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Commercial Credit Reporting
International Committee on Credit Reporting Meeting Carlos Fernández Iñigo (Deputy General Manager)
Madrid, September 30 2013
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Index
1. Who are we?
2. Why a credit information provider is needed?
3. Commercial Credit brief history
4. Commercial Credit in Spain. Impact
5. Credit information. What is it used for?
6. Credit information. Basic design and main gaps
7. Credit information. A world wide view
Who are we?
INFORMA D&B is the company from Grupo
CESCE leader in the supply of Commercial,
Financial and Marketing Information both at
domestic and international level, on companies and
businessmen, in order to increase clients' and
suppliers' knowledge and minimize business risk.
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1. Who are we?
2. Why a credit information provider
is needed?
3. Is this something new?
4. Commercial Credit brief history
5. Commercial Credit in Spain. Impact
6. Credit information. What is it used for?
7. Credit information. Basic design and main gaps
8. Credit information. A world wide view
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Why a credit information provider is needed?
needs
needs
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1. Who are we?
2. Why a credit information provider is needed?
3. Commercial Credit brief history
4. Commercial Credit in Spain. Impact
5. Credit information. What is it used for?
6. Credit information. Basic design and main gaps
7. Credit information. A world wide view
7
Is this something new? Let’s make history…
• In old days:
• Business were only done in closed environments
• Only with known people
• However, Roman legislation creates insolvency proceedings and
punishment rules in case of non-payments
• Middle Age:
• Business were very fair driven (Regulation on the transactions inside fairs,
were very strict).
• However, all relationship were based on confidence and past experiences
• Banks began their activity as a payment guarantee
• First public lists of insolvency creators (bonnet vert-green hat)
Commercial Credit brief history
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XV century brings the need to use courier (written media) to transfer
knowledge, specially overseas
XVIII century comes with the creation of commercial guides (1795 the first
Spanish one), what we could consider as the first example of today’s
directories
XIX century sees the creation of the first information agencies (our “mother
companies”)
Commercial Credit brief history
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D&B Case
• 1841 The Mercantile Agency
• The Agency is established “for the purpose of procuring by resident and special
agents, information respecting the standing, responsibility of country
merchant’s”…
“to ascertain whether persons applying for credit are worthy of the same and to
what extent”
• 4 US Presidents have worked for the company
• Iberian subsidiary (INFORMA) is 110 years old in Spain and 107 years old in
Portugal
Commercial Credit brief history
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Since credit began, creditors have always wished to recover their credit.
This need has had several consequences:
• The law has adapted itself to the new conditions by creating new requirements
and penalties.
• New recovery mechanisms have been created in legal proceedings
• Little by little, the legislation has forced the anticipation of the delay in payment
situations
• New research methodologies have been created in order to know whom to enter
in a relationship with.
• In these last years, risk predicting mathematical models have been created in
order to be used before entering on a business relationship with the creditors.
Commercial Credit brief history
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“La nouveauté se fait par arrangements inédits des
choses anciennes”
Jacques Monod
Commercial Credit brief history
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1. Who are we?
2. Why a credit information provider is needed?
3. Commercial Credit brief history
4. Commercial Credit in Spain. Impact
5. Credit information. What is it used for?
6. Credit information. Basic design and main gaps
7. Credit information. A world wide view
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Commercial Credit in Spain. Impact
Source: Bank of Spain
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Commercial Credit in Spain. Impact
Source: Bank of Spain
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Commercial Credit in Spain. Impact
Source: Bank of Spain
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Commercial Credit in Spain. Impact
Source: INFORMA
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Commercial Credit in Spain. Impact
Source: INFORMA
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Commercial Credit in Spain. Impact
Source: INFORMA
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Commercial Credit in Spain. Impact
Source: INFORMA
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Commercial Credit in Spain. Impact
Source: INFORMA
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1. Who are we?
2. Why a credit information provider is needed?
3. Commercial Credit brief history
4. Commercial Credit in Spain. Impact
5. Credit information. What is it used for?
6. Credit information. Basic design and main gaps
7. Credit information. A world wide view
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Which is the relationship between our customers and the companies they
are consulting the report from?
→ In a normal day in the web, they declare that:
25,0%
1,5%
15,2%
12,4%
15,6%
29,8% Other usage
Prospects
My own company
Competitors
Suppliers
Customers
Credit Information. What is it used for?
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Big Companies
Small Companies
A few B2B
Customers
Many B2B
Customers
They are sporadic users, where the Risk
Manager is also the Company’s Manager.
They are usually Internet Customers
(eInforma). Customers often make their
decisions based on the content of the
report.
Since they are small Companies, we can
assume that the B2B invoice is small in
each case. So, normally they are flat-rate
Customers. They base their decisions in the
Scoring value of the reports.
There is a Credit Management department,
so they require a specialised commercial
contact. They base their decisions in
commercial experience (Consumer Credit).
They require solutions based on information
with a strong monitoring component.
Customers with specialised and professionalised
management. They require complex solutions based not
only in commercial information but also in additional
products (Credit Insurance Policies). Such Clients often
generates decision-making systems in which the existing
information in the company is essential. They require
systems that integrate public sources’ data with their own
internal systems’ data.
Credit Information. What is it used for?
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Database Data
Companies
Sectorial analysis
Economical studies
Strategic decisions
Commercial credit
Prospects
Suppliers
Compliance
Credit Information. What is it used for?
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Find and gain knowledge about companies and
their managers.
Classify new clients.
Stay informed at all times on the situation and
evolution of clients, suppliers and prospects.
Study credit levels and payment delays.
Ascertain the purchase potential of your clients.
Know your suppliers.
Study the competition´s positioning
Credit Information. What is it used for?
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1. Who are we?
2. Why a credit information provider is needed?
3. Commercial Credit brief history
4. Commercial Credit in Spain. Impact
5. Credit information. What is it used for?
6. Credit information. Basic design and main gaps
7. Credit information. A world wide view
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Our information can be seen in 4 main pillars and one component:
Social
Network
1
Characteristics 2
Financials 3
Past experience 4
A N A L Y T I C S
5
Credit Information. Basic design and main gaps
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How good is Spanish information in order to fill these blocks?
1 2 3 4 5
Mercantile Societies (S.A-S.L.) Good Very Good
Very Good
Good Good
Sole Proprietors and Rest of Legal Entities
Non Existing
Medium Non
Existing
Poor and
Risky
Based on Consumer
Credit Proxies
Credit Information. Basic design and main gaps
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Main information gaps
1 2 3 4
Mercantile Societies (S.A-S.L.) More linkages
in Public Repositories
More Public Sources (Social Security)
Activity/Inactivity
indicators
Timing
More information (ever positive)
Public Administration
Is reducing its publications
Sole Proprietors and Rest of Legal Entities
Ownership disclosure
Good universe Basic
figures Access to Credit
Bureau Files
Credit Information. Basic design and main gaps
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Where does our information come from?
Known
Public
Sources
Information created
by the own company
Information
created by others
Database
Main Challenges
•Accuracy
•Different information timings
•Entity matching
•Inputs #2, and specially #3, are growing
exponentially with different sources and
formats
2
1
3
Credit Information. Basic design and main gaps
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Data Quality Pyramid
Treatment of the data by an Analyst
Direct and accurate treatment of the information
Automated rules of data-cross checking
Credit Information. Basic design and main gaps
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BORME PRENSA D. CUENTAS BOP BOE
Public Sources
Credit Information. Basic design and main gaps
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Public Sources
BORME:
Daily Update
OCR recognition and manual treatment
Online availability in the same publication date.
1,7 MM events per year
BOP, BOE…:
Legal eventes capture.
17.000 Bulletins per year, 90.000 events/month
OCR recognition and manual treatment.
Daily update
Press:
National, economical, regional, specialized media
Daily Update
Monthly average:5.200 entries
Credit Information. Basic design and main gaps
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Our national database
6 million Spanish economic agents.
3.3 million companies and active sole
proprietors with rating
More than 11.4 million administrators.
More than 10 million companies' balance
sheets.
More than 2.4 million companies with corporate
links.
Credit Information. Basic design and main gaps
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1. Who are we?
2. Why a credit information provider is needed?
3. Commercial Credit brief history
4. Commercial Credit in Spain. Impact
5. Credit information. What is it used for?
6. Credit information. Basic design and main gaps
7. Credit information. A world wide view
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Credit Information. A world wide view
EUROPE:
93.250.407
ASIA and OCEANIA:
38.080.024
MIDDLE EAST:
1.454.148
AFRICA:
2.649.517
NORTH AMERICA:
71.571.190
SOUTH AMERICA:
19.332.504
TOTAL
226.337.790 companies
INFORMA D&B is Dun&Bradstreet International's partner for the Iberian
Peninsula, forming part of the D&B Worldwide Network.
Companies from all over the world are identified by a D-U-N-S® number.
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As a network, we are uniquely positioned to look at data in
entirely new ways for important insights that drive action
Traditional Data and
capabilities
Linkage
Trade
Financials Company
Data
Web
Reports
Scores &
Indices
Data sets
Emerging Capabilities and
Concepts
CMA/LMA
Malfeasance
Transparency
People in Context
Velocity of Change
Behavior vs. Buzz
Virtual Organizations
???
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INFORMA and D&B have crafted a data, insight and analytics
roadmap with a focus on providing customers with actionable insights
De
pth
of
Dat
a an
d C
ust
om
er
Val
ue
We see this as a mean to shift from insight…to actionable foresight
Company Coverage
Company Insight
New / Enhanced Standard Scores
Customized Analytics
Proprietary solutions tailored to an Environment
Individual Customer’s
Custom Analytics
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Associations
Customer Service
+34 902 178 078
Business information
www.informa.es
You could find us
at:
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Appendix 1
Fuentes estratégicas solicitadas a ASEDIE
NUEVAS UTILIDAD
1. Sede electrónica y Tablones Edíctales Análisis de solvencia , modelización herramientas Rating, Scoring
2. DNI Órganos Sociales Transparencia y correcta relación de los Órganos Sociales en distintas empresas
3. CMT equiparando al listado telefónico Ficheros de Marketing, Geomarketing, direcciones y actividades
4. TGSS seleccionadas las siguientes 5 BBDD • Censo Global de Cooperativas • ERES • Empresas y empresarios inscritos en la TGSS • Nº de trabajadores por empresa, centro de
trabajo y movimientos • Empresas con pagos pendientes con la TGSS
Análisis de solvencia, modelización herramientas de Rating, Scoring Actualización del Censo Análisis de solvencia empresarial Indicador de actividad, prevención de fraude Análisis evolución de empleo Análisis de solvencia, modelización herramientas de Rating, Scoring
5. AEAT • Censos de NIF’s de empresas y empresarios con
datos de contacto asociados y domicilio fiscal • Censo de NIF’s de empresas y empresarios que
realizan declaración de IVA (mod. 390) • Declaraciones mensuales y trimestrales de IVA
empresas y autónomos incrementales y con carga masiva
• Empresas con operaciones de comercio exterior y sus movimientos
• Empresas con pagos pendientes con la AEAT. Sede electrónica y Tablones
Actualización del censo Indicador de actividad, prevención de fraude Indicador de actividad, prevención de fraude Ficheros de marketing, productos y servicios de empresas Indicador de actividad, prevención de fraude
6. Ministerio de Justicia “BBDD y actualizaciones incrementales de la información pre concursal de los distintos Juzgados Mercantiles de territorio Nacional “
Actualización situaciones concursales, riesgo, morosidad, fracaso empresarial, sistemas de evaluación, Rating, Scorings
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Appendix 2
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Apendix III INFORMA’S main facts
57 Sales volume and sales
-10.000.000 €
0 €
10.000.000 €
20.000.000 €
30.000.000 €
40.000.000 €
50.000.000 €
60.000.000 €
70.000.000 €
80.000.000 €
90.000.000 €
100.000.000 €
Ventas consolidadas Ventas Beneficio de Explotación
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INFORMA D&B's philosophy is summarized in five corporate values:
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of the
Ibex-35 companies
of the
Financial entities
more than
85%
more than
95%
Sector of
activity Electricity Chemical and Pharmaceutical Telecommunications Construction Services
Percentage
of the Top 25 72% 68% 60% 60% 56%
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