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Customer Credit Check – Get comprehensive insights into your customer’s financial stability with Shergroup’s advanced credit check product. This tool is essential for businesses aiming to make informed decisions before extending credit or entering into new business relationships. Our Customer Credit Check evaluates the business credit history and financial health of potential clients, ensuring you have all the critical information to mitigate risks. By utilizing this reliable Company Credit Check, you gain a clear understanding of your customer’s payment habits and financial standing. Perfect for businesses of all sizes, our credit check product helps you safeguard your cash flow and build stronger, more secure business relationships. Trust Shergroup to provide accurate, up-to-date credit assessments to support your business growth.
PRODUCT INFO | Use this service to credit check your new B2B customer before you extend credit terms. Our specialist service is staffed by credit professionals who built scorecards back in the day for some of the biggest names in credit.
If you don’t know a potential customer’s credit history, there is a risk of being paid late or not being paid at all. Ask your new customers to complete a credit application form. This will give you the information you need to assess their credit risk and will also show them that you take a serious approach to grant credit.
PRODUCT INFO | Use this service to credit check your new B2B customer before you extend credit terms. Our specialist service is staffed by credit professionals who built score cards back in the day for some of the biggest names in credit. Today they use that experience to give a more personal and intuitive service into the creditworthiness of a UK business.
In a carefully curated report, you will understand in plain English the real trading position of this potential new customer and make informed decisions about the amount of credit you can offer based on their trading performance.
Your Credit Check report will be made based on current information for the month you submit it meaning you have a credit check in “real time”.
The report will cover |
BASIC INFORMATION | such as checking the company registration number, year of incorporation and net worth. It will also tell you the age of the last filed accounts.
STRUCTURE AND OWNERSHIP | The report will then move on to the structure and ownership of the business including connected businesses. It will confirm the company number of all these connected companies and the date of last filed accounts.
The report writing experts will then offer an insight into the trading status of the company, how it was formed, whether it was a phoenix company before, and what potential pipelines for business it has in the future. All this insight can help inform you about the extent of the new customer’s credit worthiness but also offer commercial insight for more opportunities.
SCORECARD | Our scorecard puts all this data and insight into perspective and is unique for each report. It will look something like this |
Scores (red cells indicate pro forma credit terms are recommended)
Date | Score | Credit Recommendation | Score and Risk Comments |
21/08/2020 | 43* | £5,000 | *new scoring algorithms |
08/07/2019 | 32 | £4,000 | New accounts filed (2019) |
19/04/2018 | 3 | £0 |
Scores are all on a range of 1 – 100 where 100 is lowest risk. Highest risk is in the range 1-10, and we also closely monitor higher risk cases in the range 11-20.
OTHER RISK INDICATORS | such as debentures, losses, management changes and changes to the financial year end are all highlighted.
KEY FINANCIALS | including the figures for the latest sales, fixed assets, current assets, current liabilities, working capital, long term liabilities, net worth and liquidity are all summarised in an easy to read table. Our experts will give you a commentary on these financials, which again will help you put them into perspective.
THE CONCLUSION | Finally, the report will include our expert’s conclusion on the likely risk you face in trading with a customer. For example, in one such report, our experts concluded “the opportunity to trade with [X} beyond any very small level of contract is a leap in the dark”.
The report may go on to suggest who our client should contract with – which may be a different part of the entity who you want to do business with.
In short, these reports are designed to distil all the financial information you can curate about a prospective customer, or an existing customer, and give you a readable and straightforward analysis of the business risk to your business in doing business.
Take control of your business decisions with our Credit Check a Customer service. Whether you’re in the UK or abroad, ensure you’re partnering with reliable customers by running a Customer Credit Check UK. Visit www.shergroup.com today and explore how we can support you in safeguarding your financial interests. You may have seen our expertise in action on the TV show, “Call The Bailiffs, Time to Pay Up”—now experience it firsthand with Shergroup’s trusted services.
Additional Information:
Shergroup’s Customer Credit Check product is designed to offer detailed insights into a company’s financial background. This robust tool compiles data from various reliable sources to give you a thorough overview of your customer’s business credit history. Whether you’re looking to assess a new client or monitor an existing one, our credit check product delivers precise and actionable information. With our product, you can quickly identify potential risks and make strategic decisions with confidence. Shergroup understands the importance of maintaining a healthy cash flow, and our credit check tool is a vital component in achieving that goal. It’s an indispensable asset for businesses looking to enhance their credit control processes and secure their financial interests.
Key Benefits:
Shergroup is a pioneer in the development of services connected to the world of Sheriffs. Its services have grown out of its heritage to now include specialising in the delivery of outsourced services for sectors that require the enforcement of orders, judgments, and awards. In addition to the core services, Shergroup has also developed a range of bespoke business solutions for the benefit of its community.
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Last updated | 19 July 2023
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