With more than 36,200 businesses expected to go bust by the end of 2009**, it really is about the survival of the fittest
Leicester, UK (PRWeb UK) September 15, 2009
Draycir, the credit control software specialist, has launched Credit Guardian® - business credit checking software that merges real-life accounts data with credit risk information from Experian, the global information services company.
Designed specifically for SMEs, Credit Guardian works by directly linking into a business's own accounting system such as Sage. Merging this accounts data with credit data downloaded in real-time, Credit Guardian enables users to get a live insight into their business and trading status - displayed within their existing accounting system.
This unique business intelligence enables businesses to:
- Quickly view top customers by sales, and the creditworthiness of customers and suppliers
- See how quickly they are getting paid compared to other suppliers, and whether customers and suppliers' payment patterns are improving or deteriorating
- Get an up-to-date picture of how they are trading with breakdowns of amount owed/debt levels broken by credit risk ratings and credit limits
- Track and monitor their own business, suppliers and customers to ensure they're automatically informed if anything changes such as an improved credit rating or worsening payment pattern.
An erratic or worsening payment trend is one of the key indicators of a deteriorating cash flow and even impending insolvency. In the UK over 26% of business invoices are overdue*.
"With more than 36,200 businesses expected to go bust by the end of 2009**, it really is about the survival of the fittest," said Robert Ball, director of Draycir. "Credit Guardian works by unlocking the most valuable asset to any SME - information - identifying new sales opportunities and providing an invaluable pre-warning of any potential cash flow or late payment problems that may put them at risk."
As well as linking in with accounting systems, Credit Guardian software can also be used on its own for credit checking and monitoring purposes.
Credit Guardian is available as an annual subscription from £299. For more information and for a free trial contact http://www.draycir.com/creditguardian
Kirk Fletcher, managing director of Experian's Business Information and Automotive division, said: "Draycir is an award winning software development company and we are delighted to have been chosen as the company to power its latest innovation, Credit Guardian, with our data.
"This initiative is testament to Experian's data, some of the most comprehensive business credit and payment data in the UK, and Draycir's award winning software. It will give the SME community even greater access to the vital data they need to help them survive in the current economic environment."
Created by Draycir and powered by Experian, Credit Guardian® gives small and medium-sized businesses affordable, year round access to business intelligence, helping them to make better and more informed business decisions.
Credit Guardian currently works in conjunction with Sage 50, Sage 200 and Sage MMS with more accounting systems to be added in the coming months.
NOTES TO EDITORS
*According to Experian, 26% of business invoices were overdue for payment at the end of January 2009. Large businesses take, on average, 47 days beyond agreed terms to settle their bills - double the average for UK businesses as a whole.
** The Industry Watch report by accountants and business advisers BDO Stoy Hayward 2009.
ABOUT EXPERIAN (http://www.experianplc.com)
Experian is the leading global information services company, providing data and analytical tools to clients in more than 65 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to manage their credit relationships and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2009 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil.
ABOUT DRAYCIR (http://www.draycir.com)
Draycir is a software development company. We create software that provides practical solutions to real business problems - helping businesses to reduce their environmental impact, cut costs and bad debt, and improve cash flow.
Our multi award-winning software is used by small and medium-sized firms, all well as public sector organisations to enable them to trade more intelligently and reduce the risk of bad debt. Based in Leicester, UK, there are currently more than 1,700 businesses using our software in the UK and we have won many accolades for both innovation and business excellence.
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