Veda Commercial Credit Analysis
Veda Commercial Consulting
Veda Verification
In harsh economic times, it's important you know everything about the business you're dealing with and the people behind it to help reduce the risk of potential business losses. Identifying high risk customers is key in protecting and growing your profit. Veda's credit score products quickly identify potential low or high risk credit applicants based on their Veda credit report - to help you maintain and grow your profit in today's economy. Using sophisticated statistical analysis, our credit score products identify risks not directly evident in a data only credit report giving you a simple, effective and streamlined solution helping you manage credit risk in your business.
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.
If you're about to enter into a business relationship with another company, you need to make sure they're credit worthy. Often only the credit history of the organisation is checked but understanding the people behind a company gives you a sharper and more accurate indication of risk.
You need to make quick and accurate credit decisions if you aim to provide a streamlined customer experience while at the same time managing business risk and complying with legislation. If credit is granted to high risk applicants the result may be bad debt write-offs. On the other hand playing it too safe can mean low acceptance rates, market share and profits.
Industry changes over time impact the credit patterns of organisation's enquiry patterns, default occurrences, insolvencies and the number of companies entering into external administration. Gaining insight into these changes can increase your ability to make proactive decisions to help manage risk and maximise opportunities.