Businesses supplying goods and services to the construction and RMI sectors are being urged to sharpen their approach to credit risk as economic pressure continues to ripple through the supply chain.
Insight Data says demand has risen for the financial trigger alerts built into its Salestracker platform, as more suppliers look for ways to spot trouble early and protect cashflow. The system monitors the financial position of companies in a user’s customer and prospect database...
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and sends real-time alerts when there are material changes, including county court judgments, credit rating movements and other signs of distress.
According to the company, the tool covers financial intelligence on more than 50,000 UK construction businesses, including over 15,000 fabricators and installers in the window, door and conservatory markets. That breadth matters in a sector where trading conditions can shift quickly and a single bad debt can have an outsized effect on margins.
Andrew Scott, chief executive of Insight Data, said the construction industry has gone through a difficult period and many firms are still feeling the strain. He said warning signs usually appear before a business runs into serious difficulty, and that live credit alerts allow companies to act before risks escalate.
The alerts are delivered through Salestracker to sales, credit control and management teams, giving them immediate visibility of changes affecting both customers and prospects. Insight Data says the same information can also help identify opportunities, such as when a business has improved its rating or cleared a CCJ and may now be a stronger trading partner.
Insight Data, which was established in 2006, has positioned itself as a provider of live commercial intelligence for the glazing and wider construction market, arguing that traditional project-led data is no longer enough on its own. The company has also recently invested £500,000 in expansion, creating new roles and widening its software capacity as it looks to support further growth in the sector.
Source: Noah Wire Services
