New Business Credit Report Combines Data from Major Providers

anscersX Combined Business Credit Reports offer easy access at a reasonable cost for data from Dun & Bradstreet, Equifax, Ansonia Credit Data and Credit Management Association on one report.

April 18, 2012 – Burbank, CA – In response to requests for easier access to information and a growing preference for transactional reports over credit reporting contracts, Credit Management Association™ (CMA), in partnership with the Trade Information Exchange TM (TIE), has launched the anscersX Combined Business Credit Report.

“CMA’s membership represents many small to medium sized companies,” says Michael Mitchell, President of CMA. “They are requesting comprehensive information on potential and existing customers at prices that fit their budget. anscersX Reports combine data from major providers giving them a more complete picture of their customers on one report.” CMA Members appreciate the ease of access to data from multiple providers without contracts. Diego Jimenez, Credit Analyst, Accuride International, Inc. agrees, “I really like that there is more than one provider on one report.”

Combining data from D&B, Equifax, CMA and Ansonia Credit Data is a unique approach developed by the Trade Information Exchange. “We put a lot of effort into combining the data from multiple data sources in an easily understandable way,“ offers Robert Shultz, Vice President of Marketing and Strategic Partnerships at TIE. “Additionally, on the anscersX Report we have introduced a combined credit score incorporating data from Equifax, Ansonia and CMA.”

The anscersX Report is helping credit departments with limited time and resources gather credit information quickly. “It is worth it to get an answer in minutes as opposed to calling all the trade references on a credit application,” says Mary Donaldson, Office Manager, Worthen Equipment Inc.

The anscersX Combined Business Credit Report is available on a transactional basis online by registering on CMA’s services site anscers.com. Pricing is $51.95 or less depending on the data sources you choose. There are no contracts, no minimums, no hassles and instant access. Judy Bennett, Credit Manager, Brown-Strauss Steel likes the ease of use, “I have pulled several anscersX Reports so far and have been pretty happy with the results. We will continue to order anscersX Reports.”

“CMA Members tell us that maintaining multiple contracts with providers can be time consuming and expensive. We needed to make access to information easier and less expensive by offering a one-click combined report,” shares Michael Mitchell. “anscersX Combined Business Credit Report attempts to solve that issue.”

Terrence A. McCraw, CCE, Greenheart Farms, Inc. reports, “Glad I found the new anscersX Credit Report!  It’s a quick way to pull together independent credit data from multiple data sources. All in a single search. It’s priced right too!”

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About Credit Management AssociationTM : Credit Management Association (CMA) is a non-profit association that has served business to-business companies since 1883. CMA helps credit, collection, and financial decision-makers get the information and support they need to make fast, accurate credit decisions. In addition, CMA assists insolvent companies with workouts or liquidation through cost effective alternatives to bankruptcy.
Contact: Michael Mitchell – mmitchell@emailcma.org – 818-972-5340 CreditManagementAssociation.org
anscers.com

About Trade Information ExchangeTM:Trade Information Exchange (TIE) provides trade credit report products and services for the manufacturing, distributing, and construction industries. With TIE, the promise is faster, less expensive, more accurate, industry-specific credit information on companies. We have years of industry-specific experience and a small-company attitude toward customer service. 
Contact: Robert Shultz  – bob@tradeinformationexchange.com – 805-520-7880
www.tradeinformationexchange.com

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Preventative Maintenance For Credit Groups – Larry Convoy

Warning Lights

Credit groups like automobiles have warning signals when something is not operating as it should be.  Having just seen my own car’s dashboard light up like a Christmas tree due to a worn power steering belt, I think being aware of the signs and a little preventative maintenance might keep your credit group running for many more years.

Reports are FLAT – Are group members just entering the same accounts monthly on your Past Due /Meeting Review reports.  Is the company that filed for bankruptcy in January or the business that closed its doors in March still being reported?  Remind them that they should be adding new accounts and deleting expired ones each month. One solution is to contribute their full accounts receivable to CMA, set the reporting parameters (for Past Due) and let CMA do the rest.

Attendance STALLING – With www.anscers.com providing instant information, many feel attending the meeting is not necessary. Members must be reminded that meetings support the online data. Meetings give you access to professionals who know who to call in AP to collect, members can explain how to file a lien or small claims action and can share other best practices that can save your company $$$. Our speaker program is a great resource to educate. Make each meeting a learning experience.

Membership needs TUNE-UP – Groups used to grow by adding companies selling common products (steel groups add steel manufacturers). With businesses consolidating, moving offshore or just closing up, consider adding companies selling the common customer. Our Door and Window Network has recently added companies selling hardware, different product but common customer. Look at your customer, what other types of vendors are selling them.

Let’s use the last 4 months of 2011 to refresh tired reports, call absentee members and think outside the box for group expansion. Spread the idea that one trade line reported, one comment at a meeting or alert from a new member could make a significant impact on your company’s bottom line and your job.

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CMA Poll Results – How Many Years In Business Credit?

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With 424 responses this months CMA Poll has the highest response rate and comment rate of any poll we have published. 53% of the respondents have been in business credit over 20 years.

How many years have you been in business credit?

  • Almost 2 years 2% 10 votes
  • 2 plus to 5 years 6% 25 votes
  • 5 plus to 12 years 15% 64 votes
  • 12 plus to 20 years 23% 98 votes
  • 20 plus to 30 years 33% 140 votes
  • 30 plus years 20% 83 votes
  • Other 1% 4 votes

Poll Comments

  • Thomas – 4 weeks ago

     lmao, Not too many old Credit Managers.

  • F. Scott Wilson – 4 weeks agoThis is interesting. Nearly two-thirds of the respondents so far have more than twenty years’ experience in credit, and a scant 5% have five or fewer years under their belts. It sounds like our profession could use some active recruitment of beginners, who will eventually get the experience to follow in our footsteps. Twenty years of experience, assuming you didn’t get into credit right after high school, is right around the mid-point of a career, just about halfway to retirement, and it looks like there isn’t a lot of bench behind us….

  • Deb – 4 weeks ago

    Thomas, Thomas, Thomas…that’s because only the good die young! I agree with F. Scott Wilson though. It’s an unusual bred who can be successful long term here at least with construction credit as the burnout rate with the last couple of years is pretty high! I’m always encouraging my folks to attend the seminars and/or webinars (or any other ‘inars ) 🙂 as well as take some business law classes if they don’t have that as part of their education. You can not be too well informed and today’s successful credit manager has to be a coach for their customer base as well. The better informed and educated we can make our customers, the smoother our job becomes.

  • Will – 4 weeks ago

    Very interesting indeed .. wondering what the results will be for years of service with the current employer.

  • Lee Clutter, CBA – 2 weeks ago

    I have been in the Credit Biz for 34 years. Very few of us dreamed of becoming a Credit Professional when we started working. Our unique characteristics (both +and -), our business ethics and our ability to work with all sorts of people resulted in a “win-win” for Sales and “on time cash” for the Company (collection efforts/DSO/Percentage Current).

    Will, I have been at SMART for 7 years.

  • Jackie – 2 weeks ago

    Never thought I would be in credit and here I am 8 years later. I am still happy with this field and starting my further education so I can continue in this field

  • Paul – 2 weeks ago

    I think the poll didn’t reach enough people doing actual collections, AR and credit analysis. My guess is that mostly managers received the poll, which skews the results. I have 30+ years experience and 13 with my current company.

  • jules – 2 weeks ago

    I have been in credit for 30 years and I love it. I have been with the same employer as well. Times have changed, technology has gotten better every year, and it makes our jobs so much easier these days. It sure beats the old days, we used to add up a green bar report to get a total past due list then type it on a typewriter.
    Never a dull moment, and I have the best staff anyone could ask for. I am a lucky dog.

  • Dina Amadril – 2 weeks ago

    Hi Paul – We sent this poll to all users on anscers.com which generally includes more than the manager at the company.

    Not all CMA members have multiple users on anscers so we are going to have a skew in the results anyway – but the way we see them coming in there are not too many new (under 5 years) to credit.

  • Ralph – 2 weeks ago

    I find that there aren’t as many opportunities in Credit & Collections as in the past. Technology most likely plays a roll as it allows each of us to do more than in the past. My own experience is that our profession is not as valued or respected as it was in the past. Protecting assets and reducing losses isn’t as important as posting revenue at any cost and rationalizing the losses. This is the same mindset that caused the housing debacle and has led to the current state of the economy… And it doesn’t appear that any lessons have been learned!

  • Roy K. Carpenter – 2 weeks ago

    Looks like it’s time to start hiring again.

  • Steve S – 2 weeks ago

    I’m not jumping to the conclusion that not many new people are in credit based on this survey. It may suggest not many new managers as these emails typically go to a select/narrow view which are primarily managers and manager in most fields typically require experience.

  • Brenda H. – 2 weeks ago

    I agree with Ralph, I have a GM who won’t write off debt that is even 5 years old. I guess he wants the company to keep paying taxes on revenue that we will never collect. I have been in collections for 19 years and I have never worked for a company who won’t write off debt that you have exausted all sorces to locate people and companies that have gone out of business and / or you can not locate. It is fustrating and rediculas, but I can’t get him to change his mind…

     

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CMA Poll Results – Business Credit Reports

CMA Member Poll: Your thoughts on business credit reports? (463 responses)

  • They are a valuable resource 18%
  • They are necessary but not always valuable 17%
  • They are not a valuable resource 1%
  • We carry a contract for reports 17%
  • We order reports as we need them 19%
  • We use more than one brand (D&B, Experian, Equifax etc.) of report 17%
  • We use only one brand of report 9%
Other comments:
“more valuable for private companies”
“Wish more companies would report more accts.”
“We find that D&B reports are totally outdated and wrong information. We belong to a local credit group which is very helpful.”
“We rely on our on trade data reports”
“We don’t use them hardly at all but probably should”

 

 

 

 

 

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