IT IS WHAT YOU KNOW THAT COUNTS WHEN TRADING OVERSEAS
Equifax urges businesses using social media to secure export sales to undertake thorough credit checks
London, 13th October 2011 - Leading business information expert, Equifax, is reminding organisations that are exploiting the world of social media for international sales, to undertake thorough credit checks on any potential business partners. Social media is a great platform for contacting and researching new customers - especially overseas. But Equifax believes there is an unseen risk in using only this medium.
"Building up contacts through recommendation from sites like LinkedIn and Facebook is great for sales" said Mark Nuttall, Director, Equifax Commercial and SME. "But the risk is that businesses will become complacent, placing too much trust in social media recommendations. As a result they may not do the checks that are normally ‘a given’ when securing new clients and sales. And we think this risk becomes even greater when trading overseas, and historically it has been much harder to check out a company that does business in another part of the world."
Equifax’s instant Online International Business Reports now make it easy to check the credit status of overseas business. Available for 14 of the UK’s main trading partners - France, Germany, Netherlands, Spain, Switzerland, Belgium, Denmark, Poland, Malta, Greece, Czech Republic, Slovakia, Iceland and Lithuania - the Equifax Online International Business Reports help UK businesses trade safely and successfully.
The new fast online access complements Equifax’s offline International Business Reports, which are freshly investigated for each company being searched and provide intelligence from over 200 overseas countries and territories.
"To be able to successfully trade internationally, companies need effective and trusted business intelligence. This type of research is something which social media just cannot provide", continued Mark Nuttall.
"We understand the importance of providing a company with all the vital information needed before they complete a business deal, and we know that the quicker they can access that information the more likely they are to secure a new contract or get the best price on supply. But that has to be done at the lowest risk possible, and our new online, high quality, reports will allow importers and exporters to make quicker decisions, cost-effectively."
"The depth and flexibility of our data makes assessing the risk of trading with companies abroad just like trading with local businesses."
For further press information please contact: Wendy Harrison, Jenny Thorneywork or Clare Watson at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email firstname.lastname@example.org
Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.
Businesses - large and small - rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more. We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.
Headquartered in Atlanta, Equifax Inc. operates in the U.S. and 15 other countries throughout North America, Latin America, Europe and Asia. Equifax’s common stock is traded on the New York Stock Exchange under the symbol EFX.www.equifax.com