Has anyone switched recently from D&B to Experian as their primary credit bureau, and if so how have you found the quality and quantity of information with Experian? In you experience, is Experian able to get financial statements as often from privately held companies?
Thank you
Michael Dennis
We are right now piloting exactly such a move. Our admin is running Equifax reports in place of D&B reports, and the credit managers are reviewing them. The biggest thing, besides price, is the ease of use. In my experience, very few private firms are giving *any* financial data out right now, largely due (I suspect) to the economy.
I know someone who used to work for D&B, and he was able to validate my concerns about their current methodology. Years ago, D&B sent audit teams out to review companies and their financials, getting "eyes on" to really investigate the companies they were rating. Nowadays, much of the information seems to come from a phone call saying, "So, tell us about your company."
We're leaning, I think, in the direction of Equifax, but the decision hasn't been made yet. I would also be very interested in finding out what others think about choosing between one or the other firm.
Thank you. I also look forward to hearing from others about this topic.
Yes, I am also am looking at Experian and interested in any pros or cons. Pricing is a factor and availability to good information on public and private firms. Any comments on Intellscore Plus and/or BPR reports will be welcomed.
Thanks, Rita
I am currently pull Experian reports. They do provide an Advantage report that contains data from the following sources: Experian, Equifax, Lexis/Nexis, and EDGAR. It also includes a business score and recommended credit limit. I also have the option to pull a Commericial Credit plus report (the old Intillscore plus BPR) which is The Commercial Credit Report Plus contains data from the following sources: Experian, Lexis/Nexis, and EDGAR. It also includes a business score and recommended credit limit.
So far we do like the Advantage reports very similar to what D & B offers. The cons so far have been some of the company officer information is outdated in one case by 4 years.
Here is how I see it:
Experian strength: amount of trade data on companies. Intricate scoring algorithms. Combination of consumer and business data for sole proprietors - Intelliscore.
Equifax strength: exclusive bank and credit line information which can really help when dealing with new companies. Acquiring more trade data. Here is a sample of their report: http://www.anscersx.com/download/equifax_sample.pdf
D&B strength: Name recognition with upper management. Financial data - but you have to watch the age of that data. Strong on the east coast.
I think every credit department can benefit from access to all these reports. Depending on the type of company or the credit extended one or more reports is your best bet.
For example: 1. your reviewing a new account, a corporation that is less than a year old: Pull an Equifax to see how extended they are with their bank lines, how many do they have, what size.
2. your reviewing a new account, a sole proprietor: Pull an Experian Small Business Intelliscore which combines the principals credit with the company.
3. A company is seeking a very large credit line - pull all three to cover your bases. A less than $100 investment in reports helps you see all aspects of the company.
Another report to consider, if you make your decisions based on tradeline information, is the NACM Report offered through anscers.com. It combines the data from 23 NACM Affiliates and costs $14.95 per report. No contract is needed.
Dina, Thanks for the suggestion!
I do really like those NACM reports. The Midwest affiliate offers unlimited NACM reports for a set price, does CMA offer the same? If so what is the price?
JC - regarding the NACM Report. Each affiliate that offers the report has their own pricing strategy. Some bundle with membership, some offer unlimited at set price, some offer quantity breakdowns.
I should also add, CMA can only offer the NACM Report to our members. If your NACM membership is with another affiliate, they are who you buy the NACM Report from.
CMA is using a per report pricing model with a $5 discount (per report) if you are a full accounts receivable contributor.
We are currently doing a side by side analyis and we have noticed that Experian's Corporate Structures are not accurate and the pricing is about the same.
Thank you everyone for your comments and insights.
MCD
Reading over my initial response, I want to clarify that it we have moved to *Equifax* and not Experian from D&B. For the most part, we're finding that, regardless of the credit bureau, it's very hard to convince anyone to part with financial data, and we're not getting much on Equifax. In fact, except for public companies, Equifax has roughly the same proportion of financials submitted as D&B, so far as I can tell.
I am finding that the info from the credit group is far more timely than the Equifax / Experian, you can get real time data on the pulse of the company that is applying. We go for Experian if the is a very large over 100,000.00 credit. other than that the Credit reference that the dealer is giving you is only a small window. I see credit applications that do not have ABC or XYZ on the app but I go to the credit group and I see that ABC and XYZ both have/had them and that they are on COD+, collection etc, just sold, the references that they are giving on the credit app are usually the ones that they pay in full, all of the time, or have very little business with that they have a good record with them.
Real time experience is going to be your best feel for the company.
What is most reliable credit report for international customer , South America / Europe /Asia?
Just checking in to see again if anyone has any additional comments on D&B versus Experian reports. My business is commercial accounts based.
I believe several individuals were reviewing both and making decisions shortly.
My understanding is Experian will have an increase of 4% and D&B no price increases this year is that what you are hearing also?
Thanks again for your comments. Rita
Regarding price increases, I've found that generally to be a function of the individual contracts, and not across the board, for either D&B or Experian.
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