Business Credit Report_LP
Take acceptable risks
Four good to take advantage of coface business information
- Indepth up-to-date information
- Guaranteed delivery time
- Online ordering and delivery system
- Reliable credit scoring based on Coface’s extensive experience and @rating approach
Non-payment risk prevention begins with gathering relevant and up-to-date information on buyers and their environment.Accurate and reliable information can assist in your decision-making process and protect your business interests.
Our business information services range from providing raw data, to providing recommendations on risk-taking.
In the context of trade risk management, we rely on a powerful global business information gathering and analysis network, enhanced by members of the “CofacePartner” network, who monitor and contribute to our databases in real time.
The information gathered and analysed is reproduced in several forms: reports, a summary indicator of single and global risk levels and various profiling recommendation tools. With our credit risk assessment services, you can manage your sales development efforts optimally and with confidence.
Delivering a valuable solution…
A Hong Kong pharmaceutical trading house purchases medicines from a number of pharmaceutical manufacturers in China and Europe. It also exports to many retail companies in South East Asia and distributes in Hong Kong. The finance department needs to review and monitor 500 companies to avoid possible losses due to non-delivery of goods by sellers and non-payment of buyers.
Coface provides the trading company with summarised and straightforward information on each of its suppliers and buyers, prepared by Coface’s experts in the form of reports that are reviewed every year.
On the strength of the information in the reports, the company decides to scale back its contract with three suppliers. According to Coface reports, the equity capital of the suppliers would have made them difficult to implement the capital expenditure needed to upgrade an existing medicine required by the new international standard.
The company also stops the 60-day credit terms of 8 retail buyers in one month according to the advice of the credit recommendation in the reports which are provided by professional credit analysts. 5 out of the 8 buyers go bankrupt two months later and the company does not suffer from any loss of payment default due to the early action of credit review.