Jade Greenhow, Director of Operations at Insight Data warns of financial risk if businesses aren’t monitoring their clients for credit risk.
“The coronavirus crisis has thrown the UK into economic meltdown and as the glazing industry turns to recovery, the entire supply chain will be counting the cost of the lockdown.”
“Credit control and managing debt risk will be more important than ever – for both new and existing customers. Insight Data analysed the financial data of over 9,075 fabricators and installers and 1,038 companies had poor or very poor credit ratings – and that was before the coronavirus struck.”
“6 months have passed, and the industry is still changing and evolving at a rapid pace. Companies are closing their doors every day due to the crippling financial implications of a pandemic that continues to claim businesses regardless of what industry they operate in.”
“It’s vitally important to monitor your customer’s financial statuses if you want to avoid trouble. If your customers have a poor credit rating, this might suggest that they may not be able to pay for outstanding services or orders from you.”
“That’s why our innovative marketing and sales CRM tool has built-in features that allow our clients to monitor their customers’ financial statuses. Armed with that information our clients can foresee risk and avoid it.”
“Our sales and marketing tool, Salestracker, provides users with a financial snapshot including credit rating, net worth and any adverse credit history (such as County Court Judgements). A unique ‘traffic light’ system flags companies as green (low risk), amber (moderate) or red (high risk).”
“Sales and marketing teams can filter prospects by credit rating to avoid wasting time and money, and managers can add existing customers to ‘Credit Monitoring’ and get alerted of any credit changes.”
For more information visit www.insightdata.co.uk
