Margin test

                      You’re sitting at home thinking about opening up a new business…maybe you’re just planning on relocating an existing office…or maybe you’re looking to do business with a new vendor. Whatever the situation may be, you have to ask the question, which cities are primed for new business opportunity? Where are businesses performing at a high level? Are businesses in City A paying their bills faster than City B? To help answer those questions and more, Experian released its new quarterly Metro Business Pulse analysis on the top metropolitan areas based on business credit data. The analysis focuses on the top 25th percentile of metropolitan areas based on the number of businesses in major industry groups, and looks at four leading indicators of business health including risk score, days beyond term (DBT), delinquency and bankruptcy. • Risk Score — We used our proprietary commercial risk score, which is based on a scale of 1 to 100 (with 100 being least risky) and predicts the likelihood of severe delinquency (more than 91 days past due) within the next 12 months • Days Beyond Terms — The weighted average number of days that businesses paid their bills beyond the contracted terms. • Delinquency — The average percentage of dollars that are considered delinquent or past due. • Bankruptcy — The average rate of businesses filing for legal protection under Chapters 7, 11, 13 or 15 of the bankruptcy code. According to the Q1 2013 analysis, Omaha, NE tops the list of DBT, paying their bills the fastest, with businesses in that area paying an average of 4.75 days beyond contracted terms, followed by San Francisco, Rochester, NY, Salt Lake City and Milwaukee to round out the top five. On the flip side, Florida metro areas are taking considerably longer to pay, having made up four of the bottom five in this category with Miami businesses being the slowest to pay. However, all is not bleak in Miami, as businesses in that area had the fifth lowest bankruptcy rate at 0.43 percent. Businesses in New York City topped the list with the lowest bankruptcy rate in Q1, followed by Nassau-Suffolk, NY, Baton Rouge, LA and Honolulu to make up the remaining top five. To view the full analysis, check out our Metro Business Pulse website. For more information on this report and other business-related insights, visit Experian.com/b2b.

The past several years have been somewhat of an uphill climb for our country’s economy and this has impacted the default rates for consumer credit. However, now that we’re out of the recession, consumers are managing their credit back to pre-recession levels. In June 2013, the S&P/Experian Consumer Credit Default Indices, a monthly comprehensive measure of changes in consumer credit defaults, showed that default rates have fallen at a national level, as well as, in all four major buckets it tracks including, bankcard, auto, first mortgage and second mortgage. Additionally, the national composite and first mortgage defaults rates hit new post-recession lows at 1.34 percent and 1.23 percent, respectively. Also, two of the five cities the indices focus on, New York and Miami, both saw decreases in default rates during the month. The other three cities, Chicago, Dallas and Los Angeles all saw marginal increases in June. However, all five cities remain below their levels a year ago. To view the full press release, visit http://bit.ly/14WuRzx.

A recent study conducted by the Governing Institute and commissioned by Experian confirms that government benefit agencies can greatly improve their eligibility verification processes through automated data analytics. Historically, assorted health and human service programs have been compartmentalized, with each benefit agency having its own data collection system, eligibility requirements and program rules. The technology to streamline processing by allowing one agency to match its data against other content repositories, though available, has not been in place. The result has been frequent re-entry of information causing processing delays, slowing response time and increasing manual labor costs. These shortcomings have limited agencies’ ability to detect and combat fraud. The Governing Institute survey of 150 state and local government leaders shows several areas of concern for benefit agencies. Notably, those surveyed cited a need to validate applicant information and the desire for reliable fraud detection and prevention tools. Nearly 70 percent of respondents cited the need for improved accuracy of their eligibility decision-making, and almost 60 percent of respondents believed that false income reporting was seen as the greatest cause of fraud. The study also found that while only 70 percent of benefit agencies report currently verifying information, even fewer re-verify an applicant once they are in the system. Yet, 88 percent of respondents described eligibility verification as either “very important” or “one of the most important” issues they face. And more than half the government officials responding (53 percent) believe that the issue of eligibility fraud will increase in importance to their agency over the next two years. The Governing Institute survey highlights the fact that benefit-eligibility verification is still in its early adoption stage. “A number of technology controls can help improve the fraud situation,” the analysts found. “These include fraud detection and monitoring.” However, a mere 26 percent of respondents are currently taking advantage of these types of systems.   The research points out the many obstacles agencies face when attempting to combat abuse. In addition to insufficient resources (budget and personnel), respondents cited difficulty integrating data from multiple sources and inadequate fraud-detection tools as the greatest hurdles to preventing eligibility fraud. According to the survey, 67 percent of respondents said they were either concerned or very concerned about fraud affecting their organizations and the programs they steward. Check out the results of the eligibility verification study and learn more about Experian’s Eligibility Assurance Framework solution.

Experian Consumer Services (ECS) was recognized as the winner of the "Best in Class Call Center" category at the industry-leading Call Center Excellence Awards at the recent Call Center Week's Awards Luncheon. The winners were announced by CustomerManagementIQ.com, a division of the International Quality & Productivity Center (IQPC), in front of 1,200 customer service executives at the 14th Annual Call Center Week, the largest, most comprehensive call center event in the world. The Experian Consumer Services call center is comprised of hundreds of employees who deliver a personalized experience assisting customers with credit- and identity theft-related issues. The center is built on the philosophy of E3: Exceptional Experiences Every time, which allows the team to retain internal and external customers, attract large partners and drive continuous improvement at every touch-point. E3 is woven through everything Experian Consumer Services does, including hiring, training, policies, procedures, corrective action, recognition and rewards. ECS understands that loyal and happy employees make loyal and happy customers. Its vision for all of its contact centers is to continue to be a great place to work and the employer of choice in its communities. The ECS approach to call center strategy is not necessarily proof that “Culture trumps Strategy,” rather it’s the understanding that culture and strategy are interrelated. Treat your people right, engage them, educate them and they will in turn perform their best for the company and do what is right for the customer. "We would like to thank the International Quality & Productivity Center for this award and recognition of our team's commitment to providing the best possible service to our customers," said Doug Sash, senior vice president of customer engagement for Experian Consumer Services. "Our customer care representatives use their knowledge and skills to create an exceptional and valuable experience for each member who calls."

Summer officially arrives on June 21. The busiest travel season of the year is on the horizon, and freecreditscore.com™ wants to help travelers mitigate post-vacation credit debt that can impact their credit long after a vacation ends. Here are five tips to avoid the pitfalls of a post-vacation credit sunburn:                                                   Save early. Each month, put away a small amount toward a vacation to avoid charging all travel expenses on a credit card. Charging all travel expenses to a credit card can take a long time to pay off, accruing interest and raising your credit utilization ratio (which isn't good for your credit score). Know credit card payment dates. Missing payments hurts your credit score. Traveling when a credit card payment is due? Set up a payment ahead of time using mobile banking. That way, even when lounging on the beach, you can rest assured that your credit card payment is made on time. Paying off credit card balances on time will help you establish a good payment history. Select a card with travel benefits. Planning to do a lot of traveling? Do some research and consider switching to a credit card that offers better travel-related rewards that can save money on airfare, hotels and car rentals. Don't run up a credit balance just for points, however; that could raise your credit utilization ratio. Go old school. Bring traveler's checks. Use traveler's checks to avoid relying on a credit card when vacationing abroad – and to protect against credit card theft. They're replaceable, convenient and won't impact your credit report if stolen. Check your credit before and after travel. Approach credit proactively. Check your credit report before and after a trip. If your identity has been compromised while you were traveling, the sooner suspicious or fraudulent activity is detected, the sooner you can take action to resolve the problem. Staying on top of your credit score as part of overall credit understanding is important. freecreditscore.com provides quick, easy and inexpensive access to personal credit scores, daily credit report monitoring, alerts to key changes and educational materials. It also features its innovative Score Planner, which is free to both members and nonmembers. To learn more about creditworthiness, visit freecreditscore.com.