The payment score
The Payment Score is a score between 0 and 100 and tells you whether your business relation is likely to pay. The higher the score, the better. To calculate this score, Graydon applies a weighted calculation to the experiences supplied to us by all suppliers. The most recent observations carry the most weight in this calculation.
It is nice to know that a company can present a good-looking annual account and scores well in creditworthiness. But that doesn’t mean that the customer will actually pay your invoices on time. Some companies are sloppy in that respect or make a habit of paying late.
Although you could look at it from the other side. Companies with a financially weaker picture can be very reliable about payment. So the payment behaviour and the payment score are a good additional to the credit limit. Apart from the fact whether the customer could pay, the payment score indicates whether that customer will.
Knowledge about the payment behaviour of your customer perfectly supplements the picture you form based on the annual account, that is at least seven months old. It offers direct insight into the payment evolution, the cash position, and the payment intent of your trade partner. This way, the payment behaviour exceeds the value of the traditional and more static figures. It tells you how you business relation pays today and it completes the up-to-date picture of your business relation.
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Decide quickly and efficiently based on easily interpretable scores
A wealth of information can be obtained from data. It comes down to collecting, combining and analysing the relevant data and then converting it into valuable insights. Preferably in the form of an easy to interpret score, which makes it possible to make quick and efficient decisions.
Graydon has an enormous database with company information and (predictive) scores. All data can be accessed via APIs in your own systems. Once linked, all departments within your company have immediate access to the most recent data. In short, with Graydon's APIs you can quickly and easily integrate business data and scores into the systems and applications you are familiar with.