Cortera Rated Higher than Competitors in Perceived Value According to Industry Survey
BOCA RATON, Fla., Jan. 15, 2013 – Cortera®, a provider of comprehensive business-to-business payment and purchase data and insights for U.S. companies, recently scored top ratings in the Credit Today Benchmarking Survey which compared leading credit information suppliers based on percent of budget and perceived value. Cortera ranked third in the “Perceived Value per Dollar Spent” category.
According to the Credit Today Benchmarking Survey, credit professionals are receptive to alternative sources of credit information instead of relying on the traditional credit bureaus. In fact, many companies already have defected from the industry market leaders. From 2011 to 2012, a major credit bureau vendor experienced a 19 percent decline in their share of wallet. Cortera, in turn, gained a foothold during this period.
Survey findings also revealed that more credit professionals believe the value of credit information is increasing. In a comparison of vendors based on “value of service per dollar spent,” respondents rated Cortera with a higher score than the current market leader.
“Executives no longer view the status quo as the best or only option to deliver insights and value,” said Jim Swift, Cortera president and CEO. “They realize that innovation and a comprehensive view of credit is far more important than simply selecting a company based on its history or name recognition.”
A number of survey respondents are changing how they access and use credit data from leveraging credit industry group data to using multiple tools and services for reports.