Credit Scoring - a system creditors use to help determine company credit
Here's how credit scoring works in helping decide which company gets credit.
CheckSURE delivers credit scoring for each company doing business with the user's organisation as long as that company is trading and accounts for its business in pounds sterling.
Credit scoring by checkSCORE is based on some 400 separate calculations using software and modelling expertise.
Credit scoring provides greater consistency and objectivity to form a well controlled decision making process. This gives online users the ability to manage risk exposure with an improved degree of accuracy and keeps well in line with the clients business goals. After checking credit scoring, the more informed decisions can help users to reduce bad debt.
So, because your credit scoring report is an important part of company decsion making it is very important to make sure it's accurate before you submit a credit application.
What is included in credit scoring information?
Here are a few examples of what information will be at hand if a company is to search credit scoring:
- Late payments
- Bill-paying history
- Number and type of accounts
- Outstanding debt
- Collection actions
- The age of all company accounts
Credit scoring is based on real data and statistics, so it is more reliable than subjective or judgmental methods. Credit scoring models are complex and often vary among creditors and for different types of credit. To develop a model, a creditor selects a random sample of clients, or a sample of similar companies if their sample is not large enough, and analyses it statistically to identify characteristics that relate to creditworthiness. If one factor changes, the company credit score may change, but improvement generally depends on how that factor relates to other factors considered by the model.
Credit scoring systems enable creditors to evaluate millions of applicants consistently and impartially on many different characteristics. CheckSURE is the most innovative service in the UK to provide this vital and comprehensive information through credit scoring.
The Original 21st Century Company Checks Site...
Since Launching in the early years of this Century, the checkSURE database has been updated nearly 60 million times data related to companies and UK directors.
How it works in 3 easy steps...
How it works in 3 easy steps Search, Register, Buy, checkOUT!. View in your checkSURE Portfolio. CLICK HERE TO VIEW STEPS
What checkSURE offers which others don’t…
- Users comments on companies shared with others
- Payment performance data indicates late payers
- Unlimited reports storage with no time restrictions
Britain may be getting a bit of an economic bashing but here’s an institution of which we should be proud. For more infomation on Companies house go to this page - Read More