Do you know what’s happening with your customers right now?
Are you ready to find out about your partner’s problems before they become your losses?
How to protect your business from unexpected financial losses due to counterparty insolvency?
In today’s business world, information isn’t just power. It’s your security, your confidence, and your profits. Every day, the market changes: companies change management, accumulate debt, and face bankruptcy or liquidation. And if you learn about this too late, the consequences can be catastrophic for your business.
Information is the key to safety
Imagine this: a major client you’ve been working with for several years suddenly stops answering their calls. Invoices aren’t being paid, goods have been shipped, and yet no money is being received. You begin investigating and discover that bankruptcy proceedings were filed against the company a month ago. A month! During this time, you could have taken action, adjusted the terms of service, suspended shipments, or filed a claim with the creditors’ registry in a timely manner.
It is for such situations that the “Information Monitoring” service from RTS exists.
This isn’t just access to a database. It’s your personal analytics center, operating 24/7, monitoring all critical changes in the lives of your business partners and clients.
What is Information Monitoring?
Information monitoring is a comprehensive system for automatically tracking changes in the status and financial condition of companies in your portfolio. The system integrates data from multiple official sources and promptly informs you of any significant events.
Sources of information include:
Register of Enterprises of the Republic of Latvia - daily monitoring of changes in registration data
Central Statistical Office - Update of data on the number of employees and financial indicators
Insolvency Register - information on bankruptcy and liquidation procedures
State Revenue Service (VID) - current data on tax arrears
Court proceedings portal tiesas.lv – court hearing calendar
Insolvency Management Agency - Publications on the appointment of administrators
Register of pledges - information on pledge obligations
CSDD (Road Service) — data on vehicles of legal entities
Publications in “Latvijas Vēstnesis” — official notices and announcements
Other Information Companies - Additional Sources of Business Information
Why is client portfolio monitoring critical?
- Timely identification of insolvency risks
Financial problems for companies rarely arise out of the blue. They are usually preceded by certain warning signs: debt to the VID, lawsuits, management changes, staff layoffs. The monitoring system detects these “red flags” and immediately notifies you, giving you time to take protective measures.
- Protection of accounts receivable
If your client is facing bankruptcy proceedings, it’s crucial to file a claim with the creditor registry promptly. Even a few days late can mean a complete loss of your assets. Information monitoring ensures you’ll be notified of the bankruptcy proceedings within the first few days, giving you the opportunity to protect your interests.
- Monitoring changes in the structure of companies
A change in ownership, a change in the board composition, or the emergence of new beneficiaries—all these events can signal strategic changes in your partner’s company. The new management may be planning to revise the terms of the partnership or even terminate it altogether. Early warning will allow you to prepare for negotiations.
- Monitoring operational activity
A sharp reduction in staff, the sale of vehicles, and the emergence of liens on property are all indicators of financial difficulties. Even if the company hasn’t yet officially announced the problems, these signals will help you take preventative measures.
- Optimization of credit policy
Having a complete picture of each client’s financial status allows you to flexibly manage your terms: adjust credit limits, change payment terms, and require prepayment from risky counterparties. This isn’t just protection against losses—it’s a tool for improving the efficiency of your accounts receivable management.
How does the monitoring system work?
You create a company portfolio for monitoring—this could be your clients, suppliers, partners, or potential counterparties. The system automatically tracks all changes for each company on your list and sends you notifications about significant events.
You can configure monitoring based on various criteria:
All portfolio companies – comprehensive tracking of all partners
Problem debtors – increased control over companies with overdue payments
Events within the last 30 days - focus on recent changes
Bankruptcy and liquidation processes are critical events
Litigation - Tracking court proceedings
Changes in Management - Change of Directors and Shareholders
Tax arrears - debts to VID
New capabilities of the monitoring system
We are constantly expanding the system’s functionality to provide you with the most complete picture. Recent updates include:
- Data on the number of employees
Current information on the number of employees in companies as of December 31, 2024. This is an important indicator of the business’s scale and operational stability. A sharp reduction in staff may signal financial difficulties.
- CSDD data
Updated information on legal entities’ vehicles as of March 12, 2025. Monitoring changes in a company’s vehicle fleet helps understand its true financial health. Vehicle sales often precede serious problems.
- Current information on debt to VID
Tax debt data is updated directly from the VID database when information about a specific company is opened. You always have the most up-to-date information on your partner’s tax compliance. State debt is one of the first signs of financial problems.
- Information on the True Beneficiaries (TBE)
Up-to-date information on the beneficial owners of companies is available in the “Management” section and is updated directly from the Register of Enterprises of the Republic of Latvia. Knowing who truly controls a company is critical for assessing risks and making decisions about cooperation.
Informed is forearmed
In business, as in military affairs, timely intelligence decides the outcome of a battle. A company that has up-to-date information about its partners has a tremendous advantage:
You make decisions based on facts, not assumptions.
You protect your assets from unexpected losses
You save time on searching for information on your own
You gain a competitive advantage by reacting faster than others
You build more reliable business relationships based on transparency
Particularly important: timely filing of bankruptcy petition
One of the most critical aspects of dealing with accounts receivable is the debtor’s bankruptcy process. Legislation sets strict deadlines for filing creditor claims. If you miss this deadline, your chances of recovering the debt are slim to none.
Information monitoring ensures that you learn about the commencement of bankruptcy proceedings within the first few days after the relevant notice is published. This gives you sufficient time to:
Preparation of necessary documents
Consultations with lawyers
Timely submission of an application to the register of creditors
Protecting your financial interests
Remember: in bankruptcy matters, time is money. Literally.
Who needs Information Monitoring?
This service is indispensable for:
Companies working with deferred payment - you should know who you can trust with a loan
Goods and Services Suppliers - Protection from non-payment is critical to your cash flow
Financial institutions - credit risk management requires constant monitoring of borrowers
Companies with a large client portfolio - the more partners, the higher the likelihood of encountering a problem debtor
Exporters and Importers - International trade requires special care
For any business that values financial stability, forewarned is forearmed.
Start protecting your business today
Don’t wait until your partners’ problems become yours. Information monitoring isn’t an expense; it’s an investment in the security and stability of your business. The cost of this service is incomparable to the potential losses from a single unpaid debt.
Contact RTS if this service is relevant to you.
Our specialists will help you customize the monitoring system to your specific needs, train you on how to use the platform, and provide ongoing support.
RTS — Your reliable partner in business information management
Being informed isn’t just knowledge. It’s your confidence in the future.