January 19, 2018
Score 10 out of 10
Overall Satisfaction with D&B Credit
We use D&B Credit in several ways. One way is for verifying a company's legal name and corporate family tree. Another major reason we use it is to assess trade risk by using the pay history and financials. It is mainly used in the risk underwriting department, but a few select others across the credit department have access to the reports. The reports aid in identifying high risk companies which ultimately affects the bottom line by minimizing balance sheet risk by helping us avoid bankruptcy exposure and write-offs.
- The family tree is valuable for identifying accounts receivable exposure across an entire organization. It makes it very easy to figure out which company is a subsidiary or parent of another company.
- The PAYDEX and trade experience portion of the reports help identify potential slow-payers and high risk companies so that I can establish appropriate credit lines.
- The search function is very good and allows companies that use trade names to show up in the results, as well as the legal names.
- The foreign reports are not very detailed and not worth the extra money that you have to pay to have them.
- Sometimes the family trees are inaccurate and an investigation is needed to fix the linkages.
- The legal names are sometimes inaccurate and also require an investigation to fix.
- We use it to pass audits and remain SOX compliant. As far as I know, we have not failed any yet.
- It has helped avoid high risk customers to minimize write-offs and losses.
- It is a bit expensive, but 100% helps me do my job faster and more efficiently.
- creditriskmonitor and Cortera
I've used Cortera in the past. It seems to be much more detailed and easier to use than the reports they provide. The cost difference is tremendous, but you get what you pay for. CreditRiskMonitor is only used for public companies. CreditRiskMonitor is good for assessing overall financial health of companies but it does not dig into trade detail specifics as does D&B Credit.
D&B Credit is amazing for any organization that wants to protect their bottom line from trade risk. It is very useful for assessing total exposure across an entire corporate organization and averting high risk scenarios. The best parts of the report are the trade payment history and corporate links. I would probably avoid the product if most of the business that a company conducts is outside of the USA since the foreign reports don't contain much detail. All in all, it is the best tool to use in a credit underwriting and credit line setting of a credit risk department.