It is great to know that a company can present wonderful annual financial statements and has a high credit rating. However, that does not mean the customer will pay your invoices by the due date. Some companies are simply not well organised, or are systematic late payers.
In other companies, it is the other way around. Companies with a weaker financial position can be good payers. This is why the payment behaviour and payment score are great supplements to the credit advice. Apart from the fact whether or not your customer is able to pay you, the payment score will tell you if the customer actually will.
Knowledge on your customer’s payment behaviour perfectly complements the impression you have concluded from the annual financial statements. This immediately provides an insight into the payment evolution, the cash position and the payment intentions of your trading partner. This way, the payment behaviour exceeds the value of the traditional, more statistical material. This will make the up-to-date impression of your business relation fully complete.
Graydon Belgium has been running the Data Exchange Pooling Programme since 1984. This is an exchange project with thousands of suppliers sharing millions of payment experiences. Discretely and anonymously. The more experiences, the more accurate the impression of your business relation. This allows all participants to detect weak payers, while rewarding good payers. Joining in the Data Exchange Pooling exchange project does not cost you a penny. On the contrary, you are a peer, and in exchange for your submissions you are allocated a commercial compensation.
The exchange of payment behaviour is integrated in various accounting suites. Do you work with one of the suites below? Then please contact us to activate the exchange simply by pressing the button.