With ever-growing cases of reputational damage and fraud, company search is becoming a core business operation. In 2018, financial fraud cost firms almost £93 million, according to UK Finance. Checking all sorts of data on companies - from basic information to extensive checks - is vital to make decisions and avoid risks.
If you want to be sure about the client or counterparty, conduct proper research.
Search Business and Find Out Details That Matter
The volume of information is not always a key to success when it comes to company search. Here are some aspects to consider:
- You want a search tool that can provide the broadness and complexity of the data you look for. In other words, your engine should promptly find the most accurate information for your queries.
- All sources provided should be accurate, up-to-date, and trustworthy. Businesses cannot rely on fake news or unverified figures in decision-making.
- As the volume of information grows every hour, you want a tool that can filter out the “noise”. The results you get should be delivered in a format that is convenient to work with and analyse. Finding the sources is only the tip of the iceberg. But to make an impact, business requires to approach data holistically.
Luckily, there are high-end search facilities and solutions that provide prompt and comprehensive reports on companies.
Why Is It Important to Know the Company’s Background?
Searching for collaborations, and working with clients and counterparties is extremely risky without a proper background check and business intelligence. Information is key to finding the best decisions for your company and business growth.
Here are some risks you can avoid with proper research:
- Cooperation with companies that have hidden assets or links to questionable personas and businesses.
- Missing out on competitors and industry changes.
- Losing potentially productive collaborations with new partners, counterparties, vendors, etc.
- Losing profit due to a disadvantageous contract.
- Facing trial or getting involved in judicial proceedings.
EU and UK company searches provide you with valuable insights to find legitimate companies and take informed business decisions.
Instant Search of Company Information
Service LIGA UNITED includes a range of features to conduct company searches in the UK and across Europe. Smart search functionality and the completeness of the database will help to make effective decisions for your business.
With LIGA UNITED, you get 1-click access to:
- Millions of companies and worldwide registers.
- Adverse media screening of the companies throughout thousands of media outlets.
- Sanction lists, checking companies affiliated with Russia and Belarus.
- Information on PEPs and private individuals.
- Constantly updated database, with new profiles every day.
An extensive collection of trustworthy information in LIGA UNITED helps in many tasks, particularly when making insurance decisions, granting a property credit, or signing contracts.
Comprehensive Business Search
Offering a diverse source collection - with international registers and thousands of media outlets, including news agencies, business outlets, and social media - LIGA UNITED highlights the most important pieces in a company dossier.
When forming counterparty dossiers and checking companies' reports, the service draws on the most critical insights, to help managers make decisions. A company profile in LIGA UNITED includes:
- Data on owners and beneficiaries.
- Interactive diagram of business links.
- Sanction list search.
- Tax data, public funds, and financial state.
- History of the company changes.
LIGA UNITED database is constantly growing, and information on companies is always up-to-date.
Find Business Information - Meet Daily Challenges
By and large, LIGA UNITED helps companies to gather, control and analyse information for their advantage. Having a bird's-eye view of competitors and partners, you’ll be able to make defensible decisions and keep business leverage.
LIGA UNITED functionality will be handy in many daily tasks:
- Improve data collection and research.
- Find new clients, vendors, and contractors, identify directions for business development.
- Conduct industry and competitor research.
- Set up monitoring for a company and get alerts on their updates.
- Make informed and effective managerial decisions.
- Keep up with market trends and insights.
To define the search process, it is helpful to think of every piece of information on a company or business entity. In a nutshell, it is research that contains insights to proceed or decline cooperation with a company, to check its legitimacy.
Details mandatory for checks include an official corporate name, address, requisites, and names of owners, directors, and beneficiaries. Such details are basic for verification. However, more comprehensive checks may incorporate adverse media screening, court proceedings involving the company, and other details.
The procedure should be conducted for every new partner, contractor, customer, or vendor. Relying on complete information, the management team will be sure of new business connections.
If you have doubts about the credibility of a business, you should spend a few minutes checking official sources before interacting with them.
Here are details to begin with:
- Verify company address and phone number. Call the number provided on the website, and compare contacts you have with the information on google maps to understand if the address is legitimate.
- Check the company’s official name. Not knowing the correct company’s name may cause several issues. First, your research will skip important insights. In addition, any legal documentation - contracts, lawsuits, complaints - would be invalid if the name is misspelt.
- Identify directors, owners, and beneficiaries to understand who controls the company and has the signing authority.
- Check media mentions on the business to avoid reputational damage.
A wide range of free and paid company databases are available online. Even routine online search in Google or Wikipedia can bring fruitful results, including:
- official address and foundation date;
- employees and management;
- owners/company name changes;
- public records;
- negative/positive media publications.
However, paid tools - such as LIGA UNITED - provide more comprehensive information and possibilities for control. For instance, by setting up monitoring the user gets automatic alerts on any company updates (changing requisites, owners, etc).