"I would promote Graydon- they are by far the most communicative agency of their type"
Steve Heywood, Deputy Group Credit Manager, EH Smith Builders Merchants
EH Smith had been using a credit reporting agency for a number of years, as a result they were looking for a change that would benefit the business from a financial perspective as well as maintaining, if not improving, their credit intelligence strategy. The solution offered by Graydon ‘more than exceeded’ their expectations.
“The ratio marking by which Graydon set their credit limits closely matched our own business specific rating method. This means it is easier for us to pass down a process within in our business model for vetting new credit applications, and updating existing accounts. In turn this has meant that there was less management involvement which has freed up management time to look at our more serious cases.”
As well as providing up-to-date credit information Graydon provides a customer service aspect, enabling clients to contact the company with queries if needed. “Graydon is a huge assistance in our need for information, we like the fact that we are in a position to contact them and discuss particular reports if need be. This is vital when we are being asked to take decisions that may result in us lending many thousands out to a relatively unknown company.”
In addition to using credit reports, EH Smith's is also part of the Timber Intelligence Unit. “The Timber Intelligence Unit is particularly useful if we hear something within the industry and need to be quickly checked out, they have access to other suppliers that we simply do not. The trust in sharing of information that may prove critical is vital in a fast moving industry and the Intelligence Unit has identified that as one of its key areas of expertise.”
Graydon’s credit reports enable EH Smith's to make quick and accurate credit decisions allowing them to reduce the risk of late payments and bad debt. In addition, as part of the Timber Intelligence Unit, EH Smith’s is able to access additional information that is sector specific.