What is a Credit Score?
A credit score provides an instant assessment of a company’s creditworthiness without you having to perform a thorough analysis. CreditorWatch analyses various contributing factors, summarising the risk levels of a business entity.
With six risk levels from low to critical, credit scores can help you decide whether to begin or cease trading with a business as to avoid the hassle of dealing with slow or non-paying customers.
Key contributing factors
- Entity type, age, structure and operating history
- Number of directors and director history
- ASIC and ABR changes
- Court actions, payment defaults, insolvency notices and mercantile inquiries
- Industry and trading history
- Number and frequency of credit enquiries
- Suppliers monitoring the entity