CreditQ Introduces Credit Management Feature for Buyers and Suppliers in the Version 2.0

Jaipur, India, July 02, 2021 --(PR.com)-- CreditQ, a leading credit reporting bureau, has facilitated its registered members with the new business credit management feature. The addition of this feature aims at minimizing defaults through efficient tracking and linkage with credit scores. The existing services will continue to help the users report their business credit defaulters, settle payments with debtors, and obtain company credit reports.

While surveying the credit market, the CreditQ specialists anticipated the need for an organized process when it came to initiating transactions. Both the parties, buyers and suppliers, want to maintain transparency and avoid payment disputes. The said credit management feature aims at helping both parties right from the day they form their partnership. Suppliers can obtain digital receiving of the transaction for the material supplied.

The CreditQ app has been successful in formalizing a structure for businesses that deal with the issues concerning recovering bad debts, seeking help in the case of payment issues, and are unsure while forming a new partnership. With this additional feature, it aims to bring transparency to the supply chain. The app users can update themselves on the latest business dealing. It can save their business from the risk of fraud.

The business market is a dynamic one and keeps changing according to the latest market trends. The CreditQ team thoughtfully studied a few cases with no written acknowledgment sent to either party after the transaction. Businesses with no credit history were a part of the research to analyze the problems faced by the suppliers and buyers. The team felt the need to introduce a proper communication channel for suppliers, vendors, buyers, distributors, and channel partners to do business safely and effectively.

The new business credit management feature is easy to use. A buyer or a supplier having a valid GST number can register on the app and start benefiting from it. Every new invoice or bill will have a digital receiving to streamline the workflow. It can help a user make an informed decision regarding the interested party. If both parties lack knowledge about each other’s business, the CreditQ app comes to help as one can obtain and review business credit reports of a new client.

The idea behind introducing the new feature is to make buyers and suppliers appreciate the efforts of each other in following standard business practices. It could lead to a balanced partnership formed in good faith and with mutual respect.

About CreditQ Inc.

CreditQ is the first app and web-based platform in India that works with MSMEs and businesses to help settle payments with business credit defaulters and protect their businesses against financial fraud.