Creating a brand new web service for credit management
Late payments are a real threat to businesses, large and small. Research from the Forum for Private Business shows that late payments endanger the financial stability of nearly three quarters of companies. Live|work were engaged by Experian to create a new service that uses payment data to help businesses manage their debtors and improve their credit control.
Live|work found that companies struggled to understand their risk exposure, to manage credit collection pro-actively and to use existing ledger software effectively. In response to these needs we created Ledger 360 – a service that allows businesses to quickly and easily get an overview of their risk.
Ledger 360 works by combining a business’ own sales ledger information with data from thousands of other businesses’ books of current and historical payments, showing managers where their greatest risks lie and highlighting which creditors to pursue first. This helps reduce payment defaults, increases revenue and enables companies to make informed decisions about potential new business clients.
Ledger 360 has proven to have a significant impact on business performance. In May 2007, Experian launched a pilot service that made nearly £1m in just 12 months. Since then it has become one of Experian’s fastest growing Business Information services.
“The testament to their work is the extent to which our organisation is now using either their team or their methodologies”
Jo Howard – Marketing Director, Experian Business Information
Less than a month in and the results are impressive.
The latest piece of work from livework’s ongoing relationship with Experian is B2B Prospector; a quick and simple way to build marketing lists. As part of our work helping Experian to innovate new business to business data services, we redesigned the way they sell marketing information online.
With details of over 2 million UK businesses and unique Experian data on company activity and performance, B2B Prospector’s detailed search criteria helps businesses find the right lead. You can build and order targeted business lists using data from the National Business Database (NBD), which includes unique access to Yell and Thomson records.