carry out this type of search?


It's crucial as failure to conduct a proper check could result in not only a fine but also criminal charges. These can be levied against the business or any company director and a limited business does not give you personal protection.

Even if your business survives a hefty fine there is the damage to your reputation to consider, will your customers still want to trade with you? 


Our compliance check can be carried out on either an individual or a company. The search will check:

  • PEPs

  • Current & previous sanctions

  • Insolvencies

  • Financial regulator

  • Law enforcement

  • Disqualified director

  • Bankruptcies

  • Adverse media

  • Corporate registry

  • England & Wales Charities Commission

  • Companies House

  • Global ID verification


Call today for a quote.

 

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