KreditUpdate
Creditworthiness changes frequently and it is important to be able to act proactively rather than reactively when customers are suddenly unable to pay. Avoid the unknown regarding your customers’ ability to pay over time with Experian’s KreditUpdate.
KreditUpdate, an Experian Business Information solution, is an electronic service that monitors existing debtors’ activity which may change the nature of the relationship between supplier and debtor. Monitoring debt levels of customers helps prevent payment defaults by identifying changes in your customers’ credit status that may affect their ability to pay.
How can monitoring debt with KreditUpdate help you?
This service monitors numerous aspects that reflect a debtor’s legal status and creditworthiness. If any of these aspects are triggered, an email or fax is automatically and immediately sent to you. The advantage of such a service is that there is no delay in informing the supplier of the status change - this allows for immediate corrective action.
Benefits of monitoring debt with KreditUpdate
- Decrease the number of defaulting customers
- Improve your bottom line
- Mitigate your risk exposure
Key features of KreditUpdate
- Considers over 25 different aspects that reflect creditworthiness
- Immediate alert of changes in customers’ credit status
- Alerts are triggered automatically and immediately
- Alerts are delivered electronically
- Gives you the ability to act proactively with customers
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