Understanding Credit Scores: Powered by Creditsafe
In today's business landscape, the accuracy and reliability of credit scores are paramount for making informed financial decisions. At ezyCollect, we understand the importance of this data, which is why we partner with Creditsafe, a global leader in business credit reporting, to source our credit scores and reports for our clients in the USA.
Please note that ezyCollect only provides Credit Scores and Credit Reports via Creditsafe for business entities in the USA.
Who is Creditsafe?
Creditsafe is a renowned provider of business intelligence, offering one of the world’s most comprehensive commercial databases. With a focus on delivering reliable credit information, Creditsafe operates across multiple industries and countries, serving more than 100,000 customers worldwide. Their extensive data collection and rigorous analytical processes make them a trusted source for evaluating the financial stability of companies globally.
How are the Credit Scores derived?
Creditsafe's credit scores and limits are derived from a blend of official and proprietary sources. Their data collection process involves collaboration with government entities, court systems, and an extensive global network of international data partners. To further enhance data validity, Creditsafe integrates trade payment data from trusted suppliers, offering a comprehensive and accurate picture of a company's financial health.
Scores & Limits
Creditsafe’s scoring system is designed to facilitate quick and precise assessments of a company's financial stability. By employing advanced statistical techniques and analyzing key metrics, Creditsafe predicts up to 70% of company insolvencies within a 12-month period. Their Credit Score, ranging from 0 to 100, indicates the level of risk associated with a company: a higher score suggests lower risk, while a lower score indicates a higher risk of default or bankruptcy. For clarity, scores are color-coded, with green representing low risk and red denoting high risk.
Creditsafe’s Credit Score is supported by robust statistical analysis, taking into account variables such as financial records, trade payment history, industry sector performance, legal filings, and company demographics. This comprehensive approach ensures an accurate assessment of a company's creditworthiness.
2. Core Business Data
A crucial aspect of Creditsafe’s reports is the inclusion of core business data, which provides insights into potential future challenges a company may face. This section includes information about significant changes in a company’s leadership or any legal issues, such as liens, that may impact its operations. Understanding the leadership and key decision-makers is vital for predicting a company’s future direction and stability.
3. Payment Data
Payment history is a critical component of Creditsafe's credit reports. A company’s past credit management is a strong indicator of its future financial behavior. Creditsafe’s reports offer detailed payment histories and trend analyses, with millions of new payment experiences continuously added to their ever-growing trade database. This data helps predict whether a company might fall behind on payments, which could signal future delinquency.
Through our partnership with Creditsafe, we are able to provide you with reliable and precise credit scores that help you make informed decisions with confidence. Whether you're evaluating new business opportunities or monitoring existing relationships, Creditsafe’s data ensures you have the most accurate financial insights at your disposal.
You can find a sample of the credit report within the ezyCollect app.
Learn how to Search and Request for Credit Scores and Report here