Frequently Asked Questions
Who is CRiskCo?
CRiskCo is a credit risk analysis and management platform for SMBs and credit providers. CRiskCo offers a solution to the credit stress many small and medium business owners feel. Our platform simplifies the lending process and provides a credit score for businesses by analyzing accounting information and applying Artificial Intelligence (AI) and Machine Learning.
What do we do?
CRiskCo offers lenders an in-depth customer risk analysis, real-time credit insights, and unique business credit reports. These tools aid lenders in making the best decisions regarding loans and other credit vehicles. Moreover, our technology provides businesses a more efficient way to request loans from financial institutions through our easy “One-Click” onboarding process. This process creates an effortless customer experience for SMBs during a loan application process and maximizes their likelihood of receiving loans from lenders.
How does CRiskCo calculate its credit score?
CRiskCo has developed proprietary AI and Machine Learning models. We aggregate statistical data and extract trends to apply them to our machine learning research. This allows us to analyze a wide range of factors to better predict a business’s risk profile, ultimately expressed as a credit score.
How often does CRiskCo update its analytics?
CRiskCo’s analytics update in real time, so you can receive up to date insights on your business.
Are you collecting information about my personal credit history?
No, CRiskCo doesn’t access any personal credit reporting bureau. All our reports are prepared by CRiskCo using the business accounting data and our proprietary prediction models and do not take into consideration your personal credit score or credit history.
Are you collecting information about my business from credit bureaus?
No, CRiskCo doesn’t access any credit reporting bureau. All our reports are prepared by CRiskCo using your accounting data and our proprietary prediction models.
What information do I need to sign up?
The only information you need to connect to CRiskCo is your Accounting System or ERP login. This includes your email/username and password for your Accounting System or ERP.
What type of businesses can connect to CRiskCo?
Any type of business can connect to CRiskCo as long as they have an Accounting System or ERP.
I use QuickBooks, can I connect to CRiskCo?
Yes, whether you use QuickBooks Online or QuickBooks Desktop CRiskCo provides a seamless integration with your QuickBooks account.
I use Xero, can I connect to CRiskCo?
Yes, CRiskCo offers integration with Xero, allowing you to effortlessly connect your business.
How do I connect my Accounting System or ERP? How long is the process?
CRiskCo’s easy “One-Click” process allows you to connect your Accounting System or ERP to our platform. This process takes about a minute to share your financial data with CRiskCo. This replaces the traditional back and forth process of generating, reviewing and sending documents to your lender which often takes weeks. For more information, watch our CRiskCo tutorial on how easy our “One-Click” process is here
What is an ERP?
Enterprise Resource Planning (ERP) is often used to describe business management software. Typically used by organizations to collect, store, manage and interpret data across the entire organization. For instance, managing information on financial data, supply chain and inventory.
What is the difference between an Accounting System and ERP?
While often used interchangeably, Account Systems generally cover the specific needs related to the business’s financial management. For instance, invoices, banking and financial reporting. ERPs offer accounting functionality while also supporting business wide activities such as supply chain, contact management and logistical requirements.
Which Accounting Systems and ERPs do you support?
Currently, we’re connected to numerous Accounting Systems and ERPs, including QuickBooks online, QuickBooks Desktop, Sage 50, MYOB Essentials, MYOB AccountRight, Priority, and Xero. If your Accounting System or ERP is not shown on this list, CRiskCo allows you to upload documents through a CSV or Excel file.
Does CRiskCo save my Accounting System or ERP login details?
No, when you grant access to CRiskCo, you login directly to your Accounting System or ERP so CRiskCo never receives your login details.
How do I reset my password?
If you forget your password or need to reset it, when you try to log into CRiskCo’s platform, there is a “Forgot Your Password” button. Click on the button and you will be asked to input your email address. You will receive an email with further instructions to reset your password.
What are the benefits of connecting my financial data to CRiskCo?
We help banks understand you better through our detailed analytics, so that you can maximize your chances of receiving credit. Also, CRiskCo removes the hassle and saves you a tremendous amount of time creating, finding and sending documents with CRiskCo’s “One- Click” onboarding process.
How does CRiskCo remove the hassle of generating and sending reports?
When applying for a loan, the process of sending accounting information is manually intensive and takes up a lot of your time. With CRiskCo’s “One-Click” onboarding process, we do this entire process for you. Once you connect your Accounting System or ERP to CRiskCo’s platform, we provide the lender with all the necessary financial reports and information, leaving you to focus on running your business.
Can CRiskCo help me get a loan?
Yes, CRiskCo helps maximize your chance of being approved by providing detailed insights and information to lenders. CRiskCo also helps you save time on the loan application process and provides lenders with analytics to make a lending decision quicker.
What kind of information can I see and where can I see it?
Once you are logged in to CRiskCo’s platform, you can see your customers’ profiles, including your trading history with them, their outstanding balances, and the change over time. Also, you will receive access to CRiskCo’s analytics, including company’s KPIs, deposit analysis, profit and loss reports, and more.
What reports does CRiskCo provide?
CRiskCo provides detailed and insightful analytics for credit lenders, including financial KPIs, profit and loss reports, balance sheet statements, working capital analysis, and more.
What does CRiskCo do with my data?
CRiskCo retrieves your accounting data and standardizes it in order to provide detailed insights for lenders as part of your lending application. We do this by extracting statistical data to discover trends, and implement them in our machine learning research.
Is my data secure/private at all times?
Absolutely, it is CRiskCo’s top priority to keep your company’s financial data secure at all times. We only share data with the lender you allow us to share it with. CRiskCo will never send information without receiving your authorization.
Where is my data stored?
Your data is encrypted and kept safe on Microsoft Azure servers. CRiskCo has two separate servers, a US and an Australian server. Data from companies is stored on a specific server according to the market of the requested lender.
Do I have access to my data?
Yes, you can access your data on CRiskCo’s dashboard if you are still sharing your data with us. You can view detailed financial analytics on your company such as KPIs, customer exposure graphs, profit and loss statements, and more all on CRiskCo’s platform.
Who has access to my data?
Access to your data is only provided to the lender you requested a loan from via CRiskCo. We make sure that the only people who access your data are authorized by you. We will never send data to a lender without your permission first.