ProfitGuard expands services to paper and plastics recycling businesses

ProfitGuard (PG), Bingham Farms, Michigan, a provider of business credit information to the metals and manufacturing industry, has launched its Specialty Division for its credit reporting and risk management service. The new division will focus on industries that are closely aligned with PG’s current business model and niche credit reporting capabilities, including paper and plastics recycling, plastics, chemicals and other related concerns.

The expansion will leverage the latest technology and PG’s exclusive credit network, which the company says brings trade payment contributors in each industry sector together and provides credit risk management tools and information along with enhanced risk monitoring.

“The best credit decisions are made with objective information reviewed by an experienced eye,” Jason Dworin, director of PG, says. “Our platform harnesses the power of these items into one system, making credit decisions more effective than ever.”.

PG’s credit management platform is designed to provide a start-to-finish credit risk management solution, according to the company:

• PG virtual credit networks – An exclusive network of suppliers can communicate on their common customers, within anti-trust compliance, to provide credit insight to one another while also viewing their respective trade data in real-time.
• PG Score – PG’s proprietary default score predicts the likelihood of a customer experiencing a default or insolvency within the next 12 months.
• PQI Score – A score that integrates industry payment information into PG’s platform. The PQI, developed by Credit2B in partnership with PG’s credit network, is described by the company as “a highly predictive score based on a weighted payment trend scoring index and predicts the probability of prompt payment.”
• Ask an analyst – PG’s analysts are accessible through the company’s platform to answer customers’ questions on credit decisions, their customers or to provide other insights.
• Risk monitoring – Active risk monitoring by PG’s team of analysts, allowing users to stay abreast of customer risk. Passive risk monitoring is offered free to all trade contributors.

"In today’s credit environment, when making a tough credit decision, the human insight adds a tremendous amount of value to our client’s credit decision process,” David Gibson, PG chief operating officer, says.

The pandemic and the resulting credit crisis have changed credit management, according to the company. Bobby Soper, PG vice president and senior analyst, says, “Today, timely information is more important than ever. You cannot rely on financials that were considered current just six months ago. PG provides its clients with the tools they need to safely navigate credit risk in a fluid credit environment.”