Oct. 22, 2007 National Credit News (NCN) and Ethica: a new alliance – As part of Ethica's service to our clients, we have successfully negotiated a partnership with the NCN to provide content to their magazine.
How can Ethica’s “Real-Time Live-Data” assist my organization?
Global economic indicators still are quite strong; however analysts are starting to use those famous words such as; melt down, volatile, instable, debt nation, unpredictable fluctuations and so on. In simplified words these are the first signs which indicate the possibility of “quick or unpredictable changes”. Many organizations are not financially structured to absorb such quick up and downs trends. Therefore a good credit risk can turn on you very quickly.
Credit Adjudication shouldn’t be a Gamble!
Research shows the primary reason for bad debts or acquisition of slow paying customers is inadequate credit information. Our internal research indicates that an estimated 80% of creditors which suffered bad debt write-offs, do not have a 12 month current credit report on their customers. We estimate that only 10% of all credit grantors actually request a Real-Time bank check on their customers.
Hence the expression; a sale is not complete until you get the cheque. Since the sales-credit cycle is only completed once you receive your cheque; can you afford not to know what banking facilities your customer has? In addition to In-File credit reports only a real-time banking report provides a true X-ray into your customer’s financial resources.
Full-service credit bureau