OneSource Business Information Services, a provider of prospect and business intelligence information and an infoGROUP company, has launched Credit Risk Indicator, a new service that provides the information businesses need to make an instant decision on the creditworthiness of new client and reduce business risk.
Credit Risk Indicator helps procurement, credit control, finance and sales teams to quickly assess the creditworthiness and/or status of a company or director.. This web-based service is fully customisable enabling companies to set their own risk parameters and financial scoring algorithms to create a system that the entire company can use.
Users of Credit Risk Indicator simply enter a company name and are presented with a traffic light or score to quickly and accurately determine the credit worthiness of over 2.8 million UK businesses. They can also take a look behind the pass/fail to conduct more detailed analysis of the business' financial performance if required.
"Companies need a quick way to assess risk," commented Steven Shove, Vice President at OneSource Information Services. "Too often, companies provide products or services to companies who are simply unable to pay. Many often comment afterwards 'if only I'd known, I would never have traded with them'. Providing accurate information helps set accurate limits on how much credit is given to high risk businesses. Reducing the risk of dealing with a company who cannot pay can make the difference between business success and failure."
Credit Risk Indicator combines information from OneSource with any existing data from the customer's own proprietary systems and other third party services such as rating agencies to provide a true single view of a company's credit worthiness and status.
Separately, OneSource Business Information Services, a provider of prospect and business intelligence information and an infoGROUP company, has launched a new service that provides sales marketing and business professionals with detailed analysis of global markets.
Market Analyser provides businesses with a deep understanding of the opportunities and risks of their target markets so that they can drive revenue or reduce cost and risk even in a recessionary environment. Sales, marketeting and business professionals can use Market Analyser to stay ahead of the competition through conducting:
- Target market sizing
- Market segment analysis and ranking
- Competitive landscape analysis
- Prospect evaluation and list creation
- Customer change analysis.
"To effectively drive profitability, businesses need to analyse their markets to understand what their most lucrative business activity is and who their best customers are," commented Steven Shove, Vice President at OneSource Information Services. "Further, detailed knowledge of the competitive landscape and market penetration can help businesses focus on the most profitable segments. No business can afford to get it wrong or waste time following gut instincts, particularly during a recession. Market Analyser helps their chances of business success so that they can be more confident of coming through a recession."
Market Analyser combines customer, market and prospect data from OneSource global information sources with strategic business consultancy from a team of dedicated business consultants. Customers receive an analysis of current business activity against current strategy that includes actionable recommendations of change that will improve growth plans and business profits. The service includes project management support for integrating OneSource global business intelligence with a customer's existing proprietary data and existing systems and processes.