TZ ORION Monitoring of insolvency registers keeps an eye on business partners’ credibility5. November 2012
Brno, 30 October 2012 – Insolvency registry monitoring represents a new on-line service of the ORION consolidation centre. Its purpose is to automatically monitor business partners’ solvency. It was introduced to the market by CCV Information systems in cooperation with its subsidiary company Insolvence 2008. After only two months since its entry, it is already in use at more than 400 companies.
ORION Monitoring of the insolvency registers represents an on-line service that monitors the insolvency registry (aka ISIR). This is accomplished through a web application, which notifies the user via an email about relevant events such as insolvency proposal, decision on bankruptcy or significant changes in the partners’ business documentation stored in the national Business Register. The service enables not only a long-term supervision of subjects in danger of insolvency but also a comprehensive import of related data, or one-off combined requests using the predefined tools or recurrent overview reporting. Its major advantage is the speed with which it can record all events and the possibility of browsing the ISIR register, even at times when it is not available. Thanks to this function, it is possible to ready, without delays and mistakes, any necessary invoices to the defaulter.
“The solution represents a useful and easily accessible tool for organizations that need to regularly monitor a larger number of partners in the Business Register and are interested in effectively addressing the risks regarding stability of their cash flow and decrease the effort needed to achieve it all.” says David Reichel, head of the eBusiness division at CCV Information systems.
Consumer cooperatives (COOPs) have eliminated the risk of disruptions in supplies, Schneider Electric monitors customer invoicing
ORION Monitoring of the insolvency register has been professionally developed by Insolvence 2008, building predominantly on the experience of insolvency practitioners but also many lawyers and other experts. It is provided free of charge to all companies that make use of the EDI ORION clearing centre for electronic invoicing and for up to 15 monitored subjects.
“The COOP retail stores are focusing on stable relationships with their suppliers in an effort to remain close to the customer not only in the large cities but also in smaller villages and to maintain the high standard of services provided. As a purchasing central we closely monitor the ability to fulfil contracts among hundreds of our suppliers, thus limiting the risk of disruptions to the supply chain. Because we often work with credit and refund notes, insolvency register monitoring represents a safe bet for us in terms of cash flow management,” says Radim Šedivý, CIO at COOP Moravia.
Schneider Electric CZ has also appreciated the services benefits, as it already uses ORION to support its e-invoicing for more than 1300 business customers. Jarmila Sovová is a head of accounting at Schneider Electric CZ: “We are particularly pleased with the service’s link to the electronic invoicing of our customers. Through it, we are able to easily monitor whether any of our accounts receivable are in danger. Since as a creditor we needn’t be necessarily notified of the insolvency of our debtors and any relevant claims often must be filed within 45 days of the beginning of the proceeding, which is sometimes very difficult in practice.“
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CCV Information systems has been active on the market since 1992. Our HQ is situated in Brno (CCV Business Solutions division) and our branch offices are in Brno (CCV eGovernment division), Opava (CCV eBusiness division) and v Kysucké Nové Mesto (CCV Slovakia). We provide comprehensive supplies in development, consultancy and implementation of business information systems (Microsoft Dynamics) and other software applications for selected areas of business. We specialize in solutions for the provision of Electronic data interchange (EDI Orion solution), which ensures paperless circulation of business documentation. We develop specialized solutions (registers, portals) for state administration. CCV Information systems is a holder of the certificate of the system of quality ISO 9001:2009, Microsoft Gold Certified Partner and a proud bearer of the Oracle Gold Partner title.