Business information is much more than just collecting figures from companies. It is not just about collecting that data, but above all about translating all that data into valuable insights. We sometimes refer to this as business intelligence, because a business report is not just informative. With the help of business intelligence, an organisation can then make well-founded, strategic decisions, better assess risks and exploit growth opportunities.
Where traditional data analysis often stops at presenting facts, business intelligence goes a step further. Algorithms and advanced analyses are used to convert data into conclusions and predictions. This creates a nuanced and objective picture of a company's (financial) stability and future. This makes it possible to act proactively rather than reactively.
What can you find in a business report?
A business report combines different types of information from numerous sources into a single, clear overview. In addition to financial analysis – if annual accounts are available – the report contains a wealth of additional data, such as:
- The company's payment behaviour
- The company directors and their relationships with other companies
- Resilience, fraud risk, and sustainability
- Creditworthiness and long-term prospects
- Various warning signs
The first page of a report always contains a summary of the most important conclusions, while the detailed information can be found further on. This makes a company report not only practical, but also strategically valuable for a variety of functions within an organisation.
The report therefore helps you to look not only at the figures, but also at broader factors that determine the stability, reliability and growth opportunities of a company.
In addition to business intelligence, we therefore refer to a company report or company information report or also business report rather than a credit report. A credit report is limited to the creditworthiness or solvency of an organisation. A company report is much more comprehensive and looks beyond creditworthiness alone.
Who can benefit from company information?
Company information is traditionally used by financial profiles, such as CFOs, finance managers, credit managers, credit controllers, risk managers, etc. However, its application and purpose is much broader and relevant to various functions:
- Marketers use company information to accurately define target groups. In an ideal situation, they also consider the financial stability and growth potential of an organisation.
- Salespeople can also assess more quickly whether a potential customer is creditworthy and thus focus their efforts on healthy companies. In addition, insight into business leaders' networks offers the opportunity to expand sales opportunities.
- Business strategists gain a clear picture of the stability and future potential of their customer and supplier portfolios.
- Compliance and reputation managers avoid reputational damage and potential fines by checking whether a company is involved in illegal activities, such as drug trafficking, undeclared work, terrorism, etc.
- Operational managers can better prepare for disruptions in the chain by detecting supplier risks at an early stage.
Even for small businesses, such as a baker who depends on raw material suppliers, business information can be crucial. After all, the failure of a supplier due to bankruptcy has a direct impact on the continuity of their own activities.