PRINCETON, N.J. - National Information Bureau Ltd. has signed a five year deal giving it access to American Business Information's data base, which contains financial information on over 10 million U.S. businesses.
National Information Bureau will use the data base to help its clients limit risk by determining the creditworthiness of businesses to which the clients wish to sell products or services.
"Most people don't realize that over 60% of the businesses in the United States have less that five employees and that there are 100,000 new business startups and 100,000 business failures each month," said Bill Kerrey, vice president at American Business Information.
American Business Information is one of several commercial credit reporting services to which National Information Bureau clients have on- line access.
The data from these reporting services are provided in formats that vary according to the needs of various businesses.
Through National Information Bureau's software, known as the Business Analysis and Customer Approval System, routine credit decisions can be made automatically. Such decision aids can reduce the costs associated with purely manual credit analysis, National Information Bureau officials said.