4 August 2020
Specialists of the security service of the largest retail chain of Ukraine shared their method of checking counterparties in YouControl.
One of the largest users of our information and analytical system is the ATB retail chain. The chain consists of more than 1100 stores in 290 settlements of Ukraine, about 60000 work places, 1600 counterparties and the annual turnover of 126 bln UAH. With the help of YouControl tools ATB:
• monitors counterparties and individuals;
• analyzes links between companies and their founders;
• analyzes risk factors with the help of a company profile.
“In particular, it means checking of the financial statements of an enterprise, the availability of data in the register of court decisions, clarification of registration data, as well as the search for related persons. We also check what is owned by an enterprise, as well as FEA data,” Serhii Demchenko, the PR-director of the ATB supermarket chain, said. Thus, the chain checks bidders and other potential counterparties. In addition, the company conducts checking of individuals. And the information received through monitoring of counterparties is analyzed daily.
Risk Avoidance Case from the ATB Security Service
Recently the retailer has withdrawn from the contract with a company due to identified factors. An audit in YouControl revealed a discrepancy between the type of activity of the company and the type of services and goods provided. Specifically, the following risk factors were identified:
• inconsistency of the declared information on participation in state tenders;
• problems in financial statements;
• lack of staff considering the declared status of the company;
• more than 20 registered enterprises are located at the registration address of the company;
• its director is registered as the director 5 more enterprises.
“The fears were confirmed, as after some time a court decision within a criminal case against the officials of this enterprise upon fictitious entrepreneurship was published in the register of court decisions,” the press service of the company informed.
What YouControl Tools Are Especially Useful during the Quarantine
YouControl has been providing companies with tools to check counterparties for six years. However, during the quarantine the number of its features increased significantly. In particular, checking of foreign counterparties, monitoring of staff, etc., were added.
Working on the system updates, YouControl analysts took into account the most relevant issues for business:
• quick decision-making about procurement;
• risks of non-repayment of debts or money for goods provided on credit;
• organization of work of the procurement department and the security service;
• remote team management;
• checking of foreign suppliers.
These tasks formed the basis of the “quarantine” features in the system of checking counterparties. We spoke about them in detail in the article “Quarantined YouControl: a Brief Report on New Tools”, so now we will just remind you what exactly you can get by checking partners even remotely.
Credit limit is the algorithm that calculates how much money can be lent. In particular, whether a company will be able to pay for the planned shipments of goods.
Search in foreign registers allows to check information about companies in 19 countries of the European Union, as well as in the United Kingdom and the Russian Federation.
The tool “Groups” is for sharing “blacklists” or lists of reliable counterparties with colleagues, for transferring data quickly and securely.
Monitoring of individuals follows changes in people’s activities and lives under the conditions of remote work. For example, the presence or occurrence of debts, fines, court decisions and other facts that may affect the work of the employee and the employer company.
4D-scoring of a company is fast but informative financial scanning from the perspective of the express, financial, market analysis.
Checking of potential partners with the help of these tools helps not only retailers but also companies of all fields and sizes avoid financial losses and work safely.