|
||
A look at the Paydex index
The Paydex index is called the "Dunn and Bradstreet Paydex" score. It is a number of how your company pays its bills over the course of the last year and is reported to the Dunn and Bradstreet by various vendors. The Dunn and Bradstreet Paydex score is rated on a scale of 1 to 100, the higher the number, the better payment performance your company has.
Knowing how to increase your Paydex score or knowing how to establish one take a few steps. -
Gaining credit for your company will also help your Paydex score. Watch out with how many lines of credit you have open as they can lower your Paydex score. It is best to consult a company who does the research on the best lines of credit for your business prior to just signing an agreement. If your company cannot pay back the required payment by the due date, do not make a purchase. This will be considered financial abuse and will lower your Paydex score. Start tracking your score by contacting Dunn and Bradstreet they will send you a copy of their report. The Dunn and Bradstreet report is useful for all businesses and helps your company to take a look at existing accounts and where the largest amount of money is being spent. The Dunn and Bradstreet Comprehensive Report contains key information about a company, to help your organization: -
Just like your personal credit score your Paydex score is very important to your business's growth and future. Careful financial decisions will greatly impact the score and allow you to gain loans for your company. If you are new to the Dunn and Bradstreet paydex score, you may want to visit their website. Dunn and Bradstreet has a lot of information for businesses who are new to the Paydex score. Hiring someone else to do the paperwork is helpful, unless you know how the system works. You may have a Paydex number, but you will still need to figure out how to convert the number into working capital or a business loan. Business credit is still quite different from personal credit and without proper knowledge, you won't get too far. Access to capital can be a significant competitive advantage for your business and a qualified consultant with connections to small business lending companies and alternative funding companies should make you more effective with less time, effort and frustration on your part.
,
|
||
Copyright 2003-2020 by BusinessKnowledgeSource.com - All Rights Reserved
Privacy Policy, Terms of Use |