Our experience shows that, on average, 80% of bad debt comes from companies that
you have been working with for more than a year. Monitoring accounts can be a
time consuming and costly exercise. To overcome this obstacle, D&B has a
range of sophisticated tools available to assist you effectively monitor your
accounts with real time information, enabling you to pre-empt any possible
problems and re-adjust appropriately your rules.
Internet Alert can help protect you from the financial damage that can occur
long after the initial credit decision has been made. When it comes to
monitoring the lifecycle of your customers, there is no tool more powerful than
Internet Alert. Regardless of whether you choose to monitor an individual
customer or your entire customer portfolio, Internet Alert can be customised
for each customer. Simply nominate the key information you want to keep an eye
on and let D&B's sophisticated web centric technology do the rest. You
focus on the assessment of new customers whilst D&B monitors your existing
customer portfolio and automatically alerts you, by email notification, to
changes adversely affecting their credit status. Internet Alert makes
monitoring a painless process. Internet Alert provides an additional layer of
confidence, knowing you will be notified of any sudden changes that may impact
your cashflow and your business. Internet Alert allows you to monitor public
notices, court records, shared default information, D&B collection notices,
new registered charges, new D&B report updates, and changes to the DRS and
DDS credit scores.
Monitoring the stability of accounts is vital to protect one of the businesses
most important assets - its accounts receivable. DRS Alert automates the
monitoring process and thus makes monitoring an easy, efficient and effective
way to manage the lifecycle of your customers. DRS Alert works along side
existing internal procedures and therefore integrates with your own processes.
DRS Alert can work on any time basis, for instance monthly or quarterly. You
simply select the accounts you wish to monitor and provide D&B with the
following details: Name of Account, ACN or ABN, Address, Telephone number (if
available), DUNS number (if available). All you need then decide is the time
frame for monitoring, for instance would you prefer weekly, monthly or
quarterly monitoring. The result? Confidence that you will be made aware of
potential problems the moment they arise.
D&B's Trade Exchange Program adds more timely and accurate credit
information regarding your customers' payment history. By submitting trade
experiences to D&B, you may see an improvement in your own collections.
When your invoices state that all payment histories are automatically reported
to D&B, your "slow paying customers" may respond faster while your
better-paying customers will appreciate knowing their prompt payment is
rewarded with a strong credit record.
D&B's Trade Exchange Program maintains the integrity of credit information
because it includes completely objective good and bad experiences. By
participating in the Trade Exchange Program you are entitled to free D&B
DUNSŪ Numbering of your files, validation of the legal name of your customers,
free Internet Alert upload and a comprehensive Trade Risk Analysis or Trade
Delinquency Analysis of your customer portfolio. Using the power of D&B's
predictive scoring models, the Trade Risk and Delinquency Analysis provide a
clear understanding of the strengths and weaknesses of your customers.
This 'Health Check' includes a breakdown of the debtors ledger into the highest
risk categories. Sharing objective trade, debt recovery data and default
notices within D&B enables you to make decisions based on granular,
value-added information. You will be able to quickly determine when you are
likely to be paid, pinpoint changes in payment trends and seasonal variations,
draw comparison between a businesses payment record and its industry average,
compare your order value with similar transactions and finally analyse payment
trends and assess the potential of business failure.