Changing The Way Business Information Is Used; Financial Payment Data Available To All Creditsafe Customers

ALLENTOWN, Pa., May 15, 2018 /PRNewswire/ -- Creditsafe, the world's leading provider of global business intelligence, has today announced enhancements to its U.S. credit information product portfolio with access to financial trade payment data. This information provides significantly increased insight into the credit and financial performance of businesses across the nation. The payment data includes trade line information from business leases, commercial credit cards and term loans that will enable businesses to make better, more informed decisions.

Creditsafe has the ability to source over $220 billion in trade from banks, credit card companies and credit unions. In addition to having this data within new sections on a business's credit report, this data can be leveraged by Creditsafe customers to enhance their credit algorithms to deliver even higher levels of predictability.

"While business credit reports and scores are traditionally put together using a variety of public and private information covering business demographics and company-to-company trade payment data, the addition of payment data showing not just how a business pays its bills, but how it pays its term loans, commercial cards and other debts takes our reports to another level," said Matthew Debbage, CEO of Creditsafe's Americas and Asia-Pacific division. "To be honest, any credit manager or business owner who makes a credit granting decision without viewing this data first is actually cheating themselves and their business by not taking the opportunity to see the whole picture. I cannot over-emphasize how important this information is," he added.

Debbage added, "Creditsafe has built its reputation and success on doing things differently. We are committed to changing the way business information is used and by adding in this payment data to our U.S. offering we are continuing to do just that and to provide American businesses with a compelling option. Our Analysis shows that a typical user will now have the added benefit of seeing financial payment data on over 40% of previously 'thin credit file' companies. We believe this increase in data availability is a complete game-changer."

Not only does this enhanced product provide detail on reported credit lines, it also highlights a company's total credit utilization and any past due or at risk balances. Details of closed accounts are included to provide a historical perspective to show if a business has a poor track record on inactive accounts.

Businesses who wish to benefit from this enhanced service should either contact Creditsafe directly or click here.

About Creditsafe:
Creditsafe is the world's most used supplier of company business intelligence with ten Creditsafe Group reports downloaded every second. Privately owned and independently minded, Creditsafe is looking to change the way business information is used by providing high-quality data in an easy to use format that everyone in an organization can benefit from.

Founded in Norway in 1997, Creditsafe has offices in countries all over the world including the UK, Germany, France, Sweden, Ireland, Italy, Belgium, the Netherlands, Japan and the United States. Globally, The Creditsafe Group employs over 1,000 people and has more than 100,000 subscription customers. In 2013, The Creditsafe Group opened offices in the US under the name Creditsafe USA, Inc.  Its U.S. operations are headquartered in Allentown, PA with nearly 10,000 companies in the U.S. subscribing to its services, ranging from small businesses to large, global companies like Staples, Ryder, and Nestle.

Creditsafe's global database is one of the most rapidly expanding in the industry and also one of the most comprehensive. Each day over 250,000 users around the world leverage the company's database to gather strategic, insightful business information. Creditsafe's database is updated over a million times a day with information gathered from thousands of sources. In 99.9% of the cases, reports requested by customers are delivered instantly. Over forty percent of Creditsafe's customers leverage the company's internationally reporting capabilities.

For more information about Creditsafe, please visit www.creditsafe.com.

SOURCE Creditsafe

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