In a previous post I advanced the idea of using a cross matrix approach to prioritizing commercial collections. In this first post in a two part series, I’d like to expand on this idea.
Experian Business Information
As the summer heats up many of us are looking to take a break to enjoy our favorite summer activities. While this break is well deserved (and essential for maintaining our sanity) it’s important to remember that the discipline around our credit...
When you’re on a tight budget, you definitely want to get the best bang for your buck. One way to do this is to evaluate your commercial collection process. For instance, start with deciding which accounts you go after first. By prioritizing your...
Credit policies are like a plant grown from a seed. They need regular review and attention just like the plants in your garden to really bloom. A credit policy is simply a consistent guideline to follow when decisioning accounts, reviewing accounts,...
In prior posts I have discussed Experian’s data model and how the data model allows us to keep our commercial file up-to-date and accurate. Today, I’ll explain how we leverage our data assets and technology infrastructure to make Corporate Hierarchy...
In the past month there have been two Google services that I’ve been keeping an eye on.
You may be familiar with your personal credit score, but do you know what factors drive a business credit score? The top three are trade, trade, and more trade information. You see, the number and percentage of trade credit lines that are considered...
We’re all aware of the increasingly bold moves fraudsters take to steal personal identities to secure jobs, cars, homes and more—but what about business-to-business fraud? As a small business owner, how much thought do you give to fraud protection...
I usually like to schedule my annual physical around my birthday. It’s a natural reminder to visit my physician to identify any potential issues or suggestions of how I can improve my health.
Ok, that is a loaded question. We can take a look at many things, and say, “yea, with all the bad news coming out, of course small business owners are losing confidence”. The NFIB confirms that with their latest report. Reasons cited? What...
Which comes first - BizSource or TrueSearch? It’s a bit like the chicken and the egg – without one you can’t have the other. BizSource is the repository where all the information coming into Experian’s commercial database is housed. This repository...
Last time, I wrote about the importance of understanding your portfolio’s exposure. Let’s get a little more specific and evaluate things from a disaster perspective. FEMA reported that there were 81 declared disasters in the U.S. last year. This...
One of the most frequently asked questions posed to me by clients is: Do I need a custom scorecard? To answer that question, let’s first start with the benefits of a custom scorecard (or model). Here are a few of the best things about a custom...
How do you use scores in setting a credit or risk policy? The answer actually varies widely, but there are some general rules. What is your companies risk tolerance? If margins are high, approvals are usually high also. In this situation, only the...
Summer vacations are in full swing and I can’t wait to spend some time at the beach with the family this summer. Since late payments and bad accounts never seem to take a vacation, I want to remind you of a couple of the tools we have available to...
Credit reporting companies require a minimum amount of information on your small business before they can generate a credit rating for your business. The process of scoring your business can include more than 200 factors into its model. To build a...
Since fluctuations within the market or unexpected disasters can drastically impact your portfolio’s risk, it’s generally good practice to regularly review the level of exposure within your portfolio. Here are few evaluative questions you may want...