On-Going Monitoring Alerts Enhance Productivity And Efficiency

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This is a third installment in a four-part series of “When to Use a Commercial Credit Bureau”. The previous article can be read here.

A common practice among SMEs is that once a customer has been ascertained to be credit worthy, the customer will forever be prompt in payment. As a result, companies do not spend much effort to monitor existing customer’s payment behavior or habits. This poses significant credit risk for companies especially so in current turmoil times where companies could wind up overnight without prior warning.

Yet, many SMEs find monitoring a redundant chore and indeed, without sufficient relevant information or automation, such monitoring can be burdensome and ineffective. Companies can then leverage on email alerts provided by some credit bureau (for example: DP SME Commercial Credit Bureau) to aid you in notifying you on your customer’s payment behavior to other creditors, any recent litigation or suits etc.

The following infographic will show you how a credit bureau will be able to pre-warn you of potential defaults through customer’s recent happenings

To know more about a commercial credit bureau, you can email smecb@dpgroup.com.sg. DP Information Group operates a SME commercial credit bureau that assists companies to make sound and informed credit decisions. With more than 10 years of experience, we have established ourselves as the SME knowledge partner, providing quality intelligence and analytical tools to support our clients.