CreditorWatch has just released a new feature  that enables businesses to register their security interest on the Personal Properties Security Register (PPSR) directly from ApplyEasy.

Why register on the PPSR? Who is it for?

Registering on the PPSR protects your security interests and increases your chances of recovering your assets in the event that a customer defaults or winds up.

It is important to register your security interests on the PPSR if you supply goods and/or assets on credit terms; or lease, rent or hire out equipment. Learn more here.

What can and can’t be registered on the PPSR?

The definition of personal property for PPSR purposes includes most things that aren’t land, building or fixtures. These include:

• Vehicles, boats and aircraft
• Crops and livestock
• Stock in trade
• Artworks
• New or second-hand goods
• Patents and copyright
• Commercial licences, excluding government-issued licenses such as tax licenses.
• Debts and bank accounts
• Shares, cash and cheques.

As mentioned, you cannot register assets such as land, buildings, fixtures or water rights.

Benefits of registering on the PPSR from ApplyEasy

 For best practice, register on the PPSR when onboarding a customer.

Registering on the PPSR from ApplyEasy streamlines your onboarding process and helps you gain confidence that your interests are protected.

• Improve efficiency – At the onboarding stage, you have all the information you need to complete your PPSR registration. By completing both processes at once, you’ll get more comprehensive protection, more efficiently.
• Nothing slips through the cracks – Registering on the PPSR as part of an existing process helps to reduce the risk of your Accounts Receivables team forgetting to make a registration against a new customer.
• Never miss a deadline – Timing is everything! When it comes to registering on the PPSR, it’s crucial to adhere to specific timing requirements, especially if you are supplying goods to a retailer for on-sale. For example, PMSI and inventory registrations must be completed before shipping your goods to the customer. It’s best to register as soon as possible to avoid missing these deadlines.
• Reduce risk of void registrations – Using your own registration templates in ApplyEasy ensures timely and accurate registrations e.g. using the right identifier when registering a customer.
• Protection from the start – Completing your PPSR registration during onboarding means you’re protected right from the beginning of each customer relationship.

How can I start registering on the PPSR from ApplyEasy?

For customers who use both ApplyEasy and PPSRLogic, this new feature is available immediately as part of your current subscription. No extra cost to you!

Explore this feature now. Log into ApplyEasy to start taking advantage of this new feature today!

Don’t use both solutions yet? We can help you fill the gap so you remain protected.

Our customer onboarding solution, ApplyEasy streamlines your application and due diligence process so you can onboard new customers without putting your business at unnecessary risk. Click here to learn how.

Our award-winning PPSR management solution simplifies the complex PPSR management process. Click here to learn more about about PPSRLogic.