Learn how to protect yourself against the risk of insolvency

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Until the start of the pandemic, the economy was growing at a dizzying pace and companies' turnover was growing in proportion to market developments.

However, COVID-19 put a brake on a very promising period, throwing companies into a difficult phase, in which the activity of many organizations was limited or completely non-existent.

To face this period, many companies were forced to rethink their activity and reinvent themselves in order to find new ways of invoicing.

However, even with all the efforts and support, not all companies were able to withstand the limitations, ending up at risk of insolvency and closing their activity.

We are therefore going through a period where survival is one of the key ivory coast whatsapp number database and is at the top of the list of priorities, forcing companies to be constantly vigilant of all financial data to ensure the reduction of business risk and exposure to the risk of customer insolvency.

Anticipate your customers' financial problems
Business risk is constant and requires rigorous monitoring of financial data to ensure good performance and correct financial management of the company.

However, if internal analysis is an essential factor for success, external analysis also gains great importance, especially in the times in which we live.

With the risk of insolvency more present in organizations, it is important to monitor customer developments so that problems can be anticipated before they occur.

One of the best ways to reduce your exposure to insolvency risk is by constantly monitoring your customers’ risk information. To do this, you should carefully analyze information about commercial risk, sales, results, financial ratios, ratings, credit opinions, lawsuits or insolvencies.

With your customers’ financial data in hand, making more informed and less risky business decisions becomes easier. It also allows you to assess the viability of credit granting processes, reducing the risk of default.

All this management can be carried out manually through the analysis of the most varied market and organizational data, but it can be simplified through the use of specialized tools for this purpose.

Avoid the risk of insolvency with the right tools
If you are looking for a way to guarantee all the information about the organizations that work with you, ERP PRIMAVERA V10 could be your ally, guaranteeing constant and updated information about all your clients.

If you use Informa D&B services, you can integrate all data into the ERP, allowing for simpler monitoring focused on a single dashboard.

Simply select the entities you want to monitor (whether customers, suppliers or third parties), and the platform will display all the available information exactly when you need it, i.e. when you are carrying out operations on these entities.

To help you keep up with all the changes, ERP PRIMAVERA V10 also provides a notification and alert system that will inform you of new information about your customers to ensure optimisation of credit control and financial management of your company.