Atlantica - 01.06.2004, Blaðsíða 61

58 A T L A N T I C A
ATLANTICA BUSINESS SECTION
Lánstraust Ltd. is a credit and business
information company owned by banks and
financial institutions. Clients are both
Icelandic and international. The companies
using the Lánstraust Ltd. systems and ser-
vices gain access to objective and updated
information regarding the credit situation
of individuals and businesses, on the com-
pany’s website (www.lt.is) or through web-
services. One of the more successful prod-
ucts which Lánstraust Ltd. offers to its inter-
national clients are credit reports called
Icecredit reports. Information in these
reports is obtained from various sources,
and is also based on interviews with the
data subject. The report is comprehensive
and contains information about e.g. the
following:
◆ LT-Credit Score, a mathematical model
that estimates the likelihood
of insolvency
◆ Credit history
◆ Shareholders and subsidiaries
◆ Board members and key managers
◆ Default loan history and management
history of key board members
and directors
◆ The type of activity conducted
◆ Import and export countries
◆ Estimated number of clients
◆ Figures from the last five annual
reports, where applicable, as well
as pre-calculated performance ratios
for those same years
◆ And more
Information is the key to success
Decisions based on objective information
when it comes to accepting new customers
and credit are much more likely to result in
a healthy and profitable long term rela-
tionship than if you randomly accept to
grant credit or not. By having only the “cor-
rect” customers you can focus on giving
them the best possible service and nurture
the relationship. According to sales and ser-
vice department manager Sigurður E. Levy,
it is also vital to monitor customer during
their time as debtors. “The situation can
change fast, even the most stable compa-
nies can run into problems that you want
to know of. It is very important to receive
such information as soon as possible in
order to be able to take preventative
action. Systematic use of the Lánstraust Ltd.
information system reduces write-offs and
increases cash flow”. These services are use-
ful for all companies that give credit on
products, services or goods. There are three
phases of lending: Decision, Monitoring
and Debt Collection. Obviously the quality
of the third phase will improve if the qual-
ity of the first two phases is good. Informed
decisions are therefore the key to success.
The services of Lánstraust Ltd. are suitable
for companies situated anywhere in the
world who conduct business with Icelandic
companies or are thinking of doing so.
Information from Lánstraust Ltd. improves
decision-making and increases safety in
business. At a time when companies are
forming new policies and restructuring
work methods, all those doing business on
the Icelandic market should pay attention
to the services of Lánstraust Ltd.
Preventive financial measures are a step
towards better results.
The associate company of Lánstraust Ltd.,
Credit info Group Ltd., has subsidiaries in
Malta, Cyprus, Lithuania and Rumania.
The subsidiaries offer comparative services
to Lánstraust Ltd. in each market.
Lánstraust Ltd. provides an all-round
information service
BY ANNA MARGRÉT BJÖRNSSON
MINIMIZING BUSINESS RISKS
Sigurdur E. Levy, Sales and Service Director of Lánstraust Ltd.
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