Posts Tagged ‘Reporting’
February 20, 2015 | 
Author Consumer Credit Reporting Services Procurement Category Market Research Report from IBISWorld has Been Updated
Los Angeles, CA (PRWEB) February 13, 2015
Consumer credit reporting services have a buyer power score of 3.4 out of 5, which reflects moderate negotiating strength for buyers. Demand for consumer credit reporting services has been rising in line with the recovering economy and growing borrowing activity by consumers. “Over the three years to 2014, buyers have continued to rely on vendors to gather and distribute historical credit information,” says IBISWorld procurement analyst Kiera Outlaw. “The ongoing need to evaluate consumer credit, coupled with easier access to credit, increasing aggregate household debt and strengthening consumer spending has been causing service prices to rise.” Prices are forecast to rise further in the three years to 2017. Although rising service prices have hurt buyers’ purchasing power, buyers have been benefiting from a low level of price volatility during the recent period.
The consumer credit reporting services market is moderately concentrated, with Equifax, Experian and TransUnion holding the majority of total market revenue due to their massive data networks and inter-bureau reporting arrangements. These major consumer credit reporting firms have also started to offer business credit reports and other related support services to expand their competitive positions. Nevertheless, the growing adoption of online credit reporting platforms has made it easier for other vendors to enter the market, including a number of specialty firms that focus on reporting nontraditional credit data. “Suppliers can obtain high profit margins in this market, presenting some opportunity for buyers to negotiate lower prices, particularly when bundling multiple services from a single supplier,” adds Outlaw.
Buyers face a mixture of risks and opportunities throughout the purchasing process. As a result, buyer negotiation power is negatively impacted by the lack of viable substitutes and switching costs that can arise due to a moderate level of service specialization. Alternatively, buyers benefit from a low total cost of ownership, short buying lead time, low supply chain risk and minimal chance of vendor default. For more information, visit IBISWorld’s Consumer Credit Reporting Services procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of consumer credit reporting services. Vendors in this market provide objective reports on each consumer’s credit history, which buyers can use to make informed business decisions. Insurance companies, human resources departments, property managers and institutional creditors request consumer credit reports. Individual consumers also purchase reports to evaluate their own credit standing and to address potential data errors. Consumer credit reports usually generate a score based on a consumer’s timeliness of payments, level of debt, credit history length and other relevant information sourced from public records. This report excludes credit counseling and credit card services.
Executive Summary
Pricing Environment
Price Fundamentals
Benchmark Price
Pricing Model
Price Drivers
Recent Price Trend
Price Forecast
Product Characteristics
Product Life Cycle
Total Cost of Ownership
Product Specialization
Substitute Goods
Regulation
Quality Control
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Imports
Competitive Environment
Market Share Concentration
Market Profitability
Switching Costs
Purchasing Process
Buying Basics
Buying Lead Time
Selection Process
Key RFP Elements
Negotiation Questions
Buyer Power Factors
Key Statistics
About IBISWorld Inc.
IBISWorld is one of the world’s leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
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Vizor Simplifies FATCA and AEOI Reporting Obligations for Tax Authorities
Ottawa, Canada (PRWEB) January 22, 2015
Vizor, the leading regulatory supervision software provider, today introduced new features that help Tax Authorities meet their Foreign Account Tax Compliance Act (FATCA) obligations as well as provide support for Automated Exchange of Information (AEOI) with one, out of the box solution. Chief among these is the ability to automatically exchange information with the 98 other jurisdictions becoming operational in 2016 and beyond.
“The US is just the first jurisdiction requiring Foreign Financial Institutions (FFIs) to report client account information, similar laws are already being passed in China, the U.K. and in other countries all over the world” said Conor Crowley, Managing Director and Co founder of Vizor, the provider of Vizor for FATCA & AEOI. “Tax Authorities that do not implement a fully-automated technical solution to comply with the OECD’s global standard for AEOI are going to find themselves continually pulled away from their primary functions, and spending more and more money, as system maintenance quickly becomes overwhelming.”
Vizor for FATCA and AEOI Feature Highlights:
Financial Institution self-registration and account creation.
Tax Authority monitoring and approval workflow for Financial Institution registration.
Financial Institution upload facility for FATCA and CRS data in XML format, as well as manual data entry via web forms for smaller and less sophisticated FIs.
Extensive validation of FATCA and CRS data, including validation against XML schema, validation against account information, GIIN validation, and many additional business rules such as those specified in the “FATCA XML version 1.1 User Guide”.
Configuration options for running in “fully automated” mode so that little or no manual interaction with the system is required for the Tax Authority.
Localization support including right to left languages such as Arabic.
Integration with existing data, such as a domestic taxpayer database to enable record matching.
New Features Provide Significant Benefits to Tax Authorities:
Meet Commitments: Meet FATCA and future AEOI commitments with one, out-of-the-box solution.
Reduce Costs: Vizor for FATCA is a cost-effective solution for Tax Authorities – most solutions built in-house significantly underestimate scope, cost, and complexity.
Save Time: Vizor’s solution can be implemented quickly and efficiently allowing Tax Authorities to easily meet FATCA timelines and deadlines.
Peace of Mind: Vizor Software is proven, secure and trusted technology, implemented across the globe for the collection of highly sensitive data from Financial Institutions.
Operational Efficiency: The Vizor solution can operate in a ‘fully automated mode’ requiring minimal manual intervention, guaranteeing resources are free to focus on core business priorities.
Vizor also offers a free, live, online, tailored demonstration of the software. To learn more about Vizor for FATCA & AEOI and review all of the new features, visit the Vizor website, and follow Vizor on Twitter and LinkedIn.
About Vizor
Since 2000 Vizor Software has been the standard for financial regulatory technology. Leading the way in regulatory supervision software, Vizor is trusted by Central Banks and Financial Regulators from around the globe for the collection and validation of highly complex data from Financial Institutions. Serving the needs of financial regulators in more than 20 countries, Vizor is a trusted partner of large consulting firms and leading XBRL toolset providers. Employing a collaborative, agile approach to implementing regulatory solutions, Vizor simplifies and strengthens financial regulation systems. You can learn more and visit Vizor at http://www.vizorsoftware.com or by following Vizor on Twitter, LinkedIn, Google+ and Pinterest.
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©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Posted in Foreign Exchange | 
Tags: AEOI, authorities, FATCA, Obligations, Reporting, Simplifies, Vizor | 
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Statman, Harris & Eyrich, LLC Announces Investigation into Credit Reporting Agencies’ Practices in Correcting Errors in Consumer Reports
Cincinnati, Ohio (PRWEB) August 25, 2012
The law firm of Statman, Harris & Eyrich, LLC announces an investigation on behalf of consumers into the activity of credit reporting agencies in connection with the agencies’ practices in timely correcting errors in consumers’ credit reports. Credit reporting agencies such as Equifax, Experian®, and TransUnion® track consumer credit history and payment records and analyze the information to determine the risks posed by extending credit to the consumer for any kind of loan. Additionally, credit reports may impact eligibility for rental housing, the amount of deposits required for utility or telephone service, and premiums for auto or homeowners’ insurance. Pursuant to the Fair Credit Reporting Act (FCRA) 15 U.S.C. § 1681 et seq., credit reporting agencies have, in general, thirty days to correct errors on consumer reports.
Specifically, the investigation focuses on problems consumers encounter in trying to resolve disputes about the information contained in their credit reports. Reported information includes financial credit history, civil judgments, liens, and bankruptcies. According to remarks made by Richard Cordray, Director of the Consumer Financial Protection Bureau, on July 16, 2012 during a field hearing in Detroit, Michigan, “the collateral consequences of mistakes can greatly harm consumers. The wrong information may cause them to be denied a loan, to be charged a much higher interest rate, or to be passed over for a job, causing them serious economic hardship.”
Individuals who have been denied credit, denied credit on favorable terms, or suffered other economic hardship due to the failure of a credit reporting agency to timely correct credit reporting errors who wish to discuss this investigation with an attorney, are encouraged to contact Jeffrey P. Harris, Esq. at (513) 345-8181 or via e-mail at jharris(at)statmanharris(dot)com for further information without any obligation or cost.
Statman, Harris & Eyrich, LLC, which has significant experience in complex litigation, including consumer and securities fraud class actions and derivative litigation, has offices in Chicago, Illinois; Cincinnati, Ohio; Dayton, Ohio; and Sarasota, Florida. http://www.statmanharris.com Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Statman, Harris & Eyrich, LLC
Jeffrey P. Harris, Esq.
441 Vine Street, Suite 3700
Cincinnati, Ohio 45202
Phone: (513) 345-8181
E-mail: jharris(at)statmanharris(dot)com
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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Posted in Derivatives | Tags: Agencies, Announces, Consumer, Correcting, Credit, Errors, Eyrich, Harris, into, Investigation, Practices, Reporting, Reports, Statman | 3 Comments »