DETRIMENTAL BUSINESS DATA AVAILABLE WITHIN HOURS
Equifax Delivering Detrimental Data in Double Quick Time
London, June 2004 – Equifax, the leading provider of business information, can now provide its commercial clients with Gazette* data within hours of its publication. Available through the Equifax Portfolio Monitoring Services and the Equifax commercial credit report, this data provides businesses with vital information about their customers and supplies, including the appointment of liquidators, receivers and administrators, enabling them to react quickly to avoid potential bad debt.
Wayne Davies, Equifax's Head of Commercial Products comments, ”The availability of up-to-date detrimental business information is crucial to the success of businesses today. Having immediate access to Gazette information means our clients can see if a company is about to be wound up, made insolvent or if a liquidator has been appointed. Using this vital information they can take steps to retrieve money due to them, reducing losses incurred through bad debt.”
Wayne Davies continues: “The speed with which Gazette data is now available to our clients will further enhance the reliability of our data, which independent research has already shown to be highly predictive of business failures. For the first quarter of 2004, Equifax gave a zero credit rating recommendation on more that 8 out of every 10 companies that either failed or had a petition to wind them up three months prior to the detrimental event happening.”
The highly successful Equifax Portfolio Monitoring Service provides a cost effective and easy-to-use method for businesses to protect themselves from the risk of bad debt. The automated system makes it easy for businesses to monitor only those areas of the financial information that are important to them. In addition, by providing a snapshot of the information required, it removes the need to spend time analysing detailed commercial reports. The speedy availability of Gazette data gives business clients further protection from bad credit.
END
*The London, Edinburgh, and Belfast Gazettes are the official newspapers of record in the United Kingdom. Several legal notices, including insolvency notices, are required by law to be published in the London, Belfast or Edinburgh Gazette. For further information please visit www.gazettes-online.co.uk.
