When you look at Credit Alerts it becomes obvious that what we are doing with any credit service is networking. What else could it be? Credit Alerts bring the world of credit analysis together with the world of networking. And since you can do it freely on FactorsNetwork you too will realize how it's truly networking.
If a FactorsNetwork member is having issues with a debtor they can post it on the Credit Report of that debtor. That Credit Alert will be blasted out to all members of the CreditExchange who are owed money by that debtor. When you join FactorsNetwork CreditExchange you get access to the knowledge and experience of all other members. FactorsNetwork empowers the Factoring Community to collaborate and minimize our risk.
FactorsNetwork alerts are relevant to your business. If you don't have any open invoices for a debtor at the time the alert is posted you won't get notice of the alert. We want to make sure your alerts won't be handled like spam. Of course you can always see alerts if you pull a Credit Report on the debtor.
Some Factors want to get alerts for a period of time after they run credit on a debtor. This ensures they will get an alert in the time between when they grant credit to the time they get open invoices into the CreditExchange. You can set the amount of time you want to get alerts after you pull the credit report. Depending on your upload schedule this is sometimes a period of over a month. If a debtor you granted credit to starts to go bad during this period you can address the situation rapidly and limit your exposure.