Get an instant credit report directly on your current or potential customers in the Chaser app. Read on to find out how to get a credit report in Chaser.
Last updated: October 02, 2024
Business credit check
A business credit check is your first defence line when avoiding bad debtors. A business credit check looks into the financial history of your potential/current client and highlights any potential red flags in their credit history and payment behaviour.
Credit checking
Every customer you take on represents a certain level of risk, and that risk is compounded if you plan to offer them a line of credit. Thankfully, modern businesses now have more comprehensive business credit checks to call on that give them insight into a potential customer's current and historical financial information.
Credit checking is an essential first step before taking a customer's business and extending a line of credit. Additionally, ongoing credit monitoring can be an essential part of continuous risk assessment, ensuring that your customers are still creditworthy and that you aren't due any surprises later on.
Get a credit report for current customers
- Get a credit report for a current customer in Chaser, navigate to Receivables and select the customer.
- Select Credit Report.
- Select Get the credit report.
- Where multiple results are available, you will be asked to select the appropriate customer.
Once a customer has purchased a report, the report and credit score will be visible on the customer page. Monitoring will be automatically enabled for the report.
NB: Credit Checks must be run from customer-specific pages via the Receivables tab to benefit from ongoing monitoring. Checks purchased via the Credit Check tab will not be subject to ongoing monitoring.
Get a credit report for a potential customer
- To get a credit report in Chaser, navigate to the Credit Check tab in the Chaser application.
- From here, search for the company that you would like to credit check by either the Company name, postcode or both.
- Once you have identified the company you want to credit check, click Get a credit report.
- You will then have immediate access to a full credit report from that company. This includes a Summary (detailing the customer's risk, the recommended credit limit and other important information), information on the Directors & Shareholders, the companies' Financials and an Event History.
- Credit reports purchased here will not be monitored
Credit report details
A credit report gives your customer a credit score and highlights any potential business risk in doing business with them. It also usually contains the following information:
- A credit score with a recommended credit limit (see our guide on how to set credit limits).
- General information regarding the business, the directors and shareholders.
- The business's payment score.
- The business's credit event history.
- The business's directors and fillings information.
Number of credit reports per plan
When you sign up for a Standard or Enterprise account, you get one free Credit Check.
Additional Credit Checks can be purchased through the Credit Check tab by clicking the below button. View credit report pricing details here.
Monitoring
If your customers credit report changes, Chaser will notify you of an event in Recent Events. You can also see the changes if you navigate to the Credit Checking page under the Monitoring tab. Chaser checks for changes daily.
You will only get updated on your purchased reports.
Keeping up to date with changes to your customer's financial health is essential to protect your business and cash flow. These advanced warnings mean you can make decisions and act quickly to protect your business.