So far, 2015 has been a busy year for product development and enhancement at BCR. Over the past few months, we have brought you the following enhancements to our product line:
Vendor Verification Report
Our new Vendor Verification Report has proven to be very popular. BCR is the only provider to offer a vendor report. This new report enables companies to screen existing and potential vendors to ensure the vendor is legitimate and carries a good standing with other companies they do business with. Included is one year of monitoring for any negative changes to their financial status. This valuable tool gives buyers peace of mind knowing that their vendors will be there when they need them.
Business Verification Report
Our new Business Verification Report gives you all the info you need to be confident the customer you are dealing with is in good standing with all proper business practices. The report includes full demographics, Secretary of State registration, Fraud Match alerts, Corporate Linkage, legal or collection filings, bankruptcies, liens or judgements, UCC filings and OFAC. Also included is one year of free monitoring for any negative changes to their financial status.
Business Failure Risk Score
Now available on most of our credit reports, the Business Failure Risk Score combines the Credit Logic Score and the Data Depth Score to provide a High Risk/Warning/Caution/Average/Low Risk indicator. This analytic score gives another at-a-glance indicator of how much time, money and effort should be invested during the risk evaluation of a company.
Fraud Flags have been added to all comprehensive reports as well as our new Vendor/Business Verification and D&B Viability Reports. Whenever an address, phone number gives the appearance of possibly not being a legitimate business; corporate registration isn’t right; trade payment history is thin or sketchy; or an OFAC flag is triggered, we’ll show a cautionary flag on the credit report so you know to investigate further.
Canadian Owner Reports
We expanded our Canadian credit report offering to include business owner reports from Equifax Canada. The business owner report compliments the Canadian business reports we've provided for years, giving you a more comprehensive view of risk associated with Canadian small businesses. The reports include the new Business Failure Risk Score and free account monitoring for 12 months.
D&B Viability Rating
We introduced D&B's Viability Rating as an add-on to our report lineup and as a standalone report. The Viability Rating is a new analytic tool that offers a comprehensive assessment of whether a company will still be in business in 12 months. The Viability Rating combines a Viability Score, a Portfolio Comparison, a Data Depth Indicator and a Company Profile rating to deliver a single indicator of a company's viability.
New Public Record and Collections Data
Experian public record and collections data has been added to the Equifax Plus, Equifax Pro, D&B Trade Plus, D&B Paydex Plus, D&B Paydex Plus Trucking and Trucking Plus reports. Experian is the leader in small business collections information, with over 250 commercial collections agencies reporting into their database. They are also a leader in public record data and provide strong coverage of small businesses.
Now you can visually verify customers and vendors. We've added a Google Maps view to all of our reports to show the business from satellite and street view so you can verify the business’ legitimacy visually.