A note from Jan Minniti, Senior National Account Executive

Among my colleagues and other professionals in the credit field you will hear us say that not all credit reports are created equal. There are a lot of reasons we know this to be true. While some reporting agencies provide valid, reliable and – most importantly – current data on businesses, others quite frankly, do not. Even among the best reporting agencies, there are different reasons to choose one over the other.

  • Not all credit products are reliable. Although price is important, it shouldn’t be the main reason you go with one company over another. Lately, there are quite a few low-cost providers appearing in the marketplace. It makes me think of the adage; “You get what you pay for.” Some credit reporting bureaus simply do not have data that is as fresh or as reliable, as it could or should be. At NACM Business Credit Services, we have seen some clients try a cheaper provider, or one not as well-suited to their industry, only to come back to us for a more reliable report.
  • Each provider has their niche. Some credit reports, even among the most trusted names in the business, are more reliable for particular industries. If you work as a credit manager in the construction industry, for example, I would recommend a credit report from a different bureau than if you worked in the retail clothing industry.

Accounts receivable is one of the largest assets of your company. It must be protected during the entire sales process. When you make a decision using inferior data, you risk not being paid. I refer to those transactions as gifts. Most companies cannot afford to gift too much of their business and continue to be solvent.

  • My advice comes without a specific product sales target. There are an array of different variables to consider when choosing your credit reporting agency. What is your product line? What is the size and age of the business you are selling to? Should you also gather credit information on the business owner(s)? Whether you’re buying Experian, Dun & Bradstreet, Equifax, or other credit report products, we’re here to help you figure it out. This is all-the-more true when you have a problem or a more complex situation with a current or prospective customer.

Our executive team, including Ben Cox, Jaime Gibson, and I have been at this a while. Together, we have about three-quarters of a century of experience in credit and collections. And, my advice comes without prejudice or the need to fill a sales quota for a particular brand name. We are here for the sole purpose of ensuring you get the most accurate, up-to-date information on your customer.

Just like Cinderella, one shoe doesn’t fit everyone. When you’re trying to decide which product or provider is right for you, we are happy to assist you in your decision making process. After consulting with you to identify your needs, we will recommend the product(s) that fit you best. We also stand ready to provide you with amazing customer service, especially after the sale. You can count on us, all the time.

We look forward to hearing from you and helping make the credit report selection process a much more effective and easier one. If you have a question, please call us anytime at 800-432-5710.

Jan Minniti serves as Senior National Account Executive and has been with NACM Business Credit Services for 30 years.  She knows the credit reporting business better than anyone, including those in the credit reporting agencies. Take advantage of her vast knowledge of the credit profession that Jan and her colleagues offer.