Focus on: Credit Report

Focus on: Credit Report

 

What is a Credit Report?

 

A credit report is an essential device to do business at local and international level. In fact, it is a risk evaluation tool that help companies to assess the reliability and creditworthiness of clients and suppliers they want to made business with, in order to avoid reputational, operational, financial and legal threats.

 

What information does it provide?

 

The report contains information on company identification and structure, company status and financial standing, negative legal events and adverse data, business management and shareholders, details on activities and related parties. In addition, a credit report shall always include a risk assessment and credit limit, in order to accurately determine a company creditworthiness.

 

Who provides the information?

 

Business credit information availability is not the same for every country, because of economic, political, fiscal and legal rules. Only local providers with an in-depth knowledge of the business environment of the country can provide trustworthy information and establish the correct parameters for a reliable credit assessment. Local providers access all the local public official entities in order to gather information and in the countries where the official information is poor they access also third party sources or try to get information directly from the company.

 

Which data can we find in a Skyminder Credit Report?

 

Skyminder give access to the most valuable business credit information on worldwide companies from the highest quality local providers through a single platform.

 

The Information is delivered in the original Skyminder format, with a standard layout that makes reports simple to read and to analyze.

 

Every Credit Report gives data about:

  • Identification: data useful to finding a company using business registration details, legal form and address.
  • Risk assessment: rating to understand the risk level combined with the credit limit to get more insights into company vulnerability. Local Rating is focus point for company and risk assessment, starting from country-based information, avoiding to standardize assessments and miss local specificities.
  • Firmographics: industry code, number of employees, all information allowing to classify companies.
  • Financial information: if the legal form requires the submission of financial data, balance sheets and ratios to evaluate financial strength.
  • Negative and significant legal events: crucial to know if information can affect risk level.
  • Historical data: changes that occurred in the past involving company management.
  • Business management: both current and past senior management.
  • Company structure and relationships: linked to legal form, data to build a map of company relationships, shareholders and ownership.
  • Bank details: name, address, branch of the bank used by the company, if available.

 

Skyminder reports are available for 230 countries and territories. Credit Reports can be available on-line or freshly investigated, it means high quality guarantee information everywhere in the world.

 

From reports instantly generated to ones requiring additional analysis to verify and collect data due to lack in sources organization. Both processes are bases on SkyMinder Business Information Ecosystem always working with best data accessible.