How do we assess your customers?
The main sources to ascertain a business’ financial strength are its annual accounts, its management accounts and its historical payment performance. Some of it is public information, while the rest can be uncovered by talking to existing suppliers and searching for evidence of contracts gone bad.
With access to a vast spectrum of UK and Irish registered company data via our trusted information partners, we are kept up-to-date with adverse judgement events on companies as and when they happen. Similarly, in international territories we can check if the legal system has had to act to enforce payment in the past.
We investigate the customer with site visits, we review payment performance information, and we take into consideration the general economic conditions in the country where the company is based. By putting all this information together, we create an overview of their risk profile.
It's important to exercise caution when working with new customers. Fraudsters are implementing increasingly clever tactics in order to steal from unsuspecting people and businesses. For more information on how you can protect your business against fraud, take a look at our guide: How to steer clear of fraud.