What is Data Contribution?
Data contribution is the reporting of your company’s full accounts receivable information, which is reflected on business credit reports of your customers in the form of tradelines. Data contribution is the foundation for building credit reports.
Why Should You Contribute?
By contributing your full accounts receivable information, you have the ability to positively affect your good paying customers by showing their payment history while also reporting your delinquent accounts. In today’s world, businesses are keenly aware of the importance of a good credit rating in order to receive loans and credit from financial institutions and suppliers. Contributing your data also gives you an added debt collection tool. In many cases, customers may choose to pay you over another non-reporting vendor because they want their good payment history reported.