Sep 03, 2009
The Better Business Bureau of Chicago and Northern Illinois introduced a new rating system earlier this year. Using a proprietary computerized formula, it assigns a letter grade (from A+ to F) to every company in its database. The system takes into account 17 factors such as a company’s complaint history, number of years in business and advertising standards. The Council of Better Business Bureaus, the umbrella organization, tested the system for over two years before making it the standard for all BBB’s to follow.
The previous system simply assigned either a “Satisfactory” or “Unsatisfactory” rating to each company. These ratings were purely based on how a company resolved its complaints. It didn’t, however, take into consideration a businesses’ volume. As a result, larger and more established companies were often put at a disadvantage.
“We were very pleased the Better Business Bureau moved to a more progressive, all-encompassing rating system,” said Jerry Stock, President of U.S. Waterproofing. “In today’s age of information, consumers are turning to the Internet to help make more informed decisions. An A+ rating from a trusted name like the Better Business Bureau in our competitive marketplace is invaluable.”