It's usually a good idea to know your personal credit scores as a customer. On the other hand, business owners MUST pay attention to their credit scores, such as the PAYDEX Score from Dun & Bradstreet (D&B). This credit score for businesses assesses your company's ability to make on-time payments. If your firm has a good PAYDEX Score, it could open the door to greater business ties that can help you grow.

What Is a PAYDEX Score?
The PAYDEX Score is a business credit score created by the corporate credit agency Dun & Bradstreet (D&B). It assesses how well your firm pays its vendors, suppliers, and other business partners. Scores vary from 0 to 100, with 0 indicating the greatest risk of late payment.

How the PAYDEX Score Works
While you may not be familiar with the PAYDEX Score, it is one of the more straightforward company credit scores to comprehend. There isn't much that goes into it compared to other forms of credit ratings, and it just assesses one tiny aspect of your business: how successfully you pay your suppliers and vendors.

How the PAYDEX Score Is Used
Here’s how different types of businesses you may work with using your PAYDEX Score:
* Landlords. Landlords may look at your business’s PAYDEX Score when deciding whether to let you lease a business location.
* Lenders. Lenders may also check your PAYDEX Score when deciding whether to approve you for a business loan or business credit card.
* Suppliers. Suppliers may check your business’s PAYDEX Score to see whether they can expect invoices to be paid back on time and determine what terms to extend to you.
When a new business is looking to work with you, it’ll often check your PAYDEX Score as a part of its due diligence. Anyone or any business can access your PAYDEX Score on the D&B website.

PAYDEX Score Ranges
Unlike your personal credit score, which varies from 300 to 850, the PAYDEX Score only goes from zero to one hundred. The higher the number, the better. The various levels in that range are listed below.

It's vital to note that on this scale, 80 is a substantial figure. If your PAYDEX Score is 80, you pay all of your supplier invoices on the due date, on average. A score of 80 or above indicates that you pay your bills on time on average. A score of less than 80 indicates that you pay your debts on average late, and the lower the score, the later the payment is expected to be.

As a result, most companies looking at your PAYDEX Score will like to see an 80 or above. This means that they’re more likely to be paid early or on time and won’t have to worry about chasing you down for late payments.

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