Take a break from bad debt

While you're going to the beach these holidays any one of your customers could be going to the wall. Try to avoid nasty surprises like bad debt with the help of Veda's Credit Alert service.

Veda's Alert service is an ongoing credit risk management monitoring tool that monitors a customer's individual credit file and provides an alert when there are specific changes in their credit history risk profile.

In today's tightening economic climate, it's critical you retain your most profitable customer portfolio, as the cost and time involved is substantially less than trying to acquire a new, profitable customer base.

With the Alert monitor on the lookout, you can be updated if your customers haven't paid other creditors like you or have applied for credit elsewhere. You'll then be able to take steps to protect your own business from potential bad debts.

Why using alerts is best for your business

If a customer defaults on payments outside of your business, you could find out and keep a closer watch on their credit behavior.

Be informed when customers could potentially become a credit risk before it's too late, or locate customers when their address details have changed or are incorrect. You can choose to receive a single user-friendly Alert spreadsheet daily showing critical changes to your customers' profiles sourced from data feeds external to your business. If your Terms of Trade provide for ongoing credit checking of your customers you may be eligible for this service.

So make sure you don't get burnt these holidays. Subscribe to Alert Monitors now on 0800 653 309 or email vedaassistance@veda.co.nz