What other sources of credit information are there with Laura Humphries and Philip King FCICM

In this episode of "Minimise Debt, Maximise Cash with Top Service," Emma Riley, CEO of Top Service and the 2025 Credit Professional of the Year , introduces a discussion between Laura Humphries, Head of Customer Development, and Phillip King, Non-Executive Director. They explore how various sources of information, beyond traditional credit reference agencies, can be invaluable when assessing credit risk. Laura emphasizes that a company's past payment behavior, such as consistent late payments, frequent disputes, or difficulty in communication, can be an early indicator of future challenges. Phillip adds that keeping an eye on your own ledger provides a great guide. They also highlight the importance of "local intelligence" and industry rumours, which can often contain factual insights, especially when dealing with local businesses or in the construction sector. The discussion touches on the increasing use of social media for complaints about poor business behavior and how this can be used to influence larger companies. Salespeople are also noted as valuable sources of information regarding new contracts, staff changes, or layoffs within a company, providing crucial insights to complement other data. Phillip mentions "Good Business Pay," a website where large companies' payment performance is reported every six months, noting that deteriorating payment trends are strongly linked to business failure.  Laura concludes by inviting interested listeners to visit the Top Service website and click "Join Us" to access their credit reports and trade experiences. Emma Reilly encourages listeners with further questions to contact Top Service Limited on LinkedIn or check out the video version of the podcast on their YouTube channel for more tips on maximising cash and minimising debt in the construction industry To enquire about Top Service services for your Business, go to https://www.top-service.co.uk/contact-us/ Music by Purple PlanetRead transcript