Signing a contract with a new client, you may feel a combination of nerves and excitement. Obviously, it's fantastic to have a new client but just how well do you know them? Do they have a history of not paying their invoices on time? Are they well established and have a positive credit line?
If you've ever had a client suddenly stop paying, you know all too well the frustration of trying to figure out why. It's easy to take it personally and wonder if you did something wrong. In fact, some businesses struggle to keep up with cash flow and can't pay on time. Instead of being blindsided and missing some expected income, your credit manager should implement a credit policy to include a credit check on clients before you sign a contract with them.
A credit report on another business allows you to gain insight into how the business is doing and who's running it. Business credit checks include:
Enterprise Recovery, LLC is part of an umbrella of companies called BYL Companies. VeriFirst Background Screening is our sister company and has recently announced the availability of business and corporate screening. Click the link below to learn more.
Business credit checks are available via a partnership between VeriFirst and Experian. Experian's database has information 99% of U.S. businesses and international businesses. You can rest assured in the quality and accurate information provided to you.