Hurricane Season starts today, June 1, and many businesses in coastal areas wonder what this year has in store. Businesses that are unprepared for hurricanes almost never recover so it is vital to secure your assets before a storm hits. If you have never experienced a hurricane, the key to mitigating risk is developing a plan ahead of time, monitoring information and alerts as well as advanced preparation.
Mitigating risk is important for any business no matter the location, season or disaster. Assessing the financial landscape of your partners helps you avoid payment defaults, reduce bad debt exposure and maintains healthy cash flow. There is a real temptation to take on business of marginal credit quality to keep sales flowing. This tendency may be good temporarily but it is disastrous for business in the longer run.
Leveraging business credit reports is highly effective in monitoring a company’s full credit file so that you can maintain control over your credit policies and decisions. The data and intelligence available today provides businesses with greater proficiency, speed and confidence in developing strong relationships. It is impossible to avoid every “storm” but you can be prepared with the right information.
Altus provides our customers with comprehensive data to power profitable business relationships. With access to the most popular commercial data and analytics from the industry’s leading credit agencies you gain better insights resulting in healthy credit decisions that increase your opportunity, protect your company’s reputation and mitigate risk.
To learn more about business credit reports or to request a free sample report contact Nathan Smith, Director of Information Services, nathansmith@trustaltus.com
