Easily Check if Your Vendors and Clients are Credible

Insuring that your new business partners, vendors, and clients are trustworthy and reliable is a huge priority. You don’t want your business to be vulnerable to threats.  Just as you perform background screening on potential employees, why not do the same to businesses as well? By running an Experian® Business credit report online, you’ll find out who are trustworthy, sidestepping risks to your business and reputation.

What is an Experian® Business Credit Report?

Experian® Business credit reports give you the information to determine if the business practices and general dealings of your potential partners, vendors, and clients are ethical. It can help prevent you from getting involved with high-risk organizations. While you might be hesitant to obtain a business’s credit information, if the company is financially trustworthy, their report can actually rule in their favor. Consider this; many presidential candidates release their tax returns to add credibility and show voters they aren’t involved in any underhanded dealings. Just as political figures utilize this to showcase they can be trusted, your potential partners, vendors, and clients can as well. As long as they have nothing to hide, it’s a win-win situation.

CIC is offering Business credit reports online with no signup required. In fact, you can search for your potential partner, vendor, or client online before you purchase the report!

Business Reports on . . .

Potential Partners: Before associating your brand with another organization, be sure they have the kind of reputation you feel comfortable being a part of. Knowing whether a potential partnership could tarnish the good name your company has built is essential before getting involved.

Vendors: When your business is reliant upon the products and services of another organization, it’s in your best interest to know they will be there as long as you need. Companies that are high risk may present difficulties maintaining the quality you expect over time.

New Clients: if your business provides a product or service with a ‘pay later’ invoicing structure, you need to be certain they can afford the bill. Companies that demonstrate a history of not paying their bills, or paying late, are likely to continue that trend with you.

After receiving the business credit report, you’ll be able to see if the organization is high or low risk based off of their Experian® credit information. The report will also reveal 3rd party vetted data from merchants (like FedEx) that do business with the company and government agencies (like SEC, Secretary of State, and bankruptcy courts). Be aware that while you might find other business reporting services with data that differs from Experian®, many of these services rely on “self reporting” data. This means the company owner can easily exaggerate their business size and financial strength to seem more legitimate.

In order to protect your company and reputation, pulling business credit reports is essential. Rather than jumping into business with partners, vendors, and clients blind, get the information you need to see that their company is truly trustworthy. They’ll appreciate that you’ve gone the extra mile as well.

How do you currently determine whether a potential partner, vendor, or client is credible? Do you utilize business credit reports?

Share your process in the comments section below & be sure to subscribe!


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Becky Bower is the Content Strategist here at the CIC Blog. She holds a degree in English, with a focus in creative writing, from CSU Channel Islands. Her biggest weakness is cake and favorite superhero is Batman.

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