With an ever fluctuating and sometimes volatile environment, there’s an increased pressure on companies who need to be able to anticipate and proactively mitigate business risk before it’s too late. Flexibility and the ability to respond quickly to a changing business environment are necessary traits that companies need to adopt, in order to keep up with the competition and the latest developments. By closely keeping a watchful eye on your business relations, you’ll be able to make swift and informed business decisions.
What is Monitoring?
Monitoring alerts are triggered based on certain criteria which you define as important to your business. Alerts are sent out straight into your email inbox as soon as they happen, so you can be assured that you’ll be notified on an important event and be in the know. Remember, it’s not only negative events which you can define and be alerted on. Rather, leverage the monitoring functionality to possibly create business opportunities e.g. a change in a positive credit rating for a customer may result in extending better credit terms to gain more revenue from increased orders on credit etc. Some examples of what can be tracked through monitoring can be along the lines of:
- Did the company file for bankruptcy?
- Did your business relation publish new annual financial statements?
- Did your customer increase or decrease its authorised share capital?
- Was a new CEO appointed?
- Did your customer change its address or trading name?
Graydon collects data from various sources, notifying you accordingly without any delay. This puts you firmly in control to make informed decisions and mitigate business risk.
What does monitoring track?
We’re all aware that situations change within companies due to the nature of business. As changes occur, you need to be informed. We also understand that keeping up with these changes would virtually be impossible without being prone to errors. Thankfully, our monitoring capabilities track a wide range of events and instantly update you as soon as they occur. Make business decisions based on intelligent data.
How does monitoring work?
Through Graydon’s online portal, you can nominate the companies you wish to monitor continuously. (Tip: Remember, keeping informed of suppliers and competitors is equally as important as your customers) As soon as you set a business relation to ‘Monitoring’, you will receive a flashback report. This is an overview of any negative messages in the past, allowing you to make a correct assessment of the current situation immediately.
If something else changes in your business relation’s organisation (in a positive or negative sense), you will receive an immediate notification in your email inbox.
The importance of monitoring your customers and suppliers?
Monitoring ensures that you always kept in the know to preventing any nasty surprises. Furthermore, leverage in the intelligence we provide you with to create business opportunities. Supply chain monitoring is equally important; as a breach in your supply chain can have significant consequences to your business.
International Risk Monitoring
Furthermore, take advantage of our International risk monitoring capabilities. If you’re trading abroad, ensure that you mitigate international risk by keeping a watchful eye on your business relations abroad.
Keep tabs on the competition
Use monitoring alerts to your advantage by knowing if there’s a change of circumstance which you need to be aware of that’s affecting your competition. Create winning strategies against your competition by utilising Graydon’s data intelligence.
Monitoring reduces risk
Use monitoring to mitigate business risk as well spot opportunities. Being in the know allows you to make the critical decisions which matter most to your business with confidence.