Credit Insights will help businesses reduce risk of bad debt and increase supplier stability

OneSource Information Services is pleased to announce Credit Insights, offering up-to-date credit information on over 2.8 million UK companies with data provided by Creditsafe, the business credit information experts most chosen by UK companies.

OneSource Credit Insights is used by:

• Sales & Marketing groups to target prospects with an acceptable likelihood of paying or targeting prospects by credit limits exceeding a specified threshold.
• Procurement and Finance departments to determine the stability of suppliers.

The credit report provides an appropriate credit limit and also displays a simple credit “thermometer” that makes it easy for users to quickly determine the level of credit worthiness. The report also provides key financial data, details of any outstanding mortgages and charges, unsatisfied county court judgments, and key figures relating to credit from the cash flow and ratio sections of the financial reports.

“Companies need a fast way to determine financial risk from a trusted source,” said Steven Shove, Vice President at OneSource Information Services. “Up front research can save money later. Credit Insights provides a quick snapshot of essential information on credit worthiness and also provides additional detail for those that need to take a deeper dive into the company’s risk profile.”

Creditsafe Group CEO Cato Syversen added, “We are delighted to be able to provide the key data to enable Credit Insights to go live. As the UK’s most chosen supplier of Business Credit Information, we are already helping protect 25,000 companies from the threat of bad debt. In these difficult financial times it is vital that as many businesses as possible make their decisions based on the best possible information and Credit Insights will help many more businesses do just that.”

Together with the credit report, the user is also able to view the credit rating and limits in their own customised format, allowing them to review their company lists or company searches together with credit data.