Commercial accounts receivable debt in the majority of states improved between January and February despite the situation getting worse in select regions
BOCA RATON, FL (March 16, 2009) – Cortera, a premier provider of collections and credit insight for commercial enterprises, today released their most recent data that assesses the overall economic health of a region based on how well companies are paying their suppliers. Cortera’s database tracks 18 million public and private companies in the United States based on thousands of trade payment contributors and contains over $250 billion in accounts receivable information. This analysis, which can be accessed at http://www.cortera.com/stats, revealed the following:
According to Cortera CEO Jim Swift, “With 28 states improving since last month there is a hint of good news. It’s still a tricky environment out there with states like Minnesota and Wisconsin that both saw their respective past due percentage and unemployment deteriorate in the last month. New England is also starting to be impacted with Rhode Island and Massachusetts companies seeing their past due percentage grow by 18% and 10% respectively. We continue to watch the performance of businesses as the federal stimulus money begins to work its way into the most impacted regions.”
To help companies of all sizes improve their cash flow, Cortera has launched its new Collections Priority Rating – CPR℠, designed to assist commercial collections departments in evaluating customer portfolios for signs of delinquency, changes in payment behavior and indications of internal and external events that could affect future payment behavior. Unlike a credit score which is typically based on rolling averages, CPR is based on immediate and relevant data that at any given time, can determine a company’s ability to pay. Cortera CPR℠ also provides a unique segmentation feature that clusters accounts based on overall payment risk. This can assist customers in prioritizing their collection efforts. To learn more about Cortera CPR, visit http://www.cortera.com/products/collections-priority-rating/.
About Cortera
In a sea of business information providers, Cortera is different. With over 15 years of industry innovation, Cortera provides a fresh perspective on business information and offers innovative tools to improve corporate intelligence. With its robust database containing virtually every private and public U.S. company, innovative analytics about each of those companies and advanced workflow software, available at http://www.cortera.com/products/, Cortera helps credit & collections professionals know more than ever before about their prospects, customers and partners. Cortera also offers free company profiles on millions of companies at http://start.cortera.com.
Contact:
Alex Coté, Cortera
857-403-1370
"We rely on Cortera business information to make critical credit & collections decisions every day. We couldn't be happier with the results."
"It is very gratifying when your VP of Finance comes out of his office to congratulate your team on their improved metrics. Our partnership with Cortera has really helped us to achieve these results."