When you perform a credit score check for your new customer, if the ABN/ZNBN or Business name is found and registered, the screen will display the following details for you as below screenshot.
Through our partnership with illion, we are able to provide the Late Payment Risk Score and Failure Risk Score real time through an API integration.
Please note all information below is provided by illion.
Late Payment Risk Score (LPR)
LPR predicts the likelihood of a company paying in a severely delinquent manner over the next 12 months. Delinquent Payment is defined as, “at least 10% of trade experiences 90+ days beyond terms.”
Industry averages are also provided in reports as a benchmark to assist evaluating companies operating in different industries, or industries where a different payment behavior may be the norm.
Key Influencing Factors
Data elements used to assess the likelihood of delinquent payments include:
illion's trade payment information and collections data
Company/Business demographic information
Directorship information
Public record information
Score Key
The primary output of the Late payment risk scoring model ranges from of 101 to 799, where 101 represents the highest risk and 799 represents the lowest risk of delinquent payment.
Each Late payment risk score (within the range 101-799) has a related probability of delinquent payment within a 12-month period.
For Australia, refer down below:
For New Zealand, refer down below:
Failure Risk Score (FR)
FR predicts the likelihood that a business will seek legal relief from its creditors or cease operations leaving unpaid debts in the next 12 months.
The legal events which constitute failure include forced change of control, forced business closure, and involuntary deregistration.
Key Influencing Factors
Data elements used to assess the likelihood of failure include:
illion's trade payment information and collections data
Company financial information
Company/Business demographic information
Directorship information
Public record information
Score Key
The primary output of the Failure risk scoring model ranges from of 1001 to 1999, where 1001 represents the highest risk and 1999 represents the lowest risk of delinquent payment.
Each Failure risk score (within the range 1001 to 1999) has a related probability of distress within a 12-month period.
For Australia, refer down below:
For New Zealand, refer down below:
