Access Approve - Online trade applications

A digital trade application is a form completed by an applicant online. It eliminates the need for paper, pdfs or emails and enables businesses to control the customer approval and onboarding process making it fast and efficient. Access Intell’s Approve platform can be set to automatically complete the application from government register data making the process quick and easy for both the applicant and the staff member assessing the application.

There are a number of reasons why a business might offer extended payment terms to customers. Most businesses do so to encourage customers to buy from them in preference to a competitor that may require payment in advance.

Access Intell’s Approve platform creates a digital footprint for each electronically signed application. Applications can be set to require preceding information (and a digital signature or directors guarantee upload) prior to submission. All applications are accessible at any time in the future to support court or payment recovery action.

Access Intell’s Approve platform and be configured to approve or reject applications automatically provided certain criteria is satisfied which is especially useful for high volume or low exposure processing.

Deciding whether to extend credit to customers is very much an individual business decision having regard to the industry, tenure, competitors, exposure risk amount and the benefit to the business.

Yes, users of all of Access Intell’s platforms can download Illion (Dun & Bradstreet), Equifax, Creditorwatch alongside reports from a number of other credit co-operatives and agencies within its platforms.

Setting customer credit limits depends on numerous factors including your industry, length of trading relationship, size of customer amongst other things. Experienced businesses tend to begin with cash only accounts and only extend or increase credit limits once they are comfortable with the customer’s performance. Access Monitor can help track all customers creditworthiness to give assurance that accounts will be settled when due.

Most businesses provide credit on 30 day terms follow the end of the month in which the supply was made but this is dependent upon the industry. Fast moving consumer items and consumables such as food and fuel normally use much shorter terms like 7 days from supply. Larger more expensive items can be on 90 day EOM (end of month) terms.

We aggregate data from more than 20 sources and incorporate these into our risk scores to determine the probability of non payment (payment risk score) and the likelihood of failure (insolvency risk score). Several of these risk categories are a good place to start. We consider the industry, the length of time a business has been trading, where they are located to begin with. Access Intell scores go much further and assess payment patterns, court actions, defaults, debt collection agency activity, registered PPSR security, director standing and sentiment alongside trusted credit bureau scores and amongst other important indicators. Access Intell also provides you with the detail on where the information came from to give assurance of its credibility.

Yes, users of Access Intell’s platforms can download Illion (Dun & Bradstreet), Equifax, Creditorwatch alongside reports from a number of other credit co-operatives and agencies within its platforms. Users can choose from Anti Money Laundering (AML), Politically Exposed Person (PEP) and Sanctions, Ultimate Beneficial Owner and Cautionary Associations checks and monitoring.