The Globalized Credit Bureau System

In order to deal with the global marketplace, it is necessary to have a global credit bureau system. There are several international credit rating agencies that provide information. If a company has a history of paying their bills on time, then the likelihood of an overseas company doing business with them will increase. The credit score rating system is not the same for businesses and it differs from the United States credit reporting system.

Global Credit Services Inc.

Global Credit Services Inc is a global risk management company. They report to companies and lenders the probability of that company’s ability to pay back their debt on time, within the agreed upon terms. They can provide information from different companies around the world. The information is compiled from different resources including, lenders and financial partners.

Trans Union Inc

Trans Union is another company that provides global credit services. The do not have access to every country but are in North America, Asia, parts of Africa and South America. If the company that you are looking for information on lies in their current operating parameters they will be able to provide you with a credit rating based on how the companies repay their debts.

The Difference between Agencies

Different credit bureau systems rate business differently and if you are using a score to rate the company, you will need to refer to what is good or bad for their particular scoring system. If you use more than one system you will also need to have a system in place to help decide what a combined score means such as a good score from two global companies and a bad score from one. You will need to take the credibility of the agency into account right along with the score that they provide.

Reporting for Different Countries

Even if you choose not to go with a global credit reporting agency, there is always another route. You can find a local credit reporting agency for that country. They all have very different credit rating systems.

There is a system for obtaining a global credit rating for any company. Whether you choose to use a global or local agency is up to you. When it comes to financial decisions, you can never have too much information on a business, or their payment practices. Using a globalized credit bureau system should be just the beginning of your hunt for much needed information.