Useful tool for analyzing credit risk
December 30, 2022

Useful tool for analyzing credit risk

Anonymous | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with D&B Finance Analytics

We use D&B Finance Analytics in order to decide whether or not to approve our customers for credit terms. When I first started with the company we used a different service, and they didn't have credit reports for more than half of the customers we were trying to look up. D&B has had detailed reports for almost every customer which saves us time. If their credit in D&B is good, we forgo checking references.
  • Has credit information for a wide variety of customers (even small businesses)
  • Is good at keeping information up-to-date
  • Easy to use search database
  • We are able to process orders in a more timely manner because we can approve credit instantly instead of waiting for responses from credit references
  • We are able to use the reports to deny credit terms for customers that haven't been paying other vendors on time. We still process their orders, but make them prepay (so there is no credit risk for us)
They have made our credit approval / denial process much more efficient. We are able to approve / deny customers for credit terms immediately, whereas before we would wait a week for credit references to respond, then wait another week after sending a follow up e-mail, and then denying terms if we didn't receive any response. There were plenty of times potential good customers were denied terms simply because their references didn't respond to our credit inquiries - this prevents that from happening.
The implementation was extremely easy. I used D&B in the past so I didn't need to be trained, but they do have a lot of training resources if it is needed. Our financial risks are greatly reduced- we are easily able to see if a customer pays vendors on time, and we normally approve or deny credit based upon that.
The service that we previously used was not found in the listings above, but they did not report on a lot of the businesses (especially the smaller ones) in our industry. When we were decided whether or not to switch over to D&B, we asked the rep for some sample reports on smaller customers and he was able to find reports on all of them (and none of those customers had reports available in the other database that we were using). The reports are also much more detailed than the previous one we were using.

Do you think D&B Finance Analytics delivers good value for the price?

Yes

Are you happy with D&B Finance Analytics's feature set?

Yes

Did D&B Finance Analytics live up to sales and marketing promises?

Yes

Did implementation of D&B Finance Analytics go as expected?

Yes

Would you buy D&B Finance Analytics again?

Yes

So far D&B has fit all of our needs - out of about 300 different credit reports that we've ran, we were only unable to find about 2 companies in the database.