The importance of Business Information to your
In today's fast-moving business environment, it can be difficult to
keep track of everything. You are required to make important, often
costly, decisions about granting credit, initiating business
dealings and making deliveries all in a very short space of time.
That is why a reliable source of up-to-date Business Information is
fundamental for doing business with confidence whilst eliminating
potentially damaging financial risks.
Where are the main areas in which you could use business information
services in your company?
Pre-business Credit information
this type of business
information is of crucial importance, allowing you to build a
quality client portfolio, and leaving out of consideration those
clients who are only going to bring you trouble. The criteria that
you should look for in such information is a Credit Limit. This
obviously gives you a clear indication of how much you can safely
risk with such a client. Secondly, a risk synthesis is useful; this
gives you an "at a glance" feel for the company and is based on a
bankruptcy index, sector risk index and the presence of any adverse
entries. Some financial data should be present too in the case of a
PLC/corporation giving you the main balance sheet items and ratios.
Finally, other necessary information would be who the company
executives are, economic activity and number of employees, together
with real estate held by the company and any adverse entries. All
these factors should be present in a pre-business credit report on a
company, giving you the knowledge to proceed with or avoid business
dealings. An analytical company report would include in addition to
the foregoing details on any interests held by the company
executives in other companies.
In-depth Business Information Report
Where you require
exhaustive information together with an analyst's comment, a
Business Information Report is appropriate, integrating the
information provided in the Standard Company Report with detailed
information on company shareholders, trade structure, news on the
company members and directors, historical information on the company
from the registrars and, where available, relations with banks.
Credit Recovery Information
If, unfortunately, your customer
turns out to be a slow or non-payer, then you have to decide how
best to get paid and how quickly you can achieve this. You have
already lost money with this subject, and you don't want to throw
good money after bad. You need in this case a Report giving you the
full picture regarding this customer; whether it is economically
worthwhile to pursue him through the courts or whether you would be
better cutting your losses.
Comas is an ISO-certified Italian Company specialising in Business
Information/Debt Recovery business since 1976.