Great Product.
Use Cases and Deployment Scope
We use D&B Finance Analytics in order to evaluate the creditworthiness of a client. This is helpful in avoiding risky contracts and having another set of eyes watching our customer base for changes in payment behavior or business issues. We use this tool to also gauge whether it is worthwhile to spend our resources bidding on new contracts or if the risk outweighs the potential benefit.
Pros
- Shows trends of how promptly or slowly a business pays their trade partners.
- Quickly notifies us of significant legal issues.
- Provides good metrics regarding the financial health of a business.
Cons
- Provide EIN number of the business to ensure you are viewing the correct business.
- Have an easier, clearer way to view a parent company and its subsidiaries or a main entity and its other addresses, so basically clearly define if it is the same entity.
Return on Investment
- We were able to make a decision on a troubled account based on notifications we received from D&B which helped avoid excess exposure.
- Our sales are increasing due to taking on more business with confidence.
- Our credit review process is more robust as we are not relying on references solely.
Other Software Used
QuickBooks Desktop Enterprise, OneNote, Adobe Acrobat
