Credit Score on Commercial Entities

When assessing credit applications you need to make quick and accurate decisions whilst managing business risk. At first glance it's often difficult to determine from a credit report alone whether an applicant is a high or low risk. Granting credit to high risk applicants means you're left with bad debt write-offs. On the other hand, playing it too safe can mean low acceptance rates, low market share and reduced profits.

 

Veda's Credit Score on Commercial Entities helps you identify high risk customers who may look positive or neutral on paper but who are actually high risk. Veda's credit score assesses many factors, as held on the Veda database, concurrently applying a statistically valid assessment of a customer's propensity to default in the next 12 months that is difficult to assess by looking at individual components alone.

 

 Credit Score on Commercial Entities risk ranks your potential customers with other credit-active Australian businesses on Veda's credit bureau and delivers this in a single score - the higher the score, the lower the risk.  Used in conjunction with your own policies and procedures, a Credit Score on a commercial entity helps you judge whether to accept or reject an application for credit. 

 

Credit Score on Commercial Entities:

• Applies up to date data on the 3.6 million companies and businesses and 3.81 million on sole traders throughout Australia on Veda's credit bureau
• Delivers highly predictive risk ranking capability
• Helps you save time and lift productivity