CreditorWatch has made changes to its Credit Enquiries widget which have made it more accurate and provides businesses with further information.
The most notable change to the widget is that the calculations have changed. Instead of viewing the number of credit enquiries in all time, they are now calculated over a 5-year period.
The widget makes it easy to identify the total enquiries to date with a standout number in red on the left. From there, you can now click on the detailed view to see a visual line graph of credit enquiries in the last 12 months. You can also view a table breakdown of the past 12 months ordered by industry or date.
The industries listed are based on business entities who have been assigned official ANZSIC industry code division sets. ANZSIC codes have been developed in Australia and New Zealand for the production and analysis of industry statistics.
Industries and the dates provided can provide a customer an idea of who has been enquiring about the business. For example, if an entity shows a sudden large increase in the number of financial institutions enquiring about it, this could mean that they may have been applying for a lot of credit and supplier hopping.
Credit Enquiries can provide additional information to assist with your judgement and getting to know a customer.
For more information about Credit Enquiries, contact your account manager.
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