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A Few Questions About Company Reports

Article by Dennis Scott

There is hardly any business which is absolutely protected against agreements with unreliable business partners. However, a comprehensive credit check company report may help reduce financial risks. Here are a few facts one needs to know about credit check reports.

Why business people need credit check reports

It’s not obligatory for business people to order credit check reports yet these reports can provide them with valuable information on prospective business partners. It makes credit check reports a good tool for protecting one’s business since accurate information is the key factor in the present-day business world. Reports on limited companies consist of fifteen sections and provide information on company’s details and financial aspects including such positions as cash flows, account notes, ratios, growth rates, profit and loss accounts, to name but a few. Therefore, the comprehensive company report provides a full picture of company performance. Reports on non-limited companies provide information on contact details, risk information, information on County Court judgements and businesses with the same name or address. Besides, credit check reports on companies from the Republic of Eire include mortgage details.

What types of reports can be ordered online

Most credit check companies offer two types of reports: company reports and director reports. While company reports provide financial information on companies, director reports provide information on their administration. At the moment there are 9.3 million live directorships which cover 2.5 million companies. Director reports include personal details, information on live directorships of trading and non-trading companies, directorships of dissolved companies, directorships with insolvency proceedings and resigned directorships. To obtain overall information about prospective business partners, the company report can be ordered together with the director report. Besides, company document images can provide additional details on accounts, annual returns, capital and shareholders, incorporation, mortgage, liquidation and change of name. Backscanning made it possible to scan even pre-1996 reports; now there are around 440 million images available on the Internet. All of them comply with the BSI standards for electronic image legal admissibility.

How soon reports can be obtained

At the present moment there are 9.4 million reports available online. The turnaround time of credit check companies is less than 3 days since the account receipt so business people don’t need to wait long for the necessary company report. When it comes to document images, they can be available within 12 hours.

How payment can be effected

Customers can choose from two payment options: pay as you go or Tier packages. The latter allows saving up to 80% when ordering more reports. There are four Tier levels; each allows purchasing reports within the particular price limit. However, there is no time limit within which Tier levels are valid. Account balance can be topped up at any time; the current Tier level can also be upgraded if it’s required.

All reports are compiled according to rigorous procedures of data analysis. The data for the company report is taken from reliable sources such as Companies House, Registries Trust, the Irish CRO and others which leaves no doubts about its accuracy. Purchased reports and document images can be accessed online at any time or downloaded for offline work.

For further information regarding the range of business credit check services we offer, please visit our website at http://www.checkthatcompany.co.uk.










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