Ensure you always make the best credit decisions

Aug 31, 2022 | Blogs

Discover four key benefits of using business credit report data

Xactus has the business credit reports that help you make correct and consistent business credit decisions with confidence. Our business credit data tools give you the information you need to confidently assess your lending decisions.

Many of Xactus’ programs give you full access to commercial data* and more. For example, our Business Credit Reports give you a treasure trove of insights:

  • Real-time lease/loan data from 500+ lenders
  • 3.5 trillion in commercial debt originations
  • 30 million term debt/lease contracts
  • Trade and financial payment history
  • Corporate family trees
  • and much more

To put this in perspective, it’s one of the largest data sets of small business loans, leases, and LOCs (Line Of Credit). It encompasses at least 20 industries and over 200 unique data points.

Here are four ways business credit report data can benefit your business and lending credit decisions and practices:

1. Understand Each Customer and Risk vs. Reward

Each lending decision comes with a unique customer situation and set of variables. Leveraging the business credit data available allows you to:

  • Zero in on risky accounts lurking in your portfolio
  • Efficiently hedge against losses by better managing partnerships
  • Assess cost of capital and client acquisition strategies
  • Collect real-time data to proactively segment accounts by risk level

2. Faster Workflow, Better Results

Combined with minimizing your risks, a more efficient review process means growth and profitability. By using verified customer credit data, you can make consistent and equitable credit decisions. The credit reports will give you a uniform set of data that all your credit decision-makers can use.    

Use the business credit report resources available to:

  • Quickly generate reports across multiple criteria and business segments
  • Add future-focused credit risk ratings into your review process
  • Rate each account without the hassle and expense of individual credit reviews
  • Leverage artificial intelligence (AI) and comprehensive analytics to quickly spot red flags
  • All credit granting staff will make dependable and logical credit decisions

3. Streamline Your Collections

  • Direct your efforts towards accounts that require more attention and care
  • Stay ahead of collections by assessing your system’s ability to rank order risk
  • Enhance your collections’ efforts with accurate default analysis and tracking
  • Ongoing monitoring data will alert you to changes in credit customer risk

4. Engage and Grow!

With all of the benefits mentioned above, you can see that business credit data is priceless for institutional growth. Through Xactus and our commercial credit data, you’ll be better equipped to grow your profits on both sides:

Fewer costs – Less late- and non-payer and reduced borrower touch time.
More revenue – Increased pricing accuracy, applications, and overall wins.

To get access to commercial credit data, contact your Xactus strategic account manager today.

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