Credit Rating and Debt Collection on CheMondis

Here at CheMondis we strive to provide and sustain a trusted marketplace for buyers and suppliers. In order to put this into practice, we are proud to introduce two new features on our marketplace.

Suppliers can now profit from credit checks and debt collection services. We have recently started to test both features and would be happy to receive your feedback. The features were implemented to create more transparency on the marketplace and to increase convenience considering the overall cashing process.

Imagine you receive a purchasing request from a new buyer and want to verify if they are able to meet their payment target. The process of searching, finding, and evaluating credit checks is time-consuming and expensive. On CheMondis, you can now get credit checks before striking a deal, during our pilot phase even free of charge.

Even worse, imagine your customer is not able to fulfill the payment, which you previously agreed to. Typically, one would contact and hire an Incasso service. Again, the process of searching, finding, and evaluating an appropriate debt collection service is time-consuming and expensive. CheMondis has the solution. Now Suppliers can request access to our debt collection service, administered by our trusted partner.

Credit Rating Request

When selling products online suppliers do not always know who they are dealing with. It is hard to determine if a buyer is creditworthy and solvent – especially when they are first-time buyers. As a supplier, it is therefore incredibly helpful to understand your buyer’s financial behavior – ideally without having to deal with external rating agencies.

The “Credit Rating Request” allows suppliers to request a credit report at the push of a button. Our credit-rating provides a basis for efficient decision making. While gaining buyer information, suppliers can now decide which payment option to offer. Either grant buyers invoicing or demand payment in advance. Take the decision you consider as most secure for your business – before striking a deal.

After you hit the ”Payment Overdue Help Request” button we will provide you with a debt collection offer – within a few business days. The credit reports are provided in collaboration with our trusted partner and contain the following information:

Creditworthiness Index & Credit Limit

Get information about the creditworthiness of the business partner at one glance and thus identify risks at an early stage. This allows you to effectively prevent debt losses and sustainably secure your business results.

Financial Data

Get financial data of the past 3 years. This includes both the individual and consolidated financial statements in accordance with the German Commercial Code (HGB) and International Financial Reporting Standards (IFRS).

Payment Experience

Payment experiences include both invoices paid within the payment period and late payments. If a company repeatedly exceeds the payment deadline, it is statistically proven that the probability of insolvency increases many times over.

For this reason, our trusted partner Creditsafe has built a pool of payment experiences. The pool is currently fed by 7,000 partners and enables you to view over 74 million payment experiences worldwide.

Information about the Managing Director

Get information about current and former managing directors, shareholders and authorized signatories, which includes the following details:

  • First & Surname
  • Address
  • Date of birth
  • Nationality
  • Function in the company
  • Number of previous and current orders
  • Date of order and cancellation

Furthermore, you can find out whether Companies in which the managing director previously held a managing position are still active or insolvent. And if the managing director has already accompanied companies into insolvency.

Your benefits in a Nutshell

As a Supplier: Get a basis for efficient decision making, regarding potential new buyers. Also, profit from less administrative work, near to zero-time consumption and lower general costs while using our “credit rating request”. In case something should go wrong, we also offer support when a payment is overdue.

Debt Collection Service

Debt collection is an unpleasant topic – but it can happen. In case your buyer has difficulties paying your invoice, you can make use of our debt collection service. If you notice payment is overdue, you can now request debt collection directly via our marketplace.

The CheMondis customer support will reach out to you and the buyer to clarify the situation. Request debt-collection directly on CheMondis and profit from less administrative work, near to zero-time consumption and low general costs. Use our new features and benefit from the simplicity and convenience of our marketplace.

Now it is up to you

What do you think of our new features? Are they helpful? What is most helpful to you? And which other features could be useful on the marketplace? Let us know and leave a comment in the section below!

Thank you for taking the time to read the CheMondis Blog. 

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