Wouldn't it be great if you had a super computer that would constantly be running credit on your debtors and alerting you if any have started scoring worse? Of course a system like this would probably be too expensive to justify implementing right? Not anymore!
FactorsNetwork is providing Portfolio Monitoring free of charge to participants in our CreditExchange. Portfolio Monitoring is simply a computer program that will monitor your debtor base and alert you if any of your debtors credit changes significantly for the worse. You set the parameters you want to be notified of.
You can monitor for changes in average days to pay, score or rank. All changes are based on a percentage change. You can also set a threshold under which you don't want to get alerts. For example you can have the system watch for and alert you if one of your debtors has more than $5,000 open balance and their average days to pay increases by 5%.
When you get the alert, click on the link and view their credit report to evaluate their credit with your company. FactorsNetwork portfolio monitoring is complimentary. It's just another way we leverage our knowledge and resources with computing to provide the best Credit Service imaginable.