Focus on: Monitoring Services
What are Monitoring Services?
In a global environment, changes in a company’s situation can severely affect a business relationship, so it is crucial to be constantly aware of what is happening. Having an updated snapshot of the company is necessary to take good decisions and to plan future developments, because positive and negative changes could hide opportunities or threats. Being informed about worldwide business partners is fundamental for the companies to avoid unpleasant surprises, therefore Monitoring Services are essential solutions to supervise all changes affecting worldwide companies.
What kind of events do they monitor?
Monitoring Services keep track of every change in the company situation from an economical, organizational or legal point of view. They help to keep watch on what could possibly affect a business relationship, such as a customer who is no longer able to pay, a supplier in a difficult situation who risks to interrupt a production chain, a change of ownership or bankrupt cases.
Which are the Skyminder Monitoring Solutions?
Skyminder offers three Monitoring Solutions: Full Monitoring, Alert and Planned Revision.
Starting from a Credit Report, it is possible to activate the Full Monitoring. With this solution every time a change affects a company, a detailed notification is generated to help understand the type of variation. This service offers the most complete level of information. In addition to that, every time there is a change, also an updated report is available on the platform.
This service is available for those countries with a good level of data availability and updating.
- Rapid notification of changes with a high level of detail
- Thanks to a revised Credit Report, a new overview of the company will be available, including changes
Starting from a Credit Report, it is possible to activate the Alert, a service informing when something changes within a specific area (e.g. in the Balance Sheet section). It provides a short notification related to the macro area of change, but without giving the details of the modification. This solution only shows the field in which it occurred, but not the kind of change happened. To know more, it is possible purchase a new Credit Report.
Just like Full Monitoring, this mechanism is applicable to countries with a good level of data availability, updating and data processing.
- Notification of changes within a specific area: details are not always necessary from the beginning.
- Ability to immediately evaluate if a change is potentially relevant or not.
- If required, possibility to buy an updated report.
Also for Planned Revision, in order to activate the service it is necessary to purchase a Credit Report. The mechanism is different as this service is specifically important for countries where a fresh investigated report is essential to take a reliable business decision.
The Planned Revision is a periodical automatic purchase of a Credit Report on the same company according to a scheduled preset frequency (e.g. quarterly). It is useful to have periodical snapshot of the company to assess if the company situation has changed or not.
After requesting the first Credit Report, there is the option to periodically receive a new revised Report. Update frequencies available are: monthly, quarterly, every 6 months or yearly.
- Guarantee of taking decisions based on updated data. Even know that there are no changes is an important information.
- No need to periodically request a report. Planned Revision does it automatically.
- Possibility to cancel the service if no longer required
Skyminder Monitoring Solutions are based on 4 pillars:
Flexibility: possibility to choose the right solution accordingly to data needed and country
Freedom: SkyMinder Monitoring Services can be requested only if needed. No automatic triggers are in place and the Monitoring Services can be activated case by case.
Worldwide availability: the entire world covered by Monitoring solutions. SkyMinder Monitoring Services are available all over the world. Differences in solutions availability mainly depends on data updating, data availability at official registries in electronic format, data structure and processes.
Cost transparency: awareness on how much each transaction costs. SkyMinder Monitoring Services are transparent in price management. When a request of SkyMinder Monitoring Services is placed, customer is alerted on how much is going to pay and he can decide to proceed or not.
Cost benefit approach: select the most appropriate solution considering own evaluation processes. SkyMinder Monitoring Services are based on a cost benefit approach. It means that every solution is studied to satisfy different needs considering also cost savings and company budget. Information considered essential can vary depending on various elements, like, risk, geographic area, value of the deal.