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When you work across national borders, a reliable, fast and low-cost international credit checking system is an essential tool in selecting the right supplier to undertake a particular job. According to a manager of a multinational oil firm, the speed of access available through the ABR platform makes it possible to select from a broader range of suppliers instead of the usual shortlist of large operators.
In the past, we have had situations where companies have submitted a tender to supply particular equipment, or undertake particular tasks, but we haven't been able to ascertain if they have had the size or asset backing to complete the job, the manager explains.
'As a result, we just wouldn't deal with companies if we didn't know anything about them - we were cutting them off the 'to be considered' list for no reason other than we couldn't easily ascertain the financial quality of the organisation.
That's all changed now - smaller companies will now be able to compete with multinationals for our business and I'd expect this competition in the marketplace will ultimately lead to cost savings for us.'
The convenience and timeliness of the service were also big advantages, she explained.
'It's not that we couldn't get the information before - previously we could use our own internal sources and other business units.
For example, if I needed information on a Norwegian company, I would approach our Norway office.
But it was always a matter of trying to locate the right person and even after I did that, while the information might be of vital importance to me, it would tend to fall towards the bottom of that person's 'to do' list.
So being able to access information quickly and see reports turned around within a matter of days, has made a huge difference to the ease and cost of doing business.'
DENISE CULLEN is a freelance journalist who specialises in financial services and consumer affairs. Her work appears in The Sydney Morning Herald, The Age, The Australian and a range of international publications. She can be reached at denise_cullen@optusnet.com.au.
For further information about ABR International Reporting contact ABR Customer Service on 1300 366 402.
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