No two customers are the same. That is why it sounds logical that you would deal with different types of customers in different ways. Or do you apply the same procedures and agreements to both your strong and weaker customers? Based on the Multi-Score you can now (automatically) easily differentiate between customers in your portfolio. That way you can implement separate processes.
As the name indicates, the Multi-Score is calculated based on different elements. This score bundles all information available to Graydon into one score to assess the financial health, payment morale, and survival rate of a company in the medium term. The Multi-Score is between 0 and 100. The higher the score, the better the potential and the smaller the risk of defaulted payments or bankruptcy.
The Multi-Score is built on three pillars which are each comprised of dozens of variables.
Sometimes a fourth pillar is also included in the score. That pillar is internal data, which turns the Multi-Score into an instrument that is tailored to your company. For more on this, please see our analytics page.
The Multi-Score often forms part of an automated process of customer acceptance and is used, for example, for screening entire customer portfolios. Based on that screening you immediately obtain an insight into the strength (or weakness) of your customer portfolio. It also gives you the opportunity to divide your business relations into different risk categories. Subsequently, you then establish procedures for each category.
In addition, the Multi-Score is a useful tool for segmenting prospects. Isn’t it simply good sense to first approach companies that are performing at their peaks (and thus score high)? That type of company pays on time and, normally, requires less effort to deal with. Be sure to also use the Multi-Score when you want to approach a specific segment of businesses.
In that respect, the Multi-Score offers great added value for finance, sales, and marketing.