Enhance Your Business Decisions with Financial Business Information Reports
When investing in a company or partnering in one, how do you:
- Determine if the business is worth investing in?
- Determine a prospective client’s financial stability and long-term payment performance?
- Ensure that the senior management is transparent about its spending, profits, and growth?
You can obtain all this information and more by investing in a business information report from a reputable credit bureau.
What is a Business Information Report?
A Financial Business Information Report (BIR) is a detailed document that provides deep insights into all the factors that determine a company’s profitability, financial stability, liquidity, and payment performance, making it an essential business management report and business credit reports. It tracks the business’s overall health, analyses areas of improvement, and identifies growth opportunities.
BIRs contain a wealth of information presented in an easily readable format, usually on business report templates.
What is Business Reports and Importance of Business Report
Business Information Reports are an important tool to help you make informed business decisions when trying to check on prospective business partners, potential customers, and suppliers. If you're wondering what is business report, it is a document that provides crucial insights into the financial and operational status of a company. Access to these data helps prevent your business from reputational, operational, financial, and legal risks. Business report insights can help you establish your credit terms, evaluate distributors, agents, buyers, and suppliers to determine profitability, and analyse your potential customers.
Here’s what you can expect from a Business Information Report:
Business Summary
This includes factual information like the business’s registration details, core operations, key management, and shareholding structure.
Financial History
This comprises balance sheets, income, cash flow, and equity statements, thus presenting a comprehensive picture of the company’s financial standing in the market.
Risk Assessment
The BIR investigates a company’s credit history and provides information on the business’s credit limit, balances due, and payment history to assess the actual risk involved in the venture.
Compliance Checks and News
These examine the company’s legal aspects, adherence to regulatory requirements and standards, and significant events such as takeovers and bankruptcies, ensuring that all financial business information is up to date and accurate.
Due Diligence
A diligence report uses available data to assess the commercial and legal risks and opportunities ahead of an important event, such as a merger, acquisition, partnership, or investment.
Credit bureaus use business intelligence reporting software, or BI tools, to structure real-time, hyper-accurate reports that extract and read company data from the cloud and create analyses. BI tools are crucial in risk management due to their ability to:
- Track a company’s progress and growth over an extended period
- Identify trends or irregularities
- Identify problem areas that may need investigation, like sudden policy changes or high attrition
- Build an audit trail of business activities
- Provide financial data, credit information, and payment performance
- Provide actionable insights and aid decision making
Different Types of Business Reports and Their Uses
The only approach to reduce business risks, whether they pertain to current or potential consumers or suppliers, is to have clear, up-to-date insights into the associated risks through a Business Information Report. You can consider the following business analysis reports before signing a contract:
Full Report-
A full report provides a comprehensive picture of a company, including its identification, organisational structure, management, shareholders, operations, and affiliated parties.
Slim Report-
For some countries, the credit report is also accessible in slim format. A slim report is a short version of a credit report that preserves high data quality and updates combined with value-added information like credit rating and credit limit to assess risk. It contains only a subset of data with more significant information on the company’s situation.
Extended Check Report-
This report allows you to find companies worldwide and obtain information about them, as well as their directors, shareholders, and parent companies, as described in the Credit Report, and to see if the subject is on any criminal activity lists.
Other CRIF reports that can help businesses mitigate risk, maximise potential growth, develop future forecasts, and improve decision-making include:
Field Due Diligence Report:
Field due diligence measure the viability, assessments and analysis of potential investments to identify important factors that are used in a decision-making process. Create value by supporting businesses to perform on site due diligence and KYC on their customers/suppliers to ensure long-term relations and manage their business risk. A customer visit also helps credit professionals assess the client’s location. One can gauge a client’s financial status by observing the facility itself. Is it run down or well-maintained? Is it messy or well-organized? Our field due diligence reports are available in India, Taiwan and United Arab Emirates
Compliance Report:
Risks associated with money laundering, fraud, corruption, bribery, or other criminal activities are becoming increasingly prevalent in the global market. This report allows you to locate any business entity worldwide and learn whether the subject is on any list related to fraud, terrorism, money laundering, or other crimes.
Cyber Check Report:
Cyber Check Report provides you with an instant independent cyber risk profile to support your IT, security and GDPR team. Using just your domain name it investigates and analyses cyber risks faced by the businesses in real-time. In seconds it will deliver an intuitive report, written in simple business language, using the traffic light system, ‘red, amber, green’, to indicate risk severity. It instantly indentify vulnerabilities in domain discovery & risk analysis, service discovery & risk analysis, comparative risk profile, email security risks, phising risk, sites & certificates risk and malware risk.
Patent Due Diligence Report:
Patent Due Diligence uses the aforementioned objective data to review the true representation of the patent assets currently held by a company — including assets applied for by the company itself or obtained from other parties. It is used to cross-check and verify the intangible assets — especially the patent assets on a company's balance sheet. It covers the number of patent assets the company has, the countries covered by the company's patent assets, the validity period of the company's patent assets and uncovering high-value patent assets.
How Can CRIF Solutions Help with Information of Business Reports?
CRIF’s business information report ensures you have access to all the detailed information of business, including credit information, financial information, and commercial risk data on businesses worldwide, helping you make global business decisions.
The CRIF business information report provides in-depth company profiles, including financial statements, history of business, ownership details, operational information, and details on related firms and special events involving company management.
Built on a robust ecosystem, the CRIF business information report is a new way of thinking about how data and information are interconnected. The constant and dynamic selection of the best data available in a specific environment is the starting point, followed by the ability to transform data into information, pointing the global market in the right direction to achieve profitable results.
