We are delighted to announce that we have been shortlisted as one of three finalists in the 'Employer of the Year category' in the SME Buckinghamshire Business Awards 2018.
We are excited to announce that in our quest to provide our valued customers with the best possible date across the globe, we have switched our data partner for reports generated in Austria, Poland, Switzerland and Romania.
After significant testing, we have experienced a 90% improvement in the reports available instantly and have also been really impressed with the depth and quality of the data.
This month we wanted to highlight the work of Forums International. They are a leading provider of credit professional forums and focus groups both in the UK and Europe. With over 20 years’ experience of delivering forums and events they have established an enviable reputation throughout the credit profession operating 10 credit professional forums across and within a variety of industries.
Small Business Commissioner, Paul Uppal has set up a new website to make it easier for small business owners to resolve their late payment disputes. It is hoped that this website will assist companies and help to change payment practices across the board.
Earlier this month Lisa Boots, one of our Corporate Account Managers, had her beautiful long blonde hair cut into a bob in aid of the Little Princess Trust.
For those of you who are unfamiliar with this charity, they give away free real hair wigs to children and young adults who have lost their own hair through cancer treatment or other illnesses. In addition to this, in partnership with the Children’s Cancer and Leukaemia Group, they also fund research into childhood cancers.
There is no getting out of it, GDPR is something that you need to come to terms with as a business or you could face a hefty fine. How many of us have read an article or been offered a course on GDPR and have filed it in the ‘To Do’ pile because we know that it is going to be a huge task?
The most likely scenario is that you simply don’t have the time to read through mounds of paper work to understand it all and possibly still miss out something vital.
We had a wonderful time at the CICM Awards earlier this month. We didn’t pick up any trophies in the categories for which we were shortlisted for but we were still proud to be nominated as a finalist in ‘Employer of the Year’ and the ‘Credit Information Provider of the Year’ category for the 6th year in a row (the only Credit Information Provider to have this honour). It was a great chance to meet with some of our customers and partners who were also in the finals and to see some of them win.
According to the International Monetary Fund (IMF), prospects for the global economy are looking brighter, particularly within Europe and Asia.
Tax reforms in the United States are also expected to stimulate economic activity, especially business investment, as a result of lower corporate taxes but the IMF has substantially downgraded its forecast for South Africa for this year and next.
Here we focus on one of our newest members of the team... Jane Bray.
Jane is one of our newest recruits and started in May 2017 as the Marketing Manager. She has worked in Marketing and PR for over 15 years in various sectors including technology, hotels and education and is enjoying working at CoCredo. She loves the office environment and her new role. Jane is a keen baker and loves making cakes, although she hates going to the gym to burn them off!!
UK based construction giant Carillion is going into liquidation after its huge financial troubles finally overwhelmed it.
Despite discussions between Carillion, its lenders and the government, no deal could be reached to save the company after it collapsed under the weight of a gigantic £1.5bn debt.
Here at CoCredo we are really excited about 2018 with many potential opportunities and challenges ahead. As you may be aware we have recently integrated with a number of new providers and we have some exciting product developments in the pipeline that we will be unveiling during the year.
The banks have been given extra time to be fully set up for Open Banking, a system allowing customers and small businesses to use their payment history to get better deals.
The UK's nine biggest current account providers were told by the Competition and Markets Authority (CMA) to be ready to start on 13 January 2018.
We are delighted to announce that CoCredo has been nominated as a finalist in the CICM British Credit Awards 2018, in the 'Credit Information Provider of the Year' and 'Employer of the Year' categories.
According to the latest figures released by the Registry Trust, the number of county court judgments (CCJs) registered against businesses in England and Wales rose during the third quarter of 2017, compared with the same period a year ago.
During Q3 2017, there were 24,698 CCJs registered against businesses in England and Wales, which is a 27 percent increase than the same quarter in 2016. Prior to this figures had decreased year on year for the past 8 years. The total value of all business CCJs rose by 13 percent to £80,506,210; this was the first time since Q3 2011 that a relative increase occurred.
Location: Remote working
We are pleased to announce that CoCredo has been confirmed as a finalist in the Credit-Connect, Credit & Collections Technology Awards in the categories of Credit Reference & Information Solution, Credit Risk Solution and Innovation in Credit.
Next year’s Oxford Children's Hospital Charity Golf Day will be on June 15th, 2018
We’d love to have you join us again next year at Studley Wood. Please make a note of the date and we’ll have more information for you in the new year on the website, on our Facebook page and on Twitter.
Last years event raised over £37,000, and was a fantastic day, bringing the total raised in the last 6 years to over £100,000.
We have plenty of pictures of the day on the website gallery (please get in touch if you'd like hi-res versions), and all the ProTracer videos we captured are also on the website.
If you are interested in getting a team together please let us know and we will put your name down.
We look forward to seeing you in 2018.
Win a bottle of Champagne!
To celebrate our 15th anniversary we have decided to hold a competition for a bit of fun!
Below is a fab picture of our gorgeous team from our anniversary photo shoot that made us all laugh in the office.
Your job is to come up with the best caption to go with the photo...the funnier the better! The winner will be posted a bottle of champers!
We are delighted to announce that this month CoCredo are celebrating 15th years in business!
From its small beginnings in back in 2002, CoCredo is now one of the country’s leading specialists in providing online company credit reports and related business information within the UK and overseas; located in Great Missenden, with offices based within the beautiful Missenden Abbey.
We would like to take this opportunity to say a huge thank you to all our customers and friends for helping us raise £810 for our Go Sober for October campaign.
Between us we got through an awards ceremony, a ball, a 40th birthday party and even a trip to Paris! So needless to say, we were pretty chuffed with ourselves.
CoCredo were proud to be invited to speak at the CCR conference earlier this month. Tim Wendholt, one of our Affinity Partners, spoke about international credit reporting, data and intelligence.
His presentation highlighted that diligence is key when working with locations outside of the UK. 70% of countries are not deemed low risk by the credit insurance market and corruption is growing. This is leading to credit insurers paying out more claims than ever.
We know that many of you have spoken to our lovely Emma in Customer Services but what you might not know is that she got married at the end of last month! She is now Mrs Irving. So here’s a little peek at how wonderful she looked (and her husband of course!) on the day. She and her husband had a wonderful honeymoon in Mauritius but now she’s back down to earth with a bang, helping to look after all of our lovely customers again! Welcome back Emma!
We’re proud to say that the team at CoCredo are still going strong with our Go Sober for October campaign in aid of Macmillan Cancer Support. So far between us we have gallantly made it through an awards ceremony, a Gala Ball, a 40th birthday and 2 weekends without touching a drop.
Any business owner will be aware that working with other businesses is not always easy, especially when invoices aren’t paid on time. Chasing money is both time consuming and stressful and is an issue that can be avoided if the right measures are put in place from the beginning.
Picture the scenario…you’re in a meeting with a potential client, about to make the sale of the century but you haven’t done your homework on the company. Although you want to sign them up there and then, there is a nagging feeling that you could be taking a huge risk.
A new warning has been issued about the growing risk of a “debt trap” if interest rates around the world stay near zero, which has encouraged borrowing by businesses, governments and consumers.
The Bank for International Settlements highlighted the vulnerability of business, government and consumer finances to interest rate increases in its quarterly report. Claudio Borio, the head of the monetary and economic department noted that since the financial crisis of 2007-08, global debt levels in relation to GDP had continued to go up, raising financial stability risks.
In follow up to our announcement in August, we are delighted to update you that some of our new data feeds are going live from the beginning of October. The first regions to move will be the UK and Europe. More countries will follow throughout October and November. Our technical team have been working tirelessly over the last few months to make sure that the switch over goes smoothly.
Have you heard the news? The team here at CoCredo are ditching the cocktails for capes, because we've signed up to be a Soberheros and Go Sober this October! That means, for 31 days in October, we’re going booze-free; jumping on the wagon; ditching the juice, and any other way you can say 'NO alcohol'!
Here we focus on Corporate Account Manager Lisa Boots
Lisa has been at CoCredo since October 2011 and came from the the PR industry working as an Office Manager. She was also a beauty therapist before that.
We are delighted to announce that we have been shortlisted as a finalist in this year’s CCR Credit Excellence Awards, in the Risk category.
We are thrilled with this outstanding achievement as according to the CCR there were many "very strong applications this year" - so to reach a short-list of only three finalists is even more of an honour.
As mentioned in last month's newsletter, CoCredo have been working on some exciting systems improvements which were due to take place at the end of this month.
In October 2016 we commissioned an on-going independent review of the current market and global data providers available. Based on these findings, we are bringing together a larger number of data sources to offer even better, more predictive reports for our customers with additional features (for both UK and international reporting).
According to official figures released earlier this month, the UK economy grew in line with expectations in the second three months of the year.
The Office for National Statistics (ONS) reported that Britain's GDP grew by 0.3% on a quarterly basis in the three months to the end of June. This in line with the first estimate released last month, which analysts expected to remain unchanged.
Vineesh Madaan from Bluestone Leasing has kindly talked to us about his experiences using CoCredo…
Bluestone Leasing are an award-winning team of service-focused finance and leasing professionals based in Wakefield; they are a long standing and valued customer of CoCredo. Dedicated to their business customers and channel partners they make things simple, move quickly, offer exceptional value and make funding happen where others can't.
There isn't much they haven't financed over the years but they do have some core asset classes where they are seen to be market leaders including technology (including IT and software) and furniture/fit out, or interior projects.
Here we focus on one of our newest members of the team... Josh Edwards.
Josh started CoCredo in May 2017 so is still a newbie. He previously worked in Customer Service with a hint of recruitment thrown in for good measure! He has joined the team as a Corporate Account Manager and is enjoying the CoCredo family vibe in the office. He loves the fact that there is never a dull moment and that he is constantly learning something new. Josh apparently makes a mean banana cake…something we are still waiting to try!
Reports have shown that late payment debt has declined over the last five years from SMEs being owed £30.2 billion decreasing to £14.2 billion. However, according to a study from Bacs Payment Schemes Limited, small businesses in the UK are still facing a bill of over £2 billion having to chase these overdue payments.
At the end of August (date to be announced) we are having a systems improvement. You may have seen in last month’s newsletter that we have been reviewing all suppliers for our business intelligence on a global scale. Instead of us having one single source of core data we are switching to a larger number of sources to offer an even better more rounded product for our customers with additional features (for both UK and international reporting).
We are delighted to welcome back Joanne Day to the CoCredo team. Jo has been on maternity leave since June last year and has come back into the new role of Partner Manager. Her role will involve working with existing partners and looking for new interested parties to join our Affinity Scheme. This programme is a partnership that enables trusted customers to earn a generous commission by introducing successful new business leads to CoCredo.
We are excited to announce that we have partnered with new providers for our Latin America and Asia Pacific Reports. In the past these reports have been presented in a basic 'text' format and one of our key goals was to source the raw data needed in order to produce reports that have the same look and feel that you can currently see in in our Western European reports.
We tested 4 providers and chose the one in each country that we felt offered the best quality data. We carried out a soft launch and the feedback we got from customers was fantastic.
We are looking to roll this out over the next few months for all our international reports from all over the world. We believe that this will ensure we offer our customers the best quality international reports on the market, country by country.
We will continue to look and monitor the best providers in each country in our on-going review. If you have any feedback on these reports please feel free to let us know. We love hearing from you about how we can improve our products and services.
We all understand the importance of running credit reports on companies we wish to do business with. We know that it’s one of the best ways to protect us from bad debt, but how often do we run a check on our own business?
Payment history accounts for part of your credit score - sometimes you may not even be aware that anything is amiss. Late payments can affect your score and in turn how credit decisions (such as loans) are made, this may also dictate whether people choose to do business with you.
29/06/2017: We will shortly be putting live new reports for businesses in Mexico, Thailand, Malaysia, Vietnam, Cambodia, Myanmar , Laos and Afganistan. These will be in a similar format to the reports we currently provide for businesses in Western Europe.
A report has shown that if interest rates rise, even by a small amount, 79,000 of UK businesses say they would be unable to repay their debts – this is according to new research by insolvency and restructuring trade body R3. This figure is almost four times the amount of businesses in the same situation in September 2016.
As of 31st July 2017, we are putting our marketing data service (CoData) on hold whilst we make some important adjustments to the system.
We want to offer our customers the best possible products, and in order to do this we need to carry out some work behind the scenes. We will be integrating new data feeds which will give you greater search functionality and improved outputs once the work is complete. The service will be unavailable for a few months and we will let you know when it is back up and running.
However, before we get to work on the system, we are giving all our customers a fantastic offer on data…
*** Marketing data half price until 31st July 2017***
The CoData marketing lists provide extensive business data including valuable company information containing business names, address details, telephone numbers, email addresses and contact names at a fantastic price.
So, if you were thinking of running a marketing campaign, now could be a great opportunity to get your data for a fraction of the price!
We are pleased to announce that this week we have launched some new updates to our site.
Our system is utilised by thousands of users every day, and we strive to listen to customer feedback and improve our service offering on a very regular basis.
We have put together a new system to handle customer data and references. This data can be viewed as an integral part of the any report to which the data is associated. We have also found that some customers have multiple references or data sets that need to be associated to a single business, so the new references system will now allow for this situation.
Figures released by the Registry Trust this month have revealed that the number of county court judgements (CCJs) against companies in England and Wales has dramatically increased during the first quarter of the year.
Registry Trust is the Registrar of Judgments, Orders and Fines in England and Wales (on behalf of the Ministry of Justice). Additionally, it collects, verifies and publishes judgment information from jurisdictions across the British Isles and Ireland. A judgment is unquestionable proof that debt that hasn’t been managed.
CoCredo were proud to be involved in the Forums International annual golf and archery event held on the 18th May. It was a fantastic day and a great chance to contribute and network with fellow professionals within the industry. The icing on the cake was MD Dan Hancocks being in the winning team for the golf tournament!
We are pleased to welcome new team members, Josh Edwards and Jane Bray to the CoCredo team.
Josh has come from a customer service and recruitment background and is very much looking forward to his new role as Corporate Account Manager.
Jane has worked in Marketing and PR for over 15 years in various sectors including technology, hotels and education and is looking forward to a new challenge as Marketing Manager at CoCredo.
CoCredo has once again been nominated for an award at the Bucks Business Awards. We have been very fortunate to have won at the annual ceremony previously, claiming Small Business of the Year in 2014 and both the Customer Service Team of the Year and Company of the Year in 2015.
Update 21/04/2017 - This year's golf day is already a huge success. All available spaces for teams have been sold and we even have a number of teams waiting in reserve incase anyone drops out. The response to our request for sponsors has also been very successful with most of the sponsorship opportunities now taken up. If you would like to get your brand associated with this event there are just five holes left that are available to sponsor.
Despite the UK's generally strong economy, the rise in wind-ups indicates many businesses still face cash flow difficulties, especially around crucial tax deadlines such as due dates for VAT or corporation tax bills. SMEs (small business enterprises) continue to be impacted, as they struggle to access traditional loans and overdrafts to cover peaks in cash flow. HMRC successfully obtained 2,065 winding-up orders in 2016, as opposed to 1,944 in 2015. When HMRC succeeds in acquiring a winding up order from a court the business concerned is forced to close, and its assets get liquidated to pay any outstanding tax bills.