Print Page

Alerts

Early warning signs for a company in financial distress are easily detected through Corporate Scorecard’s Alert Service.

Taking proactive measures to minimise and avoid risk is not only as- tute but necessary in today’s economic climate. We can monitor your entire supply base to immediately alert you when there are indicators of a contractor’s potential failure.

Corporate Scorecard’s new Alert Service detects unusual changes to a supplier’s operations, including insolvency actions, changes in key corporate details, (e.g. Name, address, directors, judgements and payment defaults,) with the option to monitor changes to the Equifax Risk Score.

Your monitoring menu

Alert Service is designed to monitor:

Insolvency actions and petitions	Implement risk mitigation strategies to avoid being impacted
Court judgements and payment defaults	A leading indicator of business failure, giving you an early warning
Change of corporate details	A change in trading name, shareholding or address can indicate a change of ownership or the need to review a contract
Change of directors	Can be an indicator of an organisation in distress. Key personnel dependencies in smaller companies can also be monitored
Lodgement of financial statements	The best time to review the financial position of key suppliers
Defaults	An early indicator when monitoring a small number of suppliers, or businesses/sole traders
Change in Equifax Risk Score	A leading indicator of potential financial distress when a company moves into a higher risk band

Key benefits

Alert Service offers your business many benefits, including:

Data matching and cleansing of your supplier base - Alert Service will correctly identify entity names (including trusts) and their status and identify any duplicates or deregistered in your data.
Risk review of your suppliers - Entities that are potentially high risk can be identified immediately.
Flexibility - You can prioritise the items you wish to monitor and the immediacy in which you are alerted.
Prioritisation - You can prioritise your suppliers and nominate the frequency in which you receive alerts for each.
Formats - to suit your needs; choose to receive data in a CSV for uploading to your database or PDF format for easy reading.
Keep Notes - Dashboard allows you to keep notes and track all the alerts received per entity.
Alert notifications - Alerts can be sent to one or multiple email addresses.
Retention: Warranty/Defects payments - Ensures annual supplier/contractors are still active to receive retention payments.

Setting up your Alert Service

Step 1: Prepare your data in CSV or Excel format

Data should include:

Your identifier code or codes

For Companies:

The ABN
The entity name
The ACN

For non-companies (e.g. registered businesses, sole traders, other associations) please also provide:

Address details (preferably fielded)
ARBN (registration number)

For best results on sole traders please also provide:

Name of owner
Address details (preferably fielded)
Date of Birth

Step 2: Prioritise your accounts (high, medium or low) and choose an alert frequency for each

This is an optional step available for databases containing more than 1,000 records only.

Item		Immediate (Daily)	Weekly Digest
Liquidations or bankruptcy items
Insolvency actions and petitions
Court judgements and payment defaults
Change of Name
Change of shareholding
Change of address
Change of directors
Change of financials
Court actions	Over $..............
Court actions	Under $..............
Defaults

Step 3: Choose how you want your accounts sorted

By your identifier code
By ABN
By Name
By Item type

Step 4: Choose the alert format you require

PDF (tabular)
CSV (spreadsheet)