Knowing a supplier's business history (dirty little secrets and all) can give a purchasing manager an edge when it comes to deciding what company should win procurement dollars.
For instance, if a supplier has liens filed against it or is notorious for slow payments, the likelihood that the supplier will provide slow delivery is pretty good.
Enter the Credit Risk Advisor from Experian, an information services company, and eCredit, a provider of online solutions for credit and collections professionals. Credit Risk Advisor is a portfolio management credit decision-making tool that enables users to access credit scores, payment history, notes and approved credit limits for all businesses in the United States.
"From a manufacturer's perspective, it's only a matter of time before they start experiencing what others are dealing with," says Dan Meder, senior director of Commercial Credit Solutions, Experian's Business Information Solutions group.
According to Chris Hobson, chief marketing officer for eCredit, many businesses pull reports on a company at a single point in time and feel that they've adequately done their due diligence. "That information is stale. Other things could have changed over time," says Hobson.
The new service, which is Web-based, also will evaluate account portfolios using automated customer-defined rules and will aid in the immediate identification of unwarranted credit exposures before significant problems arise, according to the companies.
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