Before partnering with another business, contracting with a new vendor, or issuing a line of credit to a new client, it is essential that you conduct some research to ensure you’re making the right business decision. Commercial intelligence background checking services allow you to determine the validity of a new business venture like those described above.
Commercial intelligence background checks are also a means by which to keep tabs on your competitors. Ensure you’re current on industry trends and that your competitors are not outpacing you. Know how your competition is performing, if they’re planning to purchase new equipment or to launch a new product. Know whether a company is or has filed bankruptcy, is it is merging with another company, or changing ownership or leadership.
Learn about the business itself as well as the people who own and operate the company you’re investigating. PrescribeHire’s Commercial Intelligence Services include business credit reports, professional licenses, tax liens, bankruptcies, and numerous other pieces of data of critical importance to making well informed, strategic business decisions.
Confirm the identity of business owners and other principals on credit applications, including date of birth, social security number and address.
Verify the professional licenses of any potential business partners or vendors, or check the credentials of individuals appearing on a credit application.
Ensure the company is in good standing with local, state and federal authorities through a Federal Identification Number (FEIN) search and State Identification Number (SID).
Review recent press releases and learn what the media has to say about the company, including data found in local and national publications and industry trade journals.
Know in advance of partnering with a vendor, signing a new client or pursuing any other business to business relationship if the company has been sanctioned by any major credit or lending organizations.
Know how a company is paying for operating expenses and overhead costs and from whom a business receives its financing. Check for Universal Commercial Code (UCC) Filings and know whether or not any open lines of credit or other financing are in good standing.
Check county, state and federal civil and criminal courts to ensure there have been no liens placed on the company’s property or assets and that no judgments have been filed against the corporation or its owners.
Determine if any bankruptcy proceedings have been filed under the current or past business names.
Check into the credit history of a business owner.
Check into the credit history of a business.
Follow this link to view a full, detailed listing of our verifications.
Verifications can be purchased separately, as part of a standard package, or included in a customized solutions package.
If you’re ready to request an account with PrescribeHire, including access to our Online Reporting Services, simply follow this link to complete the Account Registration Request Form.