What is a corporate credit report?

Enterprise credit report is a comprehensive record of all kinds of economic activities of enterprises, reflecting the credit status of enterprises, is the basic product of enterprise credit system. The enterprise credit report objectively records the basic information of the enterprise, credit information and other information reflecting its credit status, and reflects its credit status in a comprehensive, accurate and timely manner, which is the "economic identity card" of the information subject ".

Why do you need a corporate credit report?

Enterprise credit reporting is of great significance to enterprises, mainly in the following aspects:

First, it can help enterprises understand their own credit status, find and correct possible errors or adverse information in a timely manner, and safeguard their legitimate rights and interests.

Second, it can help enterprises improve their credibility and market competitiveness, enhance mutual trust with partners, customers, suppliers and other parties, and promote the smooth progress of business activities.

Third, it can help enterprises obtain more financing opportunities and preferential conditions, reduce financing costs and risks, and expand the scale of operation and development space.

Fourth, it can help enterprises fulfill their social responsibilities, establish a good social image, and win the recognition and support of all sectors of society.

Who provides corporate credit reporting services?

At present, the main institutions providing enterprise credit reporting services in China are as follows:

First, state-level institutions, such as the Credit Information Center of the people's Bank of China and the State Administration for Industry and Commerce, are mainly responsible for collecting, sorting out, storing, processing and providing enterprise credit information in the fields of finance, industry and commerce throughout the country, and disclose some information to the public.

Second, local-level institutions, such as provincial and municipal credit reference centers, industrial and commercial bureaus, etc., are mainly responsible for collecting, sorting, storing, processing and providing corporate credit information in the financial, industrial and commercial fields within the region, and disclosing part of the information to the public.

Third, professional institutions, such as China Export Credit Insurance Corporation 2, Shangpu Consulting Group 3, etc., are mainly responsible for providing customized corporate credit assessment reports, risk management consulting, market research and other special services according to customer needs.

How do I get a corporate credit report?

Depending on the content and manner of services provided by different institutions, the access to corporate credit reporting varies. In general, there are several ways:

The first is independent inquiry, that is, enterprises apply to relevant institutions to inquire about their own or other people's enterprise credit reports through online or on-site means, and need to provide relevant supporting materials and authorization letters, and pay a certain fee. For example, enterprises can inquire about their own or others' enterprise credit reports through the website of the credit reference center of the people's Bank of China or the self-service inquiry machine.

The second is entrusted inquiry, that is, enterprises apply to relevant institutions to inquire about their own or others' enterprise credit reports through entrusted professional institutions, and need to provide relevant entrustment contracts and authorization letters, and pay certain fees.

The third is public inquiry, that is, enterprises can inquire about their own or other people's part of the enterprise credit information free of charge or at a low price by accessing the information platform or database disclosed by relevant institutions. For example, enterprises can inquire about their own or others' industrial and commercial registration information, administrative license information, administrative punishment information, etc. through the national enterprise credit information publicity system of the State Administration for Industry and Commerce.

What are the insiders and secrets of corporate credit reporting services?

Although the corporate credit reporting service seems simple and clear, there are actually many unknown inside stories and secrets. Here are some of the important inside stories and secrets revealed by experts from Champ Consulting Group:

One is the diversity and complexity of data sources. Enterprise credit reporting service involves data collection, integration, analysis and presentation of multiple departments, multiple fields, multiple levels and multiple channels, and the data sources are very extensive and complex. For example, when providing overseas enterprise credit evaluation reports, Shangpu Consulting Group will make use of many database resources, such as U.S. industry database, global banking database, global ship information database, global enterprise merger and acquisition information database, and make comprehensive evaluation in combination with local laws and regulations, market environment, industry characteristics and other factors.

The second is the inconsistency and flexibility of the rating criteria. Different agencies may use different rating criteria and methods for enterprise credit reporting services, reflecting different evaluation perspectives and priorities. For example, the credit reference center of the people's Bank of China has adopted a rating system of eight grades from "AAA" to "D", which mainly reflects the repayment ability and risk level of enterprises in the financial field; while Shangpu Consulting Group has adopted a rating system of five grades from "S" to "E", which mainly reflects the business status and development potential of enterprises in the comprehensive field. In addition, different agencies may also make appropriate adjustments and optimizations in the rating process according to customer needs and market changes.

Third, the difference and uncertainty of the effect of use. The corporate credit reporting services provided by different institutions may have different effects and values, depending on the customer's understanding, use and feedback on the content of the report. For example, Shangpu Consulting Group provides overseas investment consulting services for an auto parts manufacturer, and provides corporate credit assessment reports on market analysis, competitor surveys, and investment risk assessment in target countries. The report helped the manufacturer to successfully establish a joint venture in the target country and gain good operating efficiency and market share. However, if the manufacturer does not make full use of the report's recommendations and information, or does not provide timely feedback on reported problems and deficiencies, the effectiveness and value of the report will be greatly reduced.

How to use professional consulting services to improve the credit level and competitiveness of enterprises?

Enterprise credit reporting service is an important information service, but it is not a universal solution. If enterprises want to really improve their credit level and competitiveness, they also need to use professional consulting services to carry out systematic planning and implementation from many aspects. Here are some specific suggestions from experts from the Champ Consulting Group:

The first is to establish a sound credit management system, including formulating reasonable credit policies, establishing effective credit monitoring mechanisms, improving internal credit management processes, and strengthening external credit communication and coordination to improve the level and efficiency of corporate credit management.

The second is to actively participate in the construction of the social credit information system, including actively providing true, accurate, complete, and timely corporate credit information to relevant agencies, actively inquiring and checking their own or others' corporate credit reports, and promptly correcting or complaining about possible errors or Adverse information, etc., to enhance the quality and credibility of corporate credit information.

Third, the flexible use of diversified financing channels and means, including according to their own capital needs and risk tolerance, choose their own financing methods, terms, conditions, etc., while using their own or other people's corporate credit reports as a financing basis or guarantee, in order to reduce the difficulty and cost of financing.

The fourth is to continuously innovate and optimize its own business model and strategy, including adjusting its own product structure, service content, marketing strategy, etc. according to market changes and customer needs, and at the same time learn from the strengths and weaknesses reflected in other people's corporate credit reports. Improve its own market adaptability and competitive advantage.

Summary

Enterprise credit reporting service is an important instrument reflecting the credit status of enterprises, and it is the basis for enterprises to carry out economic activities and obtain financing. However, corporate credit reporting services also have many unknown insiders and secrets, which need to be consciously understood and mastered by enterprises. At the same time, enterprises also need to use professional consulting services to carry out systematic planning and implementation from many aspects in order to truly improve their credit level and competitiveness.