Unlock Your Business Potential with a Payex Score
Understanding the Payex Score
- Payex Score is a rating that goes from 0 to 100.
- A score between 80 to 100 indicates that you pay your bills on time or even sooner.
- If you pay your bills later than the due date, your Payex score drops from 79 down to 0.
Generating a Payex Score
- You can generate a Payex score by working with 4 or 5 vendors who provide supplies or services to your business.
- These vendors will give you the supplies upfront and provide you with a certain number of days to pay the bill.
- The data collected by these vendors is then reported to Dun & Bradstreet, a business data collection company, which determines your Payex score.
The Importance of Payex Score
- Your Payex score is focused on trade credit or vendor credit, not on capital funding.
- It reflects your ability to obtain credit for supplies rather than capital.
By understanding and building a strong Payex score, you can unlock new opportunities for your business and demonstrate your creditworthiness to potential vendors and suppliers.
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