Through the use of monitoring tools, you are able to maintain a smooth and consistent cash flow. This is a core factor that determines the long-term survival of a business more than anything else. However, the reality of the situation, specifically in these turbulent economic times, is that it is becoming more and more difficult to maintain financial functionality and stability.
Cash flow needs to be monitored to make sure that your customers are paying you back on time and correctly. Any hiccup in repayments can significantly impact the stability and health of your cash flow. CreditorWatch’s monitoring and alerts tool helps you take a proactive approach to managing a ledger, pre-warning you with notifications before a customer has defaulted or collapsed. In extreme cases, a decline in cash flow can leaving a business unable to pay staff or pay for inputs and utilities, leaving the business with the only option to close.
The benefits of good cash flow
The benefits in media monitoring assists in maintaining a good cash flow in a marketing strategy and allows businesses to plan for the future with more certainty and grow and invest successfully.
This could be in investing in new technology or hiring extra labour, increasing your competitive advantage. By increasing the potential for a growth in cash flow and therefore your ability to keep ahead of the competition.
How can CreditorWatch help you stay ahead of competitors and improve cash flow?
CreditorWatch’s competitive monitoring and alerts tool allows you to protect your cash flow with 24/7 coverage of your customers’ and suppliers’ payment activity. We gather data from more than 50 public and private data sources including the ATO, the Australian Securities and Investments Commission (ASIC), the Australian Business Register (ABR), Australian Financial Security Authority (AFSA bankruptcy data), as well as public records from Australian courts and debt collection agencies.
CreditorWatch assists you in being proactive – through ongoing monitoring you can take a more proactive approach to managing your ledger. By being kept up to date with changes to your debtors’ financial position you can make decisions sooner to protecting your cash flow from late payments or non-payments.
The monitoring and alerts tool provides 24/7 coverage of your customer list, which means we keep an eye on your customers while you are sleeping give you more time to focus on growing your business. CreditorWatch sends real time alerts, including indicators of high risk such as deteriorating payment behaviour, payment defaults, RiskScore changes, court actions, administration appointments and more.
If you want to know more about CreditorWatch’s monitoring and alerts tool, click here for a free demo.
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