Ever reviewed something and later on changed your mind? Maybe you bought a new house and reviewed the home builder with how great it looked on the day you move in, but after a month in the house, the paint is peeling, the carpet is coming undone and the bathroom vent is making weird noises keeping you up at night? ¯\_(ツ)_/¯
You might not want to leave up a positive review and have others depend on your experience if your original review is no longer valid. In these cases, you might be able to change your review if left on Google or other sites and move on.
In the credit reference world, it’s not so easy to change your reference later on. Sure, your answers were valid and true at the time. At first, the customer was paying on time and you were happy to leave a positive reference for that customer of yours. But what happens when that customer stops making payments and stops returning phone calls? It might not even cross your mind that you gave them a positive reference months ago, but if you had the ability to adjust your reference, would you do it?
One of the benefits of using Fiado as a reference provider is that you don’t have to continually complete requests for references for the same company over and over as mentioned here. The other side of the coin is that as long as your reference is valid, other companies are potentially using your glowing reference as a decision data point in their own analysis.
Fiado makes it easy to update your reference so that it reflects the current situation. This helps keep customers accountable because as you update your reference, for better or worse, other companies who are relying on your reference are notified of a change. This helps our community stay aware of changes within the ecosystem. This ability to change your reference is a vital piece of the reference provider toolkit and is completely free with your account.
If you’re interested in learning more, complete the fields below and we will reach out.
