Predictive Credit Score an Insightful Tool for Informed Decision Making
Cortera, Inc. announced the availability of its new Cortera Score, an easy-to-use predictive risk measurement that extends the Cortera Pulse® service. The Cortera Score predicts a company’s future health and credit risk by drawing insights from trends in the company’s purchase behavior, payment history and business events. The Cortera Score is designed for use by credit managers, commercial lenders and others interested in assessing the current and future risk of a business. In addition to credit decisions, the Cortera Score also enables fast and efficient risk monitoring of customers, suppliers and other businesses of interest.
In addition to the simple-to-interpret, three-digit score, Cortera Score provides sophisticated reason codes and modeling attributes for the customers that want more in-depth understanding beyond the snapshot score. According to Jim Swift, president and CEO of Cortera, “We have been providing the Cortera Score to Beta customers for several months. We asked these customers to look at their internal performance data and validate that the Cortera Score aligns with the credit-worthiness of their own customers over the last six- and twelve-month timeframes. Our Beta customers have confirmed that the Cortera Score provides predictive insights into the health of their customers’ businesses.”
Cortera Pulse customers can now access the Cortera Score from within the Cortera Pulse® application. For existing customers, the Cortera Score feature is a free enhancement to Cortera’s business reports. Cortera Pulse is economically priced at $99/month. The annual subscription includes daily monitoring and business risk analytics for an unlimited number of accounts within the customer’s A/R portfolio. Finance professionals can take a 10-day free trial of Cortera Pulse to see how it can improve their credit and risk monitoring processes.
Source: Cortera Press Release