If you’ve ever received a request from a company to give a credit reference on a business customer, you may have different feelings depending on who the customer is. Maybe you have a great relationship with the customer; they always pay on time, buy regularly and clearing up issues is a breeze. The fact that they listed you as a reference should indicate that they have a strong relationship with you. Sometimes, you might be listed as a reference because you are the largest vendor in the industry and have a reputable name that might look good for them to list you as a reference; even if their payment history is slower than you’d prefer.
What’s most likely is that each customer that applies for trade credit is going to list the same handful of companies as a reference, so depending on how active that customer is in applying for new accounts, you may get a lot of reference requests for the same customer. Maybe it’s the Midwesterner in me, but I feel obligated to give a reference to help out a customer even though there is nothing in it for me. However, as nice as I might be, I still might sigh if I keep getting listed as a reference over and over, handing out the same info to company after company.
What if there was a way to save your reference, and re-use it for other companies that request your input as a credit reference for your customers?
Fiado allows you to save the reference information you give for customers so as they continue to open accounts with other vendors, you don’t have to stop and complete the same information again and again. The references are automatically set to last for 6 months but you can update the reference at any time in case something changes. After 6 months, you are asked to review your reference to make sure it is still valid and after approving, it is good to go for another 6 months.
This is just another way using Fiado saves you and everyone else time in the credit application process. Not to mention, creating an account as a reference provider on Fiado is completely free.
