The tool, Commercial Delphi for Prospecting, is a commercial credit risk screening tool that uses Experian's credit information to allow marketers to screen their B2B marketing databases and lists to remove any prospects that don't meet sound credit risk criteria and could potentially lead to bad debt.
Experian claims that Commercial Delphi is the most predictive commercial risk scoring product now available to the UK market, on the basis that it is checked against the entire National Business Database business universe of more than 4.2m records.
Richard Lloyd, managing director of Experian's Business Information, division said that the new tool could potentially stop some of the 16,000 limited companies that went bust last year from going out of business by helping them tailor lists to target more creditworthy prospects that meet their selection criteria.
Already this year, between April and June 2005, insolvencies increased by 11% compared with the same period in 2004, but many firms do not consider credit data in their direct marketing, Lloyd said.
"Despite this, in a recent survey, more than 84% of marketers said that they do not consider credit data in their DM decisions. Commercial Delphi for Prospecting provides marketers with an easy way to bring in the benefits of credit risk screening to both their marketing activity and to the benefit of the business overall," Lloyd said.
A more advanced version of Commercial Delphi for Prospecting is also available for more credit-aware companies, with credit risk aligned to the individual company's own business acceptance credit rating and risk band criteria.
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