Overview

Business people are challenged daily to make decisions with limited information; decisions that can impact cash flow and profitability. Most organisations have a reasonable feel for how their customers are paying them but no insight as to how this relates to others. Without an objective yardstick, there is little visibility of whether your customer’s payment behaviour is good, bad or somewhere in between. In this case, all your credit and payment collection decisions are being made in a vacuum, which can lead to poor outcomes.

As an example, from your own payment data you could conclude that a customer is slow at paying and decline to extend further credit when in actual fact they pay you faster than the industry average and have done so consistently over time. Your actions could lead to the loss of a valuable and reliable customer.

De-risk your business by exchanging payment data for insight

We operate a program that enables you to regularly contribute your company trade payment data in return for detailed payment and industry insights.

These detailed insights are only available to subscribers that contribute their trade data and are delivered in our Business Reports.

The table below shows the additional insights that trade contributors receive compared to the standard report.

Commercial Check

Content

Standard report
  • Company registration details and status
  • Company contact information
  • Director and shareholder details
  • Any trade payment rating
  • Any registered personal property securities
  • Any previous credit inquiries
  • Any defaults and collection activity
  • Any public notices (e.g. bankruptcy filings)

Additional insights only for contributors of trade payment data
  • 24 month trade payment history
  • Industry payment profile, classified into current purchases and outstanding amounts by overdue date

 

 

Contributors to our trade data program also receive the following benefits:

  • Free Match Trader Report, which independently verifies the details of your company accounts against the information that we and the Companies Office hold on file – available anytime on request
  • Discounted Business Reports pricing
  • Discounts on other Business Credit Risk services

How does it work?

Our trade program is suitable for any organisation that deals with local companies. Once you start sending us your monthly trade payment files you’ll automatically gain access to detailed trade reporting in the Business Reports that you run.

You need to supply us your trade payment files on a regular cycle; weekly or monthly following your end of billing process.

You can supply your files to us in two ways:

  1. Upload your files through our secure online portal, or
  2. Send your files through the Secure File Transfer Protocol (SFTP) via Globalscape

Both transfer methods are secure, simple, quick and convenient.

Our preferred file formats are CSV,XLS and txt, however we endeavour to accommodate all file types.

The data that you supply to us is de-personalised and reported at aggregate level. This approach applies equally to all contributors. In this way all parties benefit through increased industry insights while maintaining anonymity and commercial confidentiality.

In accordance with privacy regulations, we only release trade payment data on incorporated entities. Any information supplied on individuals is excluded from aged trial balances supplied and is not reported.

What are the benefits?

  • Win and retain the right customers
  • Tailor your credit terms to reflect the characteristics of each customer
  • Dispenses with the need to obtain trade references, which speeds up your decision time and reduces overhead
  • Reduce the risk of payment delays and bad debt through early risk detection and timely intervention
  • Improve collection rates
  • Increase management control and effectiveness
  • Reduce supply chain risks
  • Source of competitive advantage