In general, deliveries on open accounts suffer from higher-than-average risk, but companies coming from sectors such as construction, food & beverage and retail show particularly high default and fluctuation rates. CRIF solves this problem with a simple concept: companies in these sectors exchange their individual payment experiences. Combining these exclusive data with identification and negative payment data, CRIF is able to provide a more accurate prediction of the customer's payment behavior for new as well as existing customers – thus supporting suppliers in their portfolio and customer management.
Through the collaboration of many companies in a specific industry and the transfer of payment due data to CRIF, everybody benefits from this so-called risk community. CRIF helps the supplier recognize changes in the payment behavior of its customers at an early stage and so react accordingly.
Finally, a better knowledge of companies can be achieved through the use of N.E.O.S. (CRIF New Evaluation Open Suite), providing an improved creditworthiness evaluation and enabling relationship development opportunities to be seized as part of a verification process.