- Simple, easy-to-use format makes it easier for SMBs to reduce risk
- New unlimited-use, time-based model means anytime access
- Special introductory offers available for a limited period
- New Risk Tracker enables monitoring of changes
London, 19 May 2017 – The UK’s best-value provider of business credit reports – checkthatcompany.co.uk (www.checkthatcompany.co.uk), is today launching a new-look website with a simplified set of payment options that will make it even easier for businesses to check the credit-worthiness of their new and prospective customers.
The service is designed to make it easy and affordable, even for small firms, to check whether they are at risk from customers or suppliers. It gives them access to the information they need about businesses and individuals and thus enables better decision-making and lowers the risk of bad debt.
The restyled website is designed to be welcoming, friendly and easy to use. A new time-based pricing model that gives users unlimited access to reports has been introduced and, for a limited period, discounted offers will be available on all three options:
- One-hour pass – currently available at £5 (normal price £10)
- One Month pass – currently available at £75 (normal price £100)
- One year pass – currently available at £250 (normal price £300)
These simple choices will give businesses access to unlimited information for the time they need it. Once they have obtained their pass, users can access the full range of reports on over 11 million limited and more than three million non-limited companies in the UK and Ireland. The reports are presented in a PDF format and easy to understand and include:
- Credit Ratings & Limits
- Five Years Accounts
- Payment Data
- Director Information
- Group Structure
In addition, with the new Risk Tracker feature users can follow firms and receive email updates whenever any details on those businesses change or new information becomes available. Users can set their own rules to determine which changes will trigger an alert. Companies can be added to the Risk Tracker with a single click, so users can quickly create a portfolio of customers, competitors and suppliers they want to monitor.
With the prospect of further inflation rises and continued uncertainty over how Britain’s exit from the EU will impact business, there is even more of a need for companies to ensure that new customers are legitimate and able to pay their bills. The checkthatcompany.co.uk website empowers every business to exercise good credit practice.
Quick, simple and extremely cost-effective, it provides access to the same information that large firms use to assess credit. By making regular use of checkthatcompany, firms can get to know their customers and suppliers better, reduce the risk of bad debts and improve their cashflow. These are all essential factors in helping businesses to stay healthy and grow.
A report by Amicus Commercial Finance, published in November last year, said a total of £134 million is being written off by UK businesses every day. It also noted that 76 percent of SMBs had written off unpaid debts over the past year. The average amount lost in this way was £11,708, representing just under £50 billion in written off debts. A separate study from the Federation of Small Businesses (FSB) said that 30 percent of payments to SMEs are made late, with 37 percent saying that this causes significant issues with cashflow.