Payment Predictor and Payment Rating
Find out how businesses pay other suppliers
What is the Payment Predictor?
You can find the Payment Predictor on a CreditorWatch credit report. The Payment Predictor displays a company's payment history, including the average number of days that they take to pay their bills.
Industry history is also available, so you can compare how the business is paying in relation to other entities in the industry. This helps you identify and avoid slow paying businesses.
By making data-driven credit decisions, you can protect your business's cash flow and stay ahead of bad debt.
Compare a business's payment history to the industry
Track an entity's payment habits over the last 12 months in relation to the industry.
If they are slower than the industry, it's a good indication that this entity is a slow-paying debtor. Late payment invoices or deteriorating payment behaviour is a leading indicator of credit risk.
If they're a customer, address it with them immediately. If they're a prospective client, avoid them and mitigate the risk to your business.
Payment Rating
It’s as easy as ABCDE
Compare a company's financial stats with the industry's average.
On 1 July 2021, CreditorWatch launched Payment Rating - our latest product designed to shed light on slow-paying businesses. The new tool scans business-to-business transactions to measure the time it takes companies to pay their suppliers’ invoices. This gives CreditorWatch customers invaluable insight into their clients’ propensity to pay on time, or at all.
Payment Rating helps creditors understand their clients’ payment reliability based on their past behavior, using a simple ABCDE rating scale. It complements RiskScore; CreditorWatch’s industry-first credit score and rating system launched in 2020. The two products work in tandem to give customers an accurate indicator of credit and payment risk.
