How can businesses use data as a foundation for growth?
In times of economic uncertainty, credit decisioning is arguably more important than ever. But Dun & Bradstreet research shows companies are struggling to leverage their data resources in a way that informs credit decision-making. How can businesses bridge the gap, and begin to apply data to not only effectively reduce credit risk, but create a foundation for growth?
Credit decisions are always crucial, but in a strained economic environment like the one facing businesses in Europe, they come into even sharper focus.
A lending squeeze is fast emerging as one of the main threats to the economic outlook, with European Central Bank data showing banks have tightened credit standards at the fastest pace since the 2011 debt crisis. Meanwhile at the business level, risk aversion is rising just as companies are more likely to face credit requests from customers whose balance sheets are coming under pressure.