Why credit check with CreditFocus?

CreditFocus uses the most comprehensive and current data from Experian to produce detailed, accurate and digestible business credit reports for businesses in the UK, which give you a holistic view of your customer's financial situation.

The Credit Indicator

• Current and Historic Business Credit Indicator score Overall score given to a business based on their credit data which ranges from 1 - 100. The lower the score the lower greater the risk of the business facing financial difficulties, the higher the score, the more financially secure the business is, both historically and currently.
• Credit Risk Rating A simple summary of the total risk a business presents to your business, If you know the. level of risk then you are able to make decisions on when to chase debt, what credit terms you can offer this business.
• Recommended Credit Limit Using the business' credit indicator score, risk level and payment indicator score, we have calculated a recommended credit limit to extend to the business, that they are likely to have the capability to pay back.
• CreditFocus Insights Using all the credit data and information calculated in the credit indicator, we will suggest what action you should take relating to credit with both your business's short term and long term interests in mind.

The Payment Indicator

• Current and Historic Payment Indicator Score Calculated using credit data, we have worked out how late a business is likely to pay their bills. This shows you how many days beyond agreed terms you will receive a payment from the business currently and historically, allowing to plan accordingly should you choose to do business with them.
• Payment Performance Rating A simple summary of the business's payment performance based on current and historic payment data. If you know the likelihood of late payment then you can then make decisions on whether to offer favourable payment or credit terms, or whether to request payment before you provide the goods or service.
• CreditFocus Insights Using the credit data and payment information calculated in the payment indicator, we will list immediate, medium, and long-term actions that we think you should take to ensure your customer pays you on time.

Traffic Light Indicator Colour Scheme

• Red, Orange and Green For both the Credit Indicator and Payment Indicator, we have set up a traffic light colour scheme to help you clearly understand what is a high risk scores or late payment of over 60 days (red), medium risk or late payments of up to 60 days (orange), Low risk or on time and early payment (Green).

Check out the 'Growth Package' to see not only can your business hugely benefit from the powerful insights CreditFocus company credit checks provide, but also credit monitoring, improving your business credit score and the credit control toolkit.