Frequently Asked Questions - Trade Receivables

What is the trade receivable program?

Credit professionals use CreditRiskMonitor's Trade Contributor Program to gain quality, real-time insights into their accounts receivable portfolio. We collect in excess of $2 trillion in trade data annually from our trade providers. After processing this data, we work with credit professionals to be more proactive and tactical with their accounts receivable to make healthier business decisions.

How do I join the trade receivable program?

By simply submitting your accounts receivable information via an electronic medium of your choice we will incorporate your information into our trade database.
  • Email - Trade data files may be emailed directly to us at TradeData@crmz.com. If you already email data files to credit reporting agencies or trade credit groups, then just add our address to the CC list and we'll take it from there.

  • SFTP - Many providers find it easiest to have their IT departments set up an automated monthly "push" of trade data files to us via Secure File Transfer Protocol (SFTP). If you would like to use SFTP, please call or email Joseph Iveli for details:

    Joseph Iveli
    CreditRiskMonitor.com, Inc.
    845-230-3092
    jiveli@creditriskmonitor.com

What type of format should the trade data be in?

We will accept your trade receivable data in just about any electronic form that is convenient for you to produce, with the excption of PDF format. If you already provide trade receivable data to D&B™, Experian, an industry credit group or any other entity we can accept your information in that same format. If you do not currently export these records or have the flexibility to change the layout for us then our preferred file formats and data elements are described below.
  • Fixed-Field Format - A number of our trade providers give us simple flat files with fixed-length records, with or without carriage returns at the end of each record. Often, fixed-field formats are the easiest for legacy A/R systems to create. If you elect to send your data in fixed-field format, we will also need a one-time description of the file layout, so that we can tell where the various fields start and end in your data file.
  • Delimited Format - In the delimited formats, each field is separated from its neighbor by a delimiter character, typically comma or tab. When a field needs to use the delimiter character, that field is enclosed in double quotes. The most popular variation is Comma Separated Values (CSV) format, which is also sometimes known as comma-delimited, but we can handle files that use virtually any delimiter character. In all delimited formats, the order of the values is used to determine which value represents which field. Most often, delimited formats include a list of "headers" (field names) as the first line in the file. If you send us delimited format data files that do NOT have a header line, we will need you to supply us with a one-time list that specifies the names of the fields that you produce, in the order that they will appear in each line of the data files that you produce.
  • XML Format - If you have a newer A/R system that is capable of extracting data into XML format, we can process it easily. XML is self-documenting, so all we need is the XML file itself. If you are creating a new XML stream from scratch, the simplest thing for us would be for you to use the exact field names (without embedded spaces, of course) listed in the table below.
  • Other Formats - If you can't deliver your trade receivables data in any of the above formats, then send it to us in whatever format you have.

What kind of trade information is required and/or available?

Data Fields Required? Description
Account Number Required Your own A/R account number, used by us internally to match up records received from you from one month to another. This information is used for internal matching only and is never disclosed to our customers.
Company Name
Street Address
City
State
Zip Code 		Required The name and address of your customer, used by us to match your records up with records from other trade providers. To match, we need at least the company name and one line of street address, plus either city and state or zip code. Zip codes may be either 5 or 9 digits long.
Country Required The country code is required if you are submitting information for companies outside of the US.
Phone Number
Fax Number
Federal Tax Id 		Optional Identifying fields that, if you have them, are also used in matching your records to those of other trade providers. These are less critical than the basic name and address information, but the more identifying data we have the better job we can do on matching and searching.
Date of First Sale
Number of Years Sold		 Optional Either of these indicate how long this company has been your customer.
Industry Code Optional The SIC or NAICS code that best describes this customer's line of business.
Month and Name of Company Submitting the Report Required Embed the date of the data extract into each record you send to us.
Date of Last Sale Optional The date of your most recent sale to this customer.
Terms Optional A simple textual description of the selling terms for this customer (e.g., "Net 30")
Credit Limit Optional This customer's current credit limit.
High Credit Optional The highest credit that has actually been extended to this customer.
Current Amount Required The amount that this customer currently owes, excluding any past due amounts.
Past Due 1 to 30 Days
Past Due 31 to 60 Days
Past Due 61 to 90 Days
Past Due 91 to 120 Days
Past Due 121 to 180 Days
Past Due 181 to 360 Day
Past Due More Than 360 Days 		Required These fields specify aged past due amounts for different time frames. We recognize that different providers use different aging buckets. We use standardized aging buckets. Our standardized aging buckets are 1 - 90 days past due, and 90 plus days past due.
Total Receivables Required Indicates the total owed by this customer including both current and past due amounts.
In Collections Optional Indicates this customer's past due amounts have been placed in collections.

How often is the trade data updated?

Most trade providers send their information to us on a monthly basis.

Do subscribers know which companies participate in the trade program?

All data is confidential and your company name is not revealed to our customers when they access the trade payment information on the CreditRiskMonitor site.

How do I access the trade information on the CreditRiskMonitor site?

Use one of the "Company Lookup" functions to find the business that you are looking for. If the column labeled "Payments" contains a link then click on it.
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Saturday, December 21, 2024