Most clients want to know how effectively their suppliers handle their own financial obligations. BCS has developed a proprietary algorithm that leverages information from the national network of credit bureaus, Dun & Bradstreet, and others which gives our clients an up-to-date, objective analysis of the overall financial health of their suppliers.
The financial information obtained for each supplier is posted to an online document repository, accessed only by authorized client users. Some of the information that is available includes:
Company Background and General Information
- Years in business
- Total number of employees
- Years since a change in management
Financial and banking information
- Existence and age of balance sheets
- Quick and Current ratios
- Net worth indicator
- Total assets and liabilities
- Net profit after taxes
- Trends from previous statements
- Variance of PAYDEX scores and their difference from the industry norm
- Number and dollar amount of total payment experiences and percentages of satisfactory or past due payment experiences
- Number and dollar amount of suits, liens, judgments, and bankruptcies
- Number of UCC Filings
- Business deterioration
Full document tracking and management services for company and employee HSE and Quality certificates
Expiration tracking and electronic expiration notifications to suppliers and clients
Why It Matters
The financial health of even one of your company’s suppliers can, unfortunately, make or break your business. It’s wise to assess the risk of current and potential suppliers to help ensure that your company receives its deliveries and services on time, successfully collects payments when they are due, and is not in trouble should a supplier go out of business unexpectedly.
By doing your due diligence, you will decrease your risk.
Contact BCS for a free demo of the financial screening process of your company’s suppliers.