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October 2010 Enabling credit - through financial transparency.

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Presentation on theme: "October 2010 Enabling credit - through financial transparency."— Presentation transcript:

1 October 2010 Enabling credit - through financial transparency

2 There is a gap between how businesses want to be assessed for credit, and reality Trusted Up-to-date Credit decisions based on current performance Businesses want.. To use internal information that demonstrates viability Reliant on information from previous years Credit providers are.. Insufficiently confident in unverified information Individual To be judged on their individual circumstances Reliant on general data, such as sector and age

3 Using CreditPal, businesses can demonstrate their credit-worthiness to preferred credit providers CreditPal connects to the business’ accounting software, and sends an encrypted copy of the data to a secure online account. CreditPal automatically generates management accounts, and checks for accounting errors or omissions. CreditPal gives businesses complete control over who their financial information is shared with, and over what is shared. Upload Review Submit

4 CreditPal automatically generates management accounts “I’m very impressed with CreditPal, particularly the fact that I can generate up-to-date management information at the push of a button.”

5 CreditPal checks for accounting errors or omissions “I thought my data was fully up to date...but the CreditPal ‘traffic lights’ showed me that I had forgotten to post my wages.”

6 Businesses are in complete control over who their information is shared with “The service is very intuitive and gives me great visibility of all my transactions.”

7 CreditPal can support access to credit in a number of different ways Finance providers Credit insurers Can prevent the withdrawal of credit insurance cover. How CreditPal helps Can support a new finance application, or protect financing. Credit ratings agencies Can protect access to trade credit by resolving poor credit ratings. Real example Can be used to show trusted suppliers that you are creditworthy. Your suppliers ?

8 Because it supports business access to finance, CreditPal is heavily endorsed “An important conduit through which businesses could supply.” “Small businesses... ensure they access essential credit and finance on the best terms.” “Complements Sage software - such as Sage 50 and Sage 200.” “Credit managers have always wanted validated management accounts.” “It will be easier to access finance, reduce costs and purchase goods. It's that simple.” “Catches errors and anomalies in any set of accounts…before it's too late.”

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