How to Analyze Your Company Credit Report in India?



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A strong company credit report in India lets you enjoy financial stability in the longer run. Not only does a good business credit score boost your financial strength, but it also helps you keep a track of your financial transactions to avoid discrepancies and errors.


A company credit report is a document containing information about your company’s structure, owner’s details, and financial performance. Similarly, a credit score of a company tells a lot about your financial stability. It reflects your creditworthiness and how you’ve been managing money.


Investors, lenders, customers, and supplies can check your company credit report to make a decision about doing business with you or lend you money. Many credit bureaus like CreditQ, Equifax, and Experian provide credit score and company credit reports in India.


These bureaus create business credit reports using different methods. Like, CreditQ uses a unique credit information reporting diagram to prepare business credit information reports. You can check your credit score for the company and report any issues on the platform to generate an accurate credit report.


How to analyze your business credit report?


Verify your company’s information


While checking your credit information report, you should ensure that your SIC and NAICS numbers are correct and updated. In case the report shows the wrong numbers or the information is outdated, you can report it to the credit reporting agency so that it doesn’t impact your score.


There could be a possibility that your NAICS and SIC numbers misclassify your business information. In that case, you can generate a request to correct it within time.


Check your company credit score thoroughly


It’s important to check your credit score for the company regularly. This way, you ensure that there are no errors to correct or any discrepancies that can be handled timely. Besides, it will help you analyze your shortcomings and your financial strength so that you can leverage them for your benefit.


Check your public records and payment history


Many investors and lenders may check your credit information report for business purposes. Make sure that your account information, UCC filings, tax liens, and other information are correct and updated. By doing so, you can stop check lenders to provide a negative review about your company. You should also compare your payment and public records to ensure that they are correct.


Report fraud immediately


To make sure that your credit score for a company in India is impactful, you need to analyze various aspects, including listing out the business defaulters so that appropriate action can be taken against them and you can gain the advantage of payment settlement. If you’ve started a new business, you’re likely to fall into the trap of fraudulent activities. You may be expecting a payment from a vendor, but you’re struggling to obtain the desired outcome.

In this case, you can report your business defaulters on CreditQ to get help in payment settlement. You can monitor fraud and stay away from suspicious activities on your credit information report.


Improve on weak areas


When checking your company’s credit report in India, you must ensure to look upon your strong and weak areas. Maybe you’re delaying making payments to your vendors or not paying bills on time. It may reflect your financial habits, and lenders may lose interest in working with you.


Check your credit score for the company and analyze if you’ve reached the bar where you’re no longer obliged to boost your borrowing power. Or, if you see any areas where you’ve succeeded in making your company sound stable, you can leverage that factor to gain financial strength.


You can use the CreditQ platform to generate your credit information report, including your company credit score. You can further report any business defaulters to prevent yourself from fraud.

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