Over the past few months, I have been approached by several people to be involved in their business venture.
I usually carry out a credit check on the background of the company and the people behind the company. I approach a service provider to carry out a credit check.
The service provider has the following data:
1. Litigation, identified by the parties involved
2. Bankrupcy
3. Company and business registration
These data are publicly available. The service provider has put them in a form that is easy to extract the relevant data and to produce a credit report.
I found the service to be extremely useful, especially for credit check of new or small companies. In some cases, I was notified about litigation or bankrupcy of the parties involved.
I am able to get a report within 1 day at a modest cost. The report can be quite detailed. I find the executive summary to be most useful. I was able to use the relevant information in my business decision.
The service provider will be marketing this service soon through an internet website. Apart from adhoc credit checks, the service provider will be able to carry out a continuing check on a list of business associates, and to alert the subscriber on any litigation involving these assocaites.
This is an example of the use of data in improving the productivity of your business, and to avoid or minimise credit losses.
If you are interested in this service, send an e-mail to me at kinlian@gmail.com. Give some background about your business and the type of credit check that you need.
Mr Tan, How much did you pay for a credit check?
ReplyDeleteThe service provider charged a very modest price to me.
ReplyDeleteHe will be launching this service in the internet. I expect the cost to be quite modest as well. It will depend on the extent of the search.