You delivered the goods, but the payment never came. Now you're chasing a customer you thought was a safe bet. It's a common story, but it doesn't have to be.
In our recent webinar, JBT President Andrew Rickard shares steps suppliers can take to prevent thousands of dollars in losses, and explains how JBT is improving tools to help suppliers act sooner and with more confidence.
Key Takeaways from JBT President Andrew Rickard on Credit Risk
“You should be augmenting [your credit application and references] with JBT credit reports… That’s the way to ensure that the pedigree information is correct.”
Relying on credit references alone when vetting a new customer, especially informal word-of-mouth references, can leave gaps. Cross-checking with JBT gives you a more complete picture. Skipping this step can have clear and costly consequences:
“Just over 75% of our current collections are situations where the supplier did not run a JBT credit report prior to that initial shipment.”
Credit reports help prevent collections claims. While the JBT collections team delivers a competitive success rate, reaching that stage means you've likely already lost the customer relationship, and there's no guarantee you'll recover what you're owed. See what a JBT credit report includes. →
Watch the Webinar: How Credit Reports Help Suppliers Get Paid
Whether you extend credit or not, this session breaks down how a JBT credit report can protect your business from losses. You'll hear about:
- Why credit reports are a nonnegotiable part of customer vetting.
- New JBT initiatives to expand credit data and simplify credit rating guidelines.
- How JBT membership gives suppliers more leverage to get paid.
- Live Q&A with questions from suppliers across the industry.
Conclusion: Prevent Losses with JBT Credit Reports
JBT has been trusted by the industry to provide accurate credit and financial data since 1884, and we're committed to continuing that tradition. We offer a wealth of data to help you confirm a prospect’s identity and evaluate their ability to pay. Put it to work for your business and start preventing loss today.
