94% of customers recommend CreditorWatchLet us show you why
Andrew is the National Credit Manager for a corporation with several thousand customers. He uses CreditorWatch's Credit Check to examine a new customer's history. If any adverse data comes up, he investigates further using CreditorWatch as a portal to information provided by sources such as the Australian Securities and Investments Commission (ASIC), the Australian Business Register, Magistrates Courts, corporations and CreditorWatch's members.
Once a customer opens an account, Andrew uses CreditorWatch's Watchlist to monitor all debtors. When adverse data is recorded against a customer, he receives an alert so he can react to the new information. CreditorWatch allows Andrew to monitor several thousand customers on a restricted budget, making efficient use of his time and saving his organisation money.
Sarah owns a small business sourcing and distributing gourmet food products to cafes, restaurants and upmarket grocery stores. As a providore, she needs to pay for the goods and distribution and balance the business' income to ensure she stays cash flow positive. Unfortunately, the food industry is notorious for being high risk and low margin. Sarah uses CreditorWatch to assess new customers and set appropriate credit limits to reduce her exposure to bad debt.
She is not alone. Businesses in the food industry often have a number of suppliers so Sarah uses the high volume of information CreditorWatch members share about their debtor experiences to adjust the credit limits of her customers in order to stay on the safe side. This has enabled her to take preventative action in an often volatile industry and avoid 'supplier hoppers'.
Jim is the financial controller of a medium-sized printing company. His organisation provides printing services to a variety of clients, including a publisher with a large volume of regular magazines, and corporate and small business clients with occasional marketing needs. The mix of regular and ad hoc jobs makes it difficult to review each account, so many invoices have fallen well overdue. Jim uses CreditorWatch's free final notice template to pursue the debts.
Luckily, most of the clients pay upon receiving this piece of correspondence. For the one that didn't, Jim uses his CreditorWatch account to register the unpaid invoice as a payment default. The client feels obliged to pay it when another CreditorWatch member refuses to extend credit after seeing adverse data on its file. Jim now uses CreditorWatch to monitor all the printer's clients.
Tina is responsible for accounts receivable at a courier company, one service industry well known for its slow paying customers. Tina wants to shorten the cash flow cycle and reduce the number of late payments. She uses CreditorWatch's logo on outgoing invoices to let customers know the business is a member. The logo leverages CreditorWatch's reputation as a credit reporting agency, which encourages many slow payers to speed up and settle their bills quickly.
For one particularly stubborn client, Tina uses CreditorWatch's free letter of demand template as a last warning before employing debt collection services. The debtor realises she is serious about having the invoice paid and hands over the money. Tina avoids the expense of hiring a collection agency and benefits from the lasting effect of employing CreditorWatch as a third party monitoring agency.
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