Specific Applications of Credit Bureau - Pre-Credit Check

Continuing from how credit bureau can be applied throughout a credit evaluation process, now let’s focus a bit more in each specific stage application.

Credit is often extended to establish good potential working relationships yet ability to make good credit decisions seems to be an art and science. SMEs and even some MNCs rely heavily on the managers’ experience and knowledge to make a relatively intuitive-based credit decisions. While bigger firms are able to withstand such potential credit default risk, the effects are however magnified for the smaller firms.

Credit decisions no longer have to be intuitive and experience based with the introduction of credit bureau, where it will be based on information and analysis.

In the pre-credit evaluation stage, all credit control officers, sales manager or even accountant will need to answer 3 questions in order to make a decision. The infographic below will show you how credit bureau tackles such difficult questions.

At DP SME Commercial Credit Bureau, we provide a wide array of information easily available to assist all corporations out there with making sound, informed credit decision. With more than 10 years of experience in establishing and building a credit bureau in Singapore, you can be assured our database will be able to meet your extensive business needs. DP Information group pride itself as the SME Knowledge Partner and in a good position to provide industry trends and pattern which will provide a good benchmark to make realistic and wise credit decision.