Credit report is a report about the business and financial status of the company, you are interested in. Credit report is a convenient and inexpensive tool for risk assessment before entering in partnership, concluding a contract or before starting legal debt collection. It gives you the necessary information to make smart decisions about which customers you offer credit.
In addition to minimising your risk when it comes to the customers you deal with, credit report will also save you money. This report can serve the same function as a full time credit manager, risk manager and compliance manager, which means you won’t have to have a full time staff of people.
Credit reports will ensure you do not get involved with a business that is a credit liability or legal risk.