Contractual clients of Inforegister will have a client database update in their mailbox once a week, without having to invest in data input or interfacing. Entrepreneurs know full well that an overview of and their level of solvency clients (an updated client portfolio) is crucial to success. But more often than not achieving such an overview is so resource-intensive that enterprises take a gamble and sell, not knowing if the company is perhaps fronted by a straw man.
Is monitoring clients and keeping the client base updated taking up valuable time? Are You aware of what is going on in Your client base? When did You last have a thorough overview of Your customer base?
These are questions that, with automated answers, can save You days of work, because one client background check takes 10 minutes on average.
Inforegister has experience with a client who spent ca 30,000€ per annum on hiring a credit review specialist, 15,000€ a year on written-off invoices, and ca 10,000€ on indirect expenses – all in all, around 55,000€ of costs. Thanks to human resources, this enterprise wrote off on average 7 invoices a month, but without a credit review specialist this number would have been 2.5 times higher, adding up to 85,000€ of loss in profits per year.
Giving our clients what they want and need, Inforegister is now offering a time-efficient way of keeping the client base up to date.
Client base update
We send our clients a compact overview of their client portfolio by email. The data is delivered to the company’s mailbox every Monday, in an easy-to-process Excel, with the most important indicator – the client’s current status or Credit Score and Credit risk rating, in addition to basic information (contacts, taxes etc). It also includes a link to the company’s profile on Stroybook and the report form is updated based on the client’s wishes. The selection includes a whole array of data to choose from: REGISTER API
To activate the service, You only need to forward to us Your client base once (registry codes or sales ledger). Later, new clients can be added to the Inforegister monitoring service and in this case, the next update will include the new customers as well. Let us know You want the updates and start off the next week in a completely new way!
Icing on the cake – solvency information
The sweetest bit of the table is the section on financial management, because we top up the Credit Score with information regarding debts. So as to make decisions about whom to give credit to and to which extent, and the settlement of which invoices to watch like a hawk, Inforegister provides companies with information on:
- Total claims
- Science-based Credit Score
- Assessment of solvency – credit risk class and credit recommendations
- Recommended credit limits
Only basic Excel skills are required to use the client base update file. In addition, most business softwares allow for direct uploads straight from Excel, making it much more convenient for different entities. The sales personnel of the company can check how safe it is to sell to a customer, and the credit manager can see when to raise the alarm and about which clients, and if necessary, to limit sales to problematic customers.
REGISTER OÜ Inforegister – a Great Temptation for Blackmailers EXAMPLE. We took a look at one small enterprise’s clients. We found that roughly 80% of the client portfolio was low risk (companies belonging to reliable and neutral risk classes), but close to a fifth belonged to a riskier category (borderline, risky or problematic). From here it depends on how much credit is afforded to them, The more the sales lean towards risky clients, the more likely for the company to lose money and the stronger the repercussions for their partners, This company had risky sales nearing 30,000€ – a significant impact at this company’s volume of operations.
REGISTER OÜ Inforegister – a Great Temptation for Blackmailers Now this solid little company can turn attention to these risky invoices, and rearrange sales so that pre-payment is required from higher-risk customers. The company will have the freshest information on their client base every week and full knowledge of what is really going on with the company’s finances.
Your company can manage credit risks better and boost sales revenues with relevant credit limits. Implement this new approach in Your company today and
No more hassle
Of course, there is the option of dedicating your time to data input, updating client data by hand, doing background checks and store this data as well, maybe in Excel… but this is time-consuming and dulling work, and depending on the provider, information may cost you. But the benefits do not last – the market situation changes every day/week/month and here we go again. Instead of stumbling around in the dark, or wasting man hours of your staff, find out more and start by ordering a client base analysis.
All the work is done by Inforegister’s automatics and so the entrepreneur can put all the resources freed up from data input, buying data, and debtors into good use developing the company.
Data can also be bought for Your own database from Inforegister, meaning data interfacing is for You – find out if this solution is best for Your company. If it is still too early for interfacing in Your company, then the client base update service is a solid alternative. The Inforegister client base update: ORDEr Now