CreditorWatch
4 mins read

CreditorWatch’s latest enhancements driving peak performance

CreditorWatch has been providing Australian businesses with innovative credit management products and unique data insights since 2010, helping them confidently manage their commercial relationships, improve productivity and reduce exposure to financial risk and bad debt. 

We’re dedicated to providing the most advanced credit risk management solutions to our customers, and this means constant innovation and rigorous development. We’ve made huge investments in ramping up our security, privacy, performance and products to deliver the most-advanced platform yet. We’re proud to share the following recent developments: 

CreditorWatch’s enhancements over the past 12 months

Platform Performance: Proven commitment to business continuity

Platform downtime has significant financial, operational and reputational costs for businesses. That’s why we’re dedicated to constantly improving our platform performance.

In the past 12 months, our platform’s uptime has been better than 99.98%. CreditorWatch has an exceptional track record of maintaining a market-leading minimum uptime of 99.98% for the past four years. Customers can be confident in our commitment and capacity to maintain business continuity.

Products and Features

  • Launch of Debtor Management
    On 9 May we launched our latest debt collection solution, Debtor Management, to all customers. This new solution helps businesses escalate overdue debt quickly, minimises manual work and ultimately get paid. Debtor Management enables businesses to: 
    • Create ready-to-send collection letters in a few clicks – Simply choose the customer and relevant invoices to escalate, pick the type of letter you want to use then click download. 
    • Prioritise your collection efforts – See all your overdue accounts in one dashboard, enriched with payment risk insights to help you manage your debtors and prioritise your collection efforts. 
    • Connect with your accounting software – Whether it be Xero, MYOB Business or QuickBooks, Debtor Management produces insights and collection letters using your source of truth. 
    • Register payment defaults, add late paying customers and access previously created collection letters all from the same portal.

      Debtor Management has been proven to increase debt recovery rates by up to 57%, helping businesses secure their cash flow in this volatile economy. 

  • New and improved CreditorWatch Collect
    Over the past year, we’ve made huge investments in improving the performance of CreditorWatch Collect, our automated collections solution that helps businesses be more proactive about chasing late payments and therefore getting paid faster.

    We’ve improved how credit notes are shown, providing AR teams with a more accurate view of the overall position of an account and their invoices. We have also expanded CreditorWatch Collect’s compatibility with more accounting software packages.

    Businesses can now automate their collections process with CreditorWatch Collect using the following packages: 

    • Xero 
    • MYOB 
    • QuickBooks 
    • Microsoft Dynamics Business Central 
    • NetSuite 

      CreditorWatch Collect can also connect with ANY accounting software via direct API.  

  • ApplyEasy makes onboarding even easier
    Our popular customer onboarding solution is now more powerful than ever. We’ve updated ApplyEasy with the following features:  
    • Improved case management and workflow – track and manage applications easily, giving teams visibility into each application’s progress. 
    • Enhanced data security – Allows the secure capture and storage of sensitive identification information such as drivers licences.  
    • Onboard businesses under trust structure – Simply enter the trust name and we auto-fill the trust and business trustees’ information, check their credit reports and make an automated recommendation on the application outcome. 
    • Never forget to register on the PPSR again – Simply create a registration directly from your application inbox, using your own templates. It’s a few clicks, and doesn’t require you to go to another page to make a registration.
  • Advanced UBO reporting capabilities
    We have also levelled up our UBO reporting and functional capabilities. Customers can now view exact ownership percentages of beneficial owners based on share count or share value. They also now have access to additional information including: 
    • Additional entity details. 
    • Complexity levels. 
    • Beneficially and non-beneficially held information. 
    • Linked companies of UBOs.

      These reports further increase transparency of ultimate beneficial ownerships, helping companies effectively manage financial risks and make more informed business decisions.

  • Upgraded PPSRLogic with increased efficiencies
    We have also upgraded our award-winning PPSR management platform, making it more efficient than ever. 
    • Easy access – PPSRLogic is now accessible from the CreditorWatch portal, making it easier for you to access a more intuitive interface, making it easier for you to navigate and do what you need to do. 
  • Single Sign-On (SSO) provides easy, secure access to CreditorWatch
    Single Sign-on (SSO) to the CreditorWatch portal is now available, streamlining the authentication process. Customers with SSO set up can seamlessly login to CreditorWatch, using their company credentials, with a single click.

  • Security and Privacy
    We’re committed to meeting the highest industry security standards to protect our customers’ information. Enhancements in this area include: 
    • Updated ISO certification to the latest version of ISO27001:2022. 
    • Enhanced security by embedding automation and AI capabilities across all services (unit, functional and end-to-end). 
    • Improved Software Vulnerability Management by Software Bill of Materials (SBOM) and Software Composition Analysis (SCA). 
    • More robust and continuous vendor risk assessment, ensuring that our vendors and partners also meet the same security standards we hold for ourselves. 
    • Increased encryption within our products to improve data security and privacy. 
Exciting developments for FY2025

From 1 July 2024, we will begin rolling out the following features: 

  • User Groups, Roles and Permission Settings
    Customers will soon be able to manage their users and teams in a way that is more appropriate to their business’s requirements. They will be able to streamline user operations by only showing relevant data and products to each user, as well as customising user permissions and access. This will enhance security and increase operational efficiencies.

     

  • Integration Marketplace
    We will be launching a single location where users can link their Accounting, CRM and ERP data sources into CreditorWatch quickly and easily. This will further streamline processes and enhance data quality.

     

  • ASIC Services Rebuild
    We will be upgrading our ASIC services to allow faster data retrieval for several CreditorWatch products.

     

  • CreditorWatch Portal Refresh
    We will be refreshing our CreditorWatch portal to enable easier navigation and ability to upgrade plans, subscriptions and products. We will also enhance the user experience by improving the relevancy of products and tasks. 
Get in touch

For more information or to ask questions about CreditorWatch’s recent and future platform enhancements, get in touch here. 

business credit management product updates productivity
Agnes Eswono
Head of Product Marketing
Agnes brings expertise across credit risk management, fraud, identity verification and compliance. She is passionate about helping businesses minimise and manage risk in an efficient manner while also improving customer experience. Agnes shares insights on best-practice processes and solutions that will deliver meaningful results to businesses.
Contact Us

Want to access new features from this release?

You might also like

Hey, Wait…

Subscribe to our newsletter

You’ll never miss our latest news, webinars, podcasts, etc. Our newsletter is sent out regularly, so don’t miss out.