Veda Commercial Credit Analysis
"Positive trade reports will revolutionise the commercial credit reporting market by encouraging the use of positive data as a dayto-day credit and debt management tool."
John Roberts, Managing Director
A revolution in data management.
Veda has developed our Commercial Positive Trade Bureau to receive and report on aged debtors' data for organisations that our clients supply products and services to. Now the largest consumer bureau in the country has a commercial bureau that can hold positive trade data. New fields have been formatted so that trade data can be summarised, consolidated and analysed together with credit exposure to the industry vertical the debtor trades in.
Veda has been working closely with suppliers to the hospitality and restaurant sector to develop the model and get it to market. We've also captured traders in the Agriculture, Manufacturing, Wholesale, Retail, Healthcare, Sports and Recreation, Transport and Utilities industries.
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Positive data allows Veda's clients to have a more comprehensive view when managing their debtor risk profile. Veda has designed and implemented additional data fields (such as amount of current purchases, amount overdue, average number of days it takes for a customer to pay, etc) which will be added to our existing commercial credit report.
The 'new' commercial report is only available to organisations that contribute data to the Bureau. The new reports have been available to Veda Bureau Subscribers, who supply trade data, from August 2009.
Minimise your risk. Maximise your return.
From this information we plan to build early warning products for financial stress monitoring, like alert notifications of the overdue debt by days or by amounts, those put on stop credit, and year on year trends of trade payment. This is designed to assist Subscribers to minimise their delinquency rate by intervention and management.
What our new Positive Trade Reports offer:
- Updated report with new information from statutory registers
- All registered entities including Companies, Incorporated Societies, and Charitable Trusts.
- An Activity Summary
- Full listing of Financing Statements registered against the organisation in a short format
- Hyperlinks on Affiliated Companies, Shareholders and Directors.
Positive Trade Reports can help you address issues such as:
- Should I provide goods and services to this company on credit terms?
- How soon will I get paid?
- How many days does this customer take to pay suppliers?
- Has this company been paying other suppliers?
- What are this company's current purchases from other suppliers?
- What is this company's probability of default?
- How much credit should I extend to this company?
- Should I do long-term business with this company?
Veda Subscribers who share positive trade data can have the opportunity to view critical trade payment information including:
- Current Purchases
- Overdue Debt
- Total Reported Debt
- Weekly Outstanding Debt and the detail of each weekly transaction
- Monthly Outstanding Debt and the detail of each monthly transaction
- Trade Payment (number of days it takes the debtor to make a payment)
- Moving Average of the Trade Payment (taking less or more days to pay).
Be positive, call now.
Veda's Positive Trade Reports are set to revolutionise the way New Zealand businesses manage their debt and credit. If you would like to know more about this new service and how it can help you, please contact your Sales Representative or call 0800 653 309.