Have you ever heard of a company called Dun & Bradstreet? They are 'sort' of like Experian for businesses - supposedly helping their subscribers to make credit decisions about suppliers. Recently a potential client of one of our company's ran a D&B report on our company. The score came back very low and the company scored a 7 on a 9 point scale of likeliness of failure. Ouch. I contacted D&B and asked them what the issue was. They indicated that they only had four of our vendors reporting payment history and one of them reported a 90 day late payment of $50. I was flabbergasted. They were publicly reporting that our business was likely to fail (7 out of 9) because one of four vendors indicated that we were late on a $50 invoice. The D&B rep indicated that I could pay approximately $400 and begin 'building' my report through a tool called Self Monitor. I paid the fee and began adding my vendors to the system.
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