Understand BusinessIQ

Frequently Asked Questions

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Frequently asked questions

What is BusinessIQ?

If I already use an Experian commercial credit solution can I migrate onto BusinessIQ?

How do I open an account?

I am interested in talking to someone about BusinessIQ, how do I go about it?

How do I access BusinessIQ?

Is consultancy available?

If I buy BusinessIQ and then want to access other modules how quickly can that be turned on?

How can I add a module?

Where can I get technical help?

Where do you get your data from?

What data can I access through BusinessIQ?

What is included in a report?

What Limited Company reports are available?

What Non-Ltd Company reports are available?

Are international reports available?

Can I get a Director or Secretary Report?

Can I get reports on the people who run Non-Limited businesses?

What are Alerts?

What is Portfolio?

What is the difference between Portfolio and Portfolio Analysis?

What is the difference between Ledger Portfolio and Standard Portfolio

How frequently is Experian data refreshed?

How do I have risk data refreshed more frequently?

What is the BusinessIQ Collections module?

Can I use the Collections module?

What is the difference between DLS and the BusinessIQ Collections module?

How does DecisionIQ work?

Should I automate my decision making process?

What's the difference between DecisionIQ Standard, DecisionIQ Plus and DecisionIQ Premier?

How does BusinessIQ compare to other products on the market?

How much does BusinessIQ cost?

 

What is BusinessIQ?
BusinessIQ is an on-line tool which delivers solutions at every stage of the credit life cycle, right to your desktop.
The comprehensive nature of BusinessIQ, ensures that you have tools for taking on a new client, making credit decisions, automating credit applications, managing your portfolios of customers, receiving alerts and implementing collections activity.
It includes many additional features which are designed to create a single credit management portal, including audit trails, easy user configuration, a task manager, recording of notes, a configurable home page dashboard, report storage and more.
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If I already use an Experian commercial credit solution can I migrate onto BusinessIQ?
If you are already using an Experian solution we can help you understand the enhanced capability that can be gained through BusinessIQ and let you know the most appropriate package of modules so that you receive solutions consistent with what you are currently using.
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How do I open an account?
Please contact Experian Business Information using the contact details on the right.
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I am interested in talking to someone about BusinessIQ, how do I go about it?
If you are interested in knowing more about BusinessIQ and are an existing customer you can contact your account manager and they will give you all the information you need and a live demonstration. If you are not an existing customer of Experian then complete the form on the right and one of our credit consultants will phone you back or you can ring us on 0844 481 9920.
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How do I access BusinessIQ?
You do not need a certificate to access BusinessIQ just access to the internet. BusinessIQ is web based, take a look at BusinessIQ here
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Is consultancy available?
BusinessIQ's highly configurable and effective set-up will help you to deliver your business objectives. Consultancy support is available, from data analysis through to effective decision rule setting to maximise value and minimise risk. Please contact your Account Manager who will be able to assist with this.
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If I buy BusinessIQ and then want to access other modules how quickly can that be turned on?
Again this is a relatively quick process after talking to a credit consultant or your account manager our team will add the relevant modules and let you know when the additional functionality is available.
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How can I add a module?
If your business needs access to additional modules, then your Account Manager will be able to assist. If you need access to a module needed for your role, please contact the Super User in your own business.
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Where can I get technical help?
Technical help is available by contacting 0844 481 9920.
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Where do you get your data from?
Data is sourced from a number of trusted sources, including Companies House and other third parties.
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What data can I access through BusinessIQ?
BusinessIQ is powered by Experian data which is a unique blend of business, consumer, director and payment information but you can choose the kind of data and report you access. With the Report manager module you can access previously pulled reports and decisions so you can review and audit all past activity for a business.
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What is included in a report?
There are a number of different reports available and each provides different information.
For example, the Risk Report is available for Limited Companies and Non Limited businesses and includes a dashboard of key information (such as the Experian DBT and Commercial Delphi Score) as well as detailed information such as such company accounts and key ratios (for Limited Companies). The Directors and Secretaries Report includes information on businesses which the Director is associated with and can optionally include consumer information.
For more details on the full range of reports and the information included, please contact Experian on 0844 481 9920
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What Limited Company reports are available?
The range of reports available through BusinessIQ is dependent upon your configuration and includes the Risk Report, which gives comprehensive information and insights on a business; Corporate Tree, which show the company in a corporate hierarchy and Corporate Tree with Risk, which also shows the Commercial Delphi score for each company in the Corporate tree.
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What Non-Ltd Company reports are available?
The reports available through BusinessIQ are dependent upon the configuration of BusinessIQ and include the Risk Report, Proprietors Report and Business Owners.
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Are international reports available?
International business reports are available and the content within the report is specific to the information available within that country. In addition to International reports, other documents are available, including Annual Returns, Memorandum and Articles, Charges and Mortgages, Financial Statements, Registry Extracts, Certificate of Good Standing and Certificates of Incorporation.
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Can I get a Director or Secretary Report?
It is possible to pull a report on the individual Directors and Secretaries and to include the consumer details to assist when making credit decisions.
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Can I get reports on the people who run Non-Limited businesses?
At the Product Selection Page, choose Business Owners Report or when pulling a Risk Report, the consumer details can be included.
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What are Alerts?
Alerts are messages that bring important events to your attention and they are available for Limited Companies and Non Limited Businesses. Alerts are early warning signs that may require pro-active to be taken with a customer.

The range of messages available is very comprehensive and some examples include legal notices (such as a Notice of Appointment of Receiver or an Administration Order), notices concerning County Court Judgments (such as the registration of a Judgment), a change to the number of days in which creditors are paid or an increase/decrease to the Commercial Delphi score.

The User Guide shows the full list of Alerts available and how the Alerts can be configured to ensure how Alerts can be configured to deliver those which are important to the business.
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What is Portfolio?
Portfolio is the Portfolio Management module of Experian BusinessIQ. You can use the Portfolio module to gain insight into the risk profile and payment behaviours of businesses that you are interested in (customers, suppliers or prospects).
Use the powerful segmentation and filtering capability to form management strategies and create and allocate tasks using the workflow capability.
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What is the difference between Portfolio and Portfolio Analysis?
The Portfolio module allows you the view information at portfolio and individual account level and provides the functionality to segment your portfolio and create management strategies.
Portfolio Analysis is an optional enhancement to the Portfolio module which provides detailed analysis of portfolios and displays this in an easy to use graphical display. Portfolio Analysis allows you to see key trends within your Portfolio at a glance and provides direct links to lists of accounts creating the trends.
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What is the difference between a Ledger Portfolio and a Standard Portfolio?
Standard Portfolios are created from activity within BusinessIQ. e.g. Purchasing reports, accepting decisions and uploading accounts using the account upload tool.Standard Portfolios do not contain payment information (sales ledger information).

Ledger Portfolios contain sales ledger data. This portfolio type is only available to those clients who share data with Experian as part of our data sharing scheme. Ledger Portfolios contain account level payment information and allows users to complete more detailed analysis of their portfolio such as comparing how clients pay your business with how they pay other suppliers. Ledger Portfolios contain additional data fields not available in Standard Portfolios. e.g. Account level Days Beyond Terms that are not available in Standard Portfolios.
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How frequently is Experian data refreshed?
Choose how frequently you would like Experian data refreshed within your portfolios. Data can be refreshed as frequently as daily. Alternatively, use the Batch Account Review function within Account Actions to trigger refreshes on the accounts you want updated, when you want them updated.
Payment information supplied through our data sharing program will be updated as frequently as each sales ledger is provided to Experian.
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How do I have risk data refreshed more frequently?
You can choose to manually request accounts to be updated through Batch Account Review or you can opt for Daily Refreshes as part for your BusinessIQ subscription.
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What is the BusinessIQ Collections module?
The Collections Module enables users to generate Experian Branded Letters that encourage payments from delinquent accounts, by reminding them of the implications of poor payment behaviour on their credit rating.
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Can I use the Collections module?
The Collections module is available to members of one of the Experian Data Sharing Schemes (Payment Performance or Commercial CAIS).
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What is the difference between DLS and the BusinessIQ Collections module?
The BusinessIQ Collections module offers enhanced functionality to the delinquency letter service, giving greater control of campaigns. Users will be able to:

  • Select accounts from their portfolios.
  • Upload new account lists for their campaigns.
  • View PDF samples of their letters and then approve these.

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How does DecisionIQ work?
DecisionIQ creates a credit policy driven by your business's experience and risk tolerance combined with our information and analytics. DecisionIQ has three levels that, when combined, create a credit policy and automated decisioning:

  • Decision Tree - Establish a decision tree and score breakpoints for approve, review and decline decisions.
  • Exception review - Designate that when a condition is present, the customer being reviewed automatically will be approved, reviewed or declined, no matter what the score.
  • Credit Limit - Select a credit limit policy: conservative, aggressive or moderate.

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Should I automate my decision making process?
Automating customer acquisition can be a big step for companies but BusinessIQ offers three levels of automation based on your needs so you can choose a simple decision solution right through to complex decision making that includes information provided by the customer.
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What's the difference between DecisionIQ Standard, DecisionIQ Plus and DecisionIQ Premier?
DecisionIQ Standard
is the basic decisioning module that lets you make automated decisions based on bureau data and industry specific decision trees. You can also set a limited number of exclusion rules.

DecisionIQ Plus introduces custom credit rules that you can configure using 54 data attributes. This provides greater flexibility for you to recreate your businesses credit policy in an automated fashion. You can also set bespoke credit limits.

DecisionIQ Premier adds the ability to customise an application so decisions can be made on non-bureau data. The application can be hosted on a web page to outsource the completion to end-users, with the completed application being submitted to DIQ.
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How does BusinessIQ compare to other products on the market?
We have made it easier for you to understand what BusinessIQ offers compared to other products on the market so you can make the most informed decision on what is best for your business.

BusinessIQ offers :-

  • Access to blended (business, consumer, director and payment) data for greater insight and predictability.
  • One platform to manage the entire customer lifecycle from acquisition to customer and portfolio management and collections.
  • Automated decision making to drive efficiency

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How much does BusinessIQ cost?
Pricing depends on how many reports you need to access and any extra modules you take. A credit consultant will be able to take you through the pricing options available based on your business needs so either complete the form on the right or call us on 0844 481 9920
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