Credit risk management is a common practice in most companies and brings with it a series of challenges, such as rapid decision-making with fragmented and scarce information; the high cost of insuring complete portfolios; limited knowledge of international markets; the high management time in the admission and recovery of operations and the reactive and manual monitoring of customers, to mention a few. All this translates into a decline and a loss of efficiency in management.
In Experian | axesor we are aware of the importance of credit risk management for companies, and we have integrated into a single web platform, Monitoriza Plus, all the necessary functions to manage all phases of the commercial credit risk cycle, which allows to address all the above challenges and make the best decision at all times.
In addition, with Monitoriza Plus, companies have access to the most complete range of data with the incorporation of more than 200 daily sources of commercial, financial, mercantile and incident information, which allows them to identify the probability of non-payment of the Spanish fabric with a high level of predictability.
Spanish companies, the most affected by non-payments
One of the key aspects of credit risk management is the costs incurred due to late payments. In fact, according to data from the Spanish Multisectoral Platform against Late Payment, during 2022, 31% of those surveyed reported an increase in their ratio of non-payments and 35% of those interviewed stated that they have noticed an increase in the collection periods of customers from private companies.
But... what if, in addition, within the same credit management tool, companies could themselves upload information about a default or consult the solvency file of every company or even the Public Administration? Now it is possible with the Monitoriza Plus module for the publication of defaults in the Experian Commercial Bureau EBE file.
In this way, the contribution to this file enhances transparency, making defaults visible to other companies such as financial institutions, insurers and telco, something completely new and revolutionary in the market.
This represents a significant advancement for Spanish companies, as it allows them to manage and reduce their commercial risk and, at the same time, helps other players in the market to be informed and thus reduce their risk of non-payment. We at Experian | axesor are convinced that working together is key to promoting transparency and reducing default and fraud rates.
written by Experian | Axesor