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ROSI Monitor instantly alerts you by email if one of your customers fails to pay one of their other suppliers after they have had a demand letter from a Debt Collection Agency (DCA) or solicitor.

Usually it would require a County Court Judgement (CCJ) to be issued against your customer before you would receive independent notification that your customer is struggling. By this time it could be too late for you to take the actions necessary to protect your own business by reducing your credit exposure to this customer. 
ROSI provides a much earlier warning system and regularly identifies failing businesses up to 12 months earlier than traditional credit reporting monitoring and CCJ related services

Here’s how the ROSI database and the ROSI Monitor works:

  • AccountAssyst has an exclusive link to ROSI and the data held within it. ROSI is short for the Register of Outstanding Invoices and is compiled from data submitted by Debt Collection Agencies and solicitors engaged in business to business debt collection. It has been operating for more than four years.
  • If a demand is sent to a debtor company requesting payment of overdue invoices on behalf of one of its clients, and the debtor company fails to pay the overdue monies within the deadline specified (generally 7 days) an entry is posted on ROSI.
  • The debtor company is notified of the imminent posting of the late invoice information as a part of the demand process, so a failure to pay this particular type of demand is taken as a clear indication that they are experiencing cash flow difficulties.
  • If the debtor company has been registered on AccountAssyst as one of your clients, you will receive an automatic email alert as soon as the ROSI entry is posted.
  • When a debtor company is considering a number of demands from third party Debt Collection Agencies (DCA) or solicitors, those with ROSI warnings are often prioritised in order that the debtor company retains all aspects of their credit rating. A failure to pay a ROSI demand is therefore considered as very significant.   
    (The only exception to this would be an invoice that is legitimately in dispute. In this case the debtor company is provided with the ability to flag the ROSI entry with a marker noting that the invoice is in dispute.)   

ROSI Monitor provides a number of benefits to you and your business as follows: 

1. Instant credit information on your customers


If your customer has a ROSI entry it means that they have been through the credit control cycle of the business with whom they are in debt, and the matter has subsequently been escalated to a third party DCA or solicitor. The DCA or solicitor has given them a further 7 days to pay and they still have not done so. This is an obvious indication that your customer is having major difficulty meeting its payment obligations. They have shown themselves to be unable to:
a) pay to business terms,
b) pay after receipt of credit control letters
c) pay after receipt of demand letters from solicitors and debt collection agencies.
The next natural phase is an inability to pay after a County Court summons or other legal action.
It is only at this point that the standard credit reporting companies are able to identify the problem and begin to include this information in their reports.

2. Sufficient notice provided for you to expedite your credit control procedure


Receiving ROSI Monitor alerts allows you to be ahead of the game. You are able to take the actions necessary to increase the chances of securing payment. You could choose not to send any further goods or to send only part of an order until payment is made for example.

3. Historical ROSI Information


When opening an account or adding a new ROSI monitor, you receive the ROSI information already recorded on the credit applicant. This creates a more complete and relevant picture of the situation than can be found on a credit report.

Remember, ROSI Monitor warnings are many months in advance of anything else currently available. When a new customer approaches you to open a new account it could be for a number of reasons:

i) Your sales team have done a good job and persuaded the client of your company’s value.
ii) Their current suppliers have let them down in some way.
iii) They have been unable to pay a previous supplier and are now seeking credit elsewhere.

An example is that of a printing company approaching a courier to open an account. The printing company has accumulated many recent debts with other couriers that are now refusing to provide further service until payments are made – but who knows about it?
Only by checking the ROSI database will the courier discover this information.   

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