Bringing on a new customer is always a reason to celebrate – this is an opportunity to increase your market share, upsell your services and improve your bottom line. But as many businesses can attest, it’s not always plain sailing and this is often due to the correct due diligence not been applied at account opening stage.
When bringing on a new customer or actively pursuing a prospect, particular attention should be paid to previous trading history, company or business status and director structures in order to have the confidence that you will get paid. Executing a thorough onboarding process will protect you from putting your business at risk further down the line when services or products have been deployed but not yet paid for. The importance of applying due diligence to make sure that you are working with a reputable organisation should not be underestimated.
A good place to start your onboarding process is to access a company report – this will tell you almost all that you need to know – the good, the bad and unfortunately – the ugly. Having this information at your fingertips means that you can make decisions based on accurate data and findings. Company or business reports from our Business Support Toolkit can be downloaded quickly and easily from our online portal. Using the portal is simple; Once you have found the company or business that you are interested in – either by name, registration number or director name, simply click to view, print or download the report to your desktop. We hold up to ten year’s financial reporting on over 3m UK companies.
What will an identeco company report tell me?
There are many suppliers out there that offer company and business reporting – or corporate reporting as it is sometimes known, but only a handful will provide all the data that you need to make accurate and evidence-based decisions.
An identeco company search will return all of the information that you need relating to a particular organisation, but we will then dig deeper on your behalf, presenting you with key information pertaining to profit and loss. This includes cost of sales, gross profit, turnover, operating profit, pre-tax profit, taxation, audit fees and auditor details, dividends and retained profit. We will also deliver balance sheet data which will drill down into total assets broken down across tangible, intangible and fixed. In addition, we will disclose figures relating to trade debtors, creditors due, long term liabilities, shareholder funds and working capital as well as a detailed summary of ratio analysis which includes sales per employee, total working debt, assets per employee and percentages of salaries. To view a sample company report, click here
And if that sounds too detailed for you, we also provide an at-a-glance financial health rating in all our company reports to enable you to make quick, informed decisions on whether to apply credit and what terms would be realistic. Basically, we’ll do the thinking for you.
All the information on our company reports is available to view immediately on over three million UK companies. We can also provide sole trader, partnership and individual reports. For more information on this type of reporting, click here