Did you know you can take advantage of several Experian small business credit services that can boost your profit? When you think of a credit reporting agency, you probably never thought their small business credit services went beyond providing the credit history of your customers.
However, Experian small business credit services can actually, protect your business from fraud, enhance your own business credit, and help you find more customers.
1. Reduce Consumer Credit Risk:
In todays economy, it’s important to be able to look beyond the credit score of a consumer or business you plan to extend credit to. Experian small business credit services allows you to get a complete picture of the financial health of any business.
Experian offers a service called Profile Plus. This service enables you to obtain in-depth analysis and information to help you make a smart decisions when issuing credit.
Two additional Experian services: Business Credit Advantage and Supplier Check Reports, will help you monitor the credit and business activities of vendors, partners, and sub-contractors.
You will be alerted when unusual credit activity is reported on any business your closely associated with and helps you avoid being taken by surprise by any associated business failure.
If you have to collect on past due accounts, Experian provides a service called Collection Advantage. Collection Advantage provides 24-7 skip tracing data. You get updated addresses, phone numbers reported on credit inquires, and personal data to help you reach the debtor.
2. Manage Your Business Credit:
The credit score of your business is vital for obtaining capital, future contracts, and can even impact the price you pay for insurance or your rate of interest on a loan.
A business report on your credit will go beyond the information on your personal credit report, and will include details on the business debt, officers of the business, public records, and past transactions.
Suppliers typically merge your personal credit report, and small business credit report, to make a decision to extend you credit terms. Therefore, the success of your business depends on your ability to maintain, or even enhance your small business credit rating.
Experian makes it easy for you to monitor or enhance your own small business credit with the Business Credit Advantage service. This subscription service which we previously discussed as a way to reduce credit risks with potential customers will also provide you:
– Unlimited access to your own small business credit score and report.
– The ability to automatically track any changes to any line of credit you have for your small business.
– Instant alerts by email of recent activity or inquires on your small business credit profile.
3. Quality Sales Leads and Marketing Services:
Experian small business credit services maintains an active, updated list of 110 million households and over 14 million businesses. Without having to register or sign up for any credit services, your able to immediately download a targeted list of potential customers.
From the Experian small business credit site, you can use demographic, geographic, financial, and personal interest of a potential customer to customize your own marketing contact list.
The site will provide you a total number of customers that fall into your selected criteria, and the total cost for the list. If the list meets your standards, just add it to a shopping cart, and have it downloaded instantly to your computer.
Experian can also provide you a market study for your area. You can learn what consumers in a select area buy, the brands they choose, and their opinions and attitude statements on health, shopping, travel, finance, or technology.