Traditional Customer Credit Reanalysis

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Have you ever done a CREDIT REANALYSIS on a regular customer of your store? Do you know when is the ideal time to think about doing it? In this article, you will learn more about it!

If there is one important secret that I can share with all types of entrepreneurs, it is that we cannot stagnate or remain still. It is important to always be evaluating points that can be improved, aspects that used to work well and that now do not work as well. All of this is very important to ensure success in business .

With this in mind, taking the time to reanalyze the credit vnpay database of traditional customers can make a difference to your cash flow. After all, it is necessary to keep up with these changes so that your business and finances are not harmed.

With that in mind, how about checking out how to stay up to date with credit analysis?

Join me in this reading!

WHAT IS CREDIT ANALYSIS AND REANALYSIS?
When a consumer requests a line of credit on a credit card, it is important that a credit analysis be performed to ensure the security of the payment for the retailer. For this to occur correctly, a credit analysis must be based on interconnected factors, which usually include the customer's registration data, the consumer's purchase history and also information obtained from credit protection agencies.

In other words, you analyze the customer's needs and profile and, therefore, you are sure that they are a good payer. Based on this, you can define what the appropriate limit will be for them.

To control the risk of default, more and more retailers are performing this credit analysis on new customers. But when is it time to reanalyze traditional customers?

The truth is that 90% of stores don't know how to define when a new customer becomes a regular customer. However, in addition to knowing when they become regular customers, it's important to understand how to define your relationship with this customer. Do you have the habit of evaluating your payments? If everything is up to date, do you increase your limits? If you're late, do you reduce your purchasing possibilities? This is part of the credit reanalysis of a regular customer. Learn how to preserve your financial health now.

SO, WHY PUT CREDIT REANALYSIS INTO PRACTICE?
It is when the customer becomes traditional that most credit errors begin to occur. Many stores simply end up putting these customers “in the drawer” and never change their credit limits , leaving them stagnant there.

However, it is important to keep in mind that you have all the conditions to be able to predict what might happen. Based on this, credit reanalysis exists for two reasons: to evaluate the customer's history in your store and to identify situations to make a safe limit increase. In other words, the goal here is to always have the guarantee that your customer will pay you.

Furthermore, this analysis helps you identify whether, at a given moment, the customer's behavior is at the level of payment that we call adequate. With credit reanalysis, you can be cautious and maintain your default rates, as well as value good payers.

Remember one of the principles of default: a customer is a good payer until they stop being one. You can't put your cash flow at risk just for trust. You need to evaluate scenarios and understand when it's time to increase credit or even block credit.

Did you enjoy learning more about this? Contact our team of experts and find out how Meu Crediário can transform your business.

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