Business information portal monitors insolvency procedures and documents collection on-line

As of today, the business information portal CRIBIS.CZ monitors the on-line insolvency register. Monitoring of electronic documents collection has also moved into on-line mode. CRIBIS customers can thus receive immediate warnings related to the portfolio of their interest, as insolvency proceeding declarations. Now, the information in company databases, indexes and relation charts are as recent and up to date as they have ever been. CRIBIS.CZ portal is administrated by CCB – Czech Credit Bureau which organizes Banking and non-Banking Credit Bureau and provides iRating services.
At the beginning of this year, the new insolvency law was passed. Creditors are now obliged to submit their claims according to the insolvency procedure within 30 days in case of discharge of debts and within 2 months in case of bankruptcy. For companies this means that it must regularly monitor its whole customer portfolio. If the company fails to do this it risks losing the chance of settling an adequate claim process of insolvency. „For any company with more than ten customers this is a time consuming activity. CRIBIS.CZ can monitror customer portfolios automatically and thus also automatically warn our clients,“ said Pavel Finger, Member of the Board of CCB – Czech Credit Bureau and responsible for this new service.

The uploading of data from the electronic documents collection has also moved into on-line mode. Data from the financial closure is thus available in CRIBIS.CZ immediately after its publication in the documents collection. „Analytical reports, marketing lists and also CCB index, a risk scale, are thus always up-to-date, which significantly increases the value of the whole portal,“ added Pavel Finger. In the analysis, CCB – Czech Credit Bureau uses similar methodology and analytical experiences as Czech banks use for the assessment of credit applicants.

CRIBIS.CZ manages one of the largest company databases in the Czech Republic. In addition to access to public and private company information, its users have on-line access to various analytical reports, scope of which can be customized. Part of these reports also show bankruptcy probability of any given company. CCB Index expresses business risk related to the given company, from the point of view of its business partners, regional and branch rating and the structure of economically interconnected subjects. Marketing lists with contact details are also available.