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A customer or supplier ledger in your ERP changes over time, and keeping them up-to-date is a challenge for every organisation. Establishing the confidence that every company in your register is updated with correct company information, and that they live up to the code of conduct you agreed on and verified when onboarded, is the name of the game. Instead of re-checking every company manually on a set timeframe against the Inyett API, Inyett Company Monitor gives you a changefeed to act on, triggering you to fetch new company information, or activate a new screening of the company.

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Why you’d use it

Accurate, up-to-date data in your systems

Growing automation, the drive to put AI to work, and a business landscape increasingly exposed to financial crime all demand that company data is accurate and up-to-date. Customer and Supplier ledgers need to be maintained continuously, not annually.

Stay compliant with laws, regulations and contracts

Changes to a supplier or customers can put you out of compliance, or amount to a breach of contract. Business relationships with counterparties carrying significant debt, or showing early signals of insolvency, need to surface while there’s still time to act.

Reduce risk and exposure to crime

Knowing your customer or supplier starts with having full control over the company’s representatives. When the representatives of a company change, the risk can change with them.

Prevent costly mistakes

Incorrect customer and supplier data is both time-consuming and expensive. Up-to-date If a supplier’s bank account numbers for the suppliers make sure payments not going to the wrong recipient.

Protect your brand

A relationship with the ‘wrong’ customer or supplier — one that suddenly becomes associated with financial crime — can damage your own brand and the other relationships you’ve built.