Company credit scores, payment behaviours or business circumstances are constantly changing and being updated whether that's positive or negative; and it is important to keep track and get alerts on certain changes.

You can will get 2 types of alerts:
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2.) Monitoring Notification Summary email alerts - users subscribed to receive the email monitoring alerts will also receive daily email should there be any updates on the customers being monitored.

Sample email alert:

ezyCollect Credit Monitoring allows you to get 'real time' alerts for adverse credit events that include the following. 

Alerts that you receive on credit monitoring will notify you of a 'change' and if you require specific details on this, you can access basic credit reports based off your Credit Insights plan. Alternatively, you can purchase a comprehensive credit report for a fee of $45+GST per request.

A collection notification is typically classed as a negative event. It indicates that the
original creditor has given up trying to recover a debt and has referred it to a debt collection agency.

For example, illion will issue a negative event alert about a business entity when it has
received instruction to collect an unpaid debt from it.
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​Court actions are negative events. The various courts across Australia are responsible for providing credit reporting bureaus with data on writs or summons that have been issued to a commercial entity in relation to an outstanding debt.
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​Director changes is a neutral event as it is a notification that a company officeholder has changed. Still, it’s important for a supplier to know when their customers’ directors change. This could be because a director may have signed a director’s guarantee that they will be personally liable for their company’s unpaid debts. If this is the case, then the supplier would want to know if that director moves on.
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In Australia, for example, a business must keep its company officeholders’ details up to date with the federal corporate regulator, Australian Securities and Investment Commission (ASIC). Director changes are significant because officeholders have obligations to comply with reporting and legal requirements.
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​Financial change is generally a neutral event as it indicates that a monitored company has lodged its financials at ASIC for review.
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​A public filing notification is a negative event. It informs that a creditor of a business
entity has made an application to the court under the Corporations Act to wind up that entity due to insolvency.
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​Status change alerts could be positive or negative as they relate to the current ASIC status of the entity.

- An example of a negative alert is when ASIC confirms that an entity has moved from ‘Registered’ to ‘ Under External Administration’.

- An example of a positive alert is when ASIC confirms that an entity has moved from ‘Strike-off action’ back to ‘Registered’.
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​Score changes report that a company’s late payment risk and /or failure risk scores have changed. These credit scores indicate the likelihood that a business entity will pay severely late and fail in the next 12 months. Scores can improve, stay the same, or decline, and therefore generate a positive, neutral or negative alert respectively.
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​Shareholder changes are a neutral event. ASIC notifies that a company has updated their register of shareholders as required by law. Shareholder changes are important to know because they indicate a change in ownership of the company which may affect employees, suppliers and customers.

A credit monitoring service can help you to quickly identify
​customers that pose a heightened credit risk to your business.

Learn how to add your debtors/customer to credit monitoring 

Related Webinar: How to get the most out of ezyCollect's Credit Insights and Monitoring