The term "monitoring" in relation to customers often sounds harsher than it is - but it's a discipline that involves continuously monitoring your customers - and thus continuously collecting relevant information about them.
Many companies, especially larger ones, choose to monitor their customers - and it can be very cost-effective, especially if the company has large or long credits in play.
Monitoring is basically about continuously collecting relevant information about your customers - which can contribute positively to the image of your customers.
Ofte bruges overvågning af kunder til at opdatere kunders generalia (navn, adresse og virksomhedsstatus) – men også til løbende at indhente kreditdata og seneste regnskabsoplysninger.
Monitoring should help ensure that your ERP, CRM and accounting systems always have the correct information on the customer - ensuring that goods are sent to the right places and that the invoice is for the right company.
In addition, monitoring can also help provide financial insight - and thus contribute to the company's credit policy.
Many companies often conduct credit assessments of their customers at the start of the customer relationship - but often forget to renew this credit assessment on an ongoing basis. With continuous monitoring, credit scoring can be combined with this.
There are many opinions on which customers should be monitored; some believe that only customers in certain industries should be monitored, while others believe that only customers with a certain turnover pose a significant risk.
We fundamentally believe that all customers should be monitored. Regardless of industry, turnover, number of employees or company structure - there is still an inherent risk that the company 1) changes address or management and 2) that the company's credit rating changes during the time they are your customer. You should, of course, assess internally within the company which types of customers you think should be monitored - and whether some customers should be monitored at a more frequent interval.
For example, should the customers you do the most business with be monitored the most?
Hos Qatchr har vi udarbejdet en avanceret platform, der kan hjælpe virksomheder med alt fra indhentning af kreditoplysning til kreditovervågning af kunder.
We offer an easy-to-use platform where you can get a more in-depth picture of your customers - whether they're private individuals or businesses - quickly, easily and affordably.
Contact us today for a free, no-obligation demo of your customer monitoring capabilities.
Read more: Credit rating of private individuals
Read more: Business credit rating
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