Satisfied but room for improvement
March 24, 2023
Satisfied but room for improvement
Score 7 out of 10
Vetted Review
Verified User
Overall Satisfaction with D&B Finance Analytics
Since most companies provide their best accounts as credit references, they are not always truly representative of the risk or their payment behavior. We use it as a tool to provide a better context in which to view what is likely the best picture customers/prospective customers are able to paint.
- General Payment Behavior
- Alerts to changes in risk profile
- Trade Payment History
- Timeliness of data -- Very often, word of mouth reaches our sales team before the seriousness of issues are reflected in a customer's credit profile. For Example: United Furniture Industries
- Reporting does not reflect risk as a representation of our AR. As an example, the portfolio risk can look quite ugly if it is comprised of 9 struggling companies and 1 that is stable/pays on time; however, this is misleading if AR is unevenly divided amongst the portfolio. We have to address this now through a secondary step outside the portal
- The recommended credit limit is not always meaningful to the size of our business and often would not trigger the appropriate credit holds were the customer stray from their normal path.
- I am not sure we are able to provide a quantitative impact on a metric as a result of DNB. Our use is more as a tool out of a kit that helps to guide how much concern we need to express by shifts in payment behavior.
- Customers have commented on our "We report trade data to DNB" logo on our invoices, but I am not sure we can quantify a change to timely payments if there was any at all.
We use the data to understand when customers may be paying us more/less favorably than their other accounts. Also, it provides a measure for us to gain insight into when we may be needing to start working down an account balance because of a concerning data trend.
The process was quite painless. We sent a customer list and it was uploaded to our portal. We spend more time discussing the report rather than gathering data.
Honestly, we did not consider other tools for Regency Fibers. This was the tool of choice at my previous employer and I kept it for familiarity/simplicity when starting the new company.
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