Blog

Business InsightsEconomic Snapshot

RBA to cut interest rates by 0.25% in July; Insolvencies continue to plateau at elevated levels

Tariff-related uncertainties and gyrations in markets took a back seat to a significant step up in geopolitical tensions and military conflict in the Middle East in June. Like the April tariff announcements, which were relatively quickly reversed or paused temporarily, the hostilities between Iran and Israel also relatively quickly de-escalated into a ceasefire following the US‘s targeted attacks on Iran’s nuclear facilities.

Jun 30, 2025

Business InsightsEconomic Snapshot

Unemployment remains unchanged, and low, at 4.1% in May

The good news again is the unemployment rate remained very low at 4.1% in May. While employment fell 2,000, this followed an outsized gain of 87,000 in April.

Jun 19, 2025

Business Risk Index

Stress subsides: Payment defaults drop sharply in May; Insolvencies stabilise

CreditorWatch’s May Business Risk Index data suggests tax cuts, interest rate relief, slower inflation and fiscal measures are having a positive impact on business conditions

Jun 18, 2025

Business InsightsEconomic Snapshot

May 2025 Economic Update: Trade truce, but for how long? Navigating a bumpier path to recovery

Where April was all about the imposition of - and financial market reactions to - President Trump’s higher than expected reciprocal tariffs and the subsequent escalating US-China trade war, May was the complete reverse.

May 29, 2025

Business Risk Index

Insolvencies still high but off the boil; One in 10 hospitality businesses close in the past year

The April Business Risk Index from leading credit reporting agency CreditorWatch reveals both good and bad news for Australian businesses. Encouragingly, the level of insolvencies has plateaued in recent months, albeit at high levels.

May 22, 2025

Chief EconomistInterest Rates

RBA cuts cash rate to 3.85% at May meeting

Markets were all but fully priced for such an outcome. CreditorWatch Chief Economist Ivan Colhoun believes this was the correct decision by the RBA and appropriately balances making further progress reducing inflation toward target.

May 20, 2025

Product Updates

April 2025 Product Updates

In our February 2025 release, we’ve focused on further automating your customer onboarding tasks and now, tackling fraud right from the very start – when you look to bring on a new customer!

Apr 29, 2025

Manage

How to calculate credit risk in the hiring and rental industry

The concept of risk walks hand-in-hand with the hiring and rental industry. Not only must regular payment be guaranteed, but you must also ensure the maintenance and safe return of any products rented.

Apr 17, 2025

Business Risk Index

B2B payment defaults 42% higher than a year ago as cost pressures mount; Trump trade war effects looming

CreditorWatch, has released the March results for its Business Risk Index (BRI), revealing that ongoing cost-of-living and cost of doing business pressures continue to drive elevated payment defaults between Australian businesses across a number of key sectors.

Apr 15, 2025

Chief EconomistInterest Rates

RBA holds cash rate at 4.1% at April meeting

Monetary policy is still restrictive, momentum in the economy is not strong, population growth is slowing

Apr 01, 2025

Economic SnapshotEconomic Update

Challenging conditions to continue, with the ‘Trump factor’ the big unknown

When forecasting I often like to: 1) identify the starting point for the forecast (the factors that have combined to produce the current business conditions); and 2) consider the big forces that are likely to affect the outlook.

Mar 27, 2025

Product Updates

March 2025 Product Updates

In our February 2025 release, we’ve focused on further automating your customer onboarding tasks and now, tackling fraud right from the very start – when you look to bring on a new customer!

Mar 27, 2025

CollectCollections

Why you should automate collections

Did you know that 54% of businesses expect late payments? This widespread issue hinders cash flow, which is why 87% of enterprises are modernising legacy systems within the next two years.

Mar 20, 2025

Business Risk Index

Record high hospitality closures in past year; Key measure of business stress leaps 47% year-on-year

CreditorWatch, has released the February results for its Business Risk Index (BRI), which reveal Australian businesses remain under pressure across key metrics. Cost increases and household cost-of-living pressures continue to impact the hospitality sector, with closures hitting a record high of 9.3%

Mar 19, 2025

CreditorWatchGreat Place to Work

CreditorWatch named a Best Workplace for Women by Great Place to Work Australia

CreditorWatch has been named one of the 2025 Best Workplaces for Women in Australia by Great Place To Work, the global authority on workplace culture.

Mar 07, 2025

Collect

4 Overdue invoice reminder email templates that really work

Strong cash flow is crucial for business success and longevity. But chasing outstanding invoices can prove difficult. Late payments are a real problem, particularly for small businesses. This is where a best practice overdue invoice reminders workflow comes into play.

Mar 03, 2025

Product Updates

February 2025 Product Updates

In our February 2025 release, we’ve focused on further automating your customer onboarding tasks and now, tackling fraud right from the very start – when you look to bring on a new customer!

Feb 27, 2025

Business Risk Index

Stronger start to 2025 for Australian businesses but tariff uncertainty looms; Food and Beverage Services sector registers record high business failures

CreditorWatch, has released the January results for its Business Risk Index (BRI), revealing positive signs for Australian businesses at the end of 2024 and early 2025. However, the improvements are likely to be short lived, with the proposed tariff regime of the Trump administration expected to hinder growth, particularly for export-reliant sectors such as manufacturing and transport.

Feb 20, 2025

Chief EconomistInterest Rates

RBA cuts interest rates by 25bps to 4.1%:

Most economists expected the RBA Board to vote to reduce interest rates at the February Board Meeting. Markets were almost fully priced for the outcome.

Feb 18, 2025

Business ConditionsChief Economist

Businesses report weaker business conditions in January

Extreme weakness in business conditions in mining drove this month’s slip in business conditions and looks to contain more noise than signal, though forward orders and profitability in mining have deteriorated so it’s not all noise.

Feb 11, 2025

Business ConfidenceChief Economist

Business confidence survey reveals a more positive 12-month outlook

The most interesting aspect of the NAB quarterly survey is the news that the number of firms reporting the availability of labour as a significant constraint remains a very high 34% and this has not changed over 2024. This is good news for job seekers and suggests the RBA does not have to engage in either a rapid or large series of interest rate reductions.

Feb 06, 2025

Chief EconomistConsumer Sentiment

Flat retail sales flat in December give RBA something to think about

Important data points like today’s Retail Sales data will enter the RBA’s thoughts as it decides whether to cut Australian interest rates at the February Board meeting in two weeks’ time.

Feb 03, 2025

RiskScore

Unlocking business potential with Custom RiskScores

Managing risk and making informed credit decisions are critical for long-term business success. Custom RiskScores are a powerful tool for businesses to increase predictability, streamline processes, and boost productivity.

Jan 30, 2025

ATO

A third of private businesses with ATO debt default of $100k or more close in past year

CreditorWatch's latest data on Australian Tax Office (ATO) tax debt defaults has revealed thousands of Australian private businesses have collapsed over the past 12 months after failing to address significant tax debts with the ATO.

Dec 20, 2024

Credit Management

What is a Small Business Restructure (SBR)?

Small Business Restructuring (SBR) is a legal framework introduced in Australia in January 2021 as part of insolvency reforms aimed at supporting small businesses facing financial distress.

Dec 19, 2024

Collect

Automated accounts receivable: Why accounting software alone doesn’t offer best practice

Off-the-shelf accounting software has revolutionised the ease with which small businesses can manage their finances.

Dec 18, 2024

Credit Management

Eight ways to avoid the Christmas cash flow crunch

The festive season is generally a time for family, friends, and some much-needed rest. Unfortunately, many Australian business operators won’t be able to shut down and switch off this year.

Dec 17, 2024

Business Risk Index

Tough start to 2025 ahead for Australian businesses; sector outlook worst for hospitality

CreditorWatch, has released the November results for its Business Risk Index (BRI) with all key metrics pointing to an extremely challenging start to 2025 for Australian businesses, particularly small businesses.

Dec 12, 2024

Chief EconomistInterest Rates

RBA board gaining confidence that inflation is moving towards target

The board has gained some confidence in the recent forecasts that show inflation tracking back towards the 2-3% target.

Dec 10, 2024

AICredit Management

Harnessing generative AI to enhance credit risk assessment

We’ve long been at the forefront of using AI to enhance credit risk assessment at CreditorWatch. Our machine learning (ML) models are the cornerstone of our credit scoring system, providing businesses with accurate and reliable risk assessments.

Dec 10, 2024

Business Risk Index

Business failures at highest rate since peak of pandemic; Soft household spending hitting hospitality hardest

CreditorWatch, has released the August results for its Business Risk Index (BRI) revealing that the rate of business failures is at its highest level since January 2021, when Australia was in the midst of the COVID-19 pandemic.

Nov 20, 2024

Chief EconomistInterest Rates

Interest rates on hold as RBA inflation concerns persist

The decision by the RBA to hold was favoured by economists and priced by the markets and likely reflected the at forecast 0.8% q/q trimmed mean outcome for Q3.

Nov 05, 2024

Chief EconomistCPI

Inflation drops to 3.5 year low but slow progress on return to target

The 0.8% trimmed mean outcome probably does just enough to avoid a surprise rate rise next week, but shows only continuing very slow progress in returning inflation to target, especially with the possibility of some bias lower from the presence of the big electricity subsidies in the quarter.

Oct 30, 2024

Chief EconomistIndustry Performance

CreditorWatch rates 16.2% of hospitality businesses as high risk or above; Forecast closure rate of 8.9% over next 12 months for the sector

CreditorWatch, has released its latest industry risk ratings, revealing businesses in the hospitality sector are currently exhibiting an extremely high level of risk compared to other sectors.

Oct 28, 2024

Business Risk Index

Overdue B2B payments at highest rate since March 2021; Construction and hospitality sectors top payment defaults

CreditorWatch, has released the September results for its Business Risk Index (BRI), revealing that late payments are at their highest rate since the end of JobKeeper in March 2021, as more businesses struggle to pay outstanding invoices.

Oct 16, 2024

Business Risk Index

Business failures at highest rate since Jan 2021; B2B payment defaults hit record high

Credit reporting bureau, CreditorWatch, has released the August results for its Business Risk Index (BRI) revealing that the rate of business failures is at its highest level since January 2021, when Australia was in the midst of the COVID-19 pandemic.

Sep 18, 2024

AI

Larger businesses lead AI adoption, while digital transformation barriers hold others back

Larger businesses are driving the adoption of new technologies across Australia, with AI the primary technology industries are adopting to enhance competitiveness, according to newly released findings from CreditorWatch and its Business Sentiment Survey

Sep 11, 2024

AICredit Management

How AI reduces risk through proven and reliable credit scoring

CreditorWatch’s market leading combination of unique data, cutting-edge technology and deep industry expertise sets us apart. We have a team of Data Scientists who play a crucial role in training and refining our AI models.

Sep 06, 2024

ATO

Thousands of businesses close after racking up massive tax debts

New data from CreditorWatch reveals that thousands of private Australian businesses have failed in the past six months after defaulting on massive tax debts.

Sep 04, 2024

RiskScore

How does CreditorWatch’s RiskScore credit rating system work?

CreditorWatch’s RiskScore available on all its credit reports, indicates a business’ creditworthiness and predicts the likelihood of default in the next 12 months.

Aug 14, 2024

Credit applicationsCredit Management

Credit applications and electronic signatures: Is it legal for my customer to sign electronically?

Four years after the pandemic, we are still coming to grips with how business and work has changed. In bygone days, a person would accept a transaction simply using their mark, seal or signature.

Aug 07, 2024

Credit ManagementPersonal guarantees

Make trusts great again - how to avoid confusion when dealing with them

One question clients often ask us is, “What is my position when my customer is a trust”? Trusts can cause confusion and misunderstanding, often because they are less transparent than other business structures and the concepts can be hard to understand.

Aug 05, 2024

bad debtCredit Management

Are your personal guarantees worth the paper they’re written on?

A common feature of the onboarding process for many suppliers is a personal guarantee taken from an owner or director of the company customer. These personal guarantees can lie dormant for months and years on end until the customer can’t (or won’t) pay any longer.

Aug 01, 2024

Business ConditionsCreditorWatch

Small businesses struggling with financial confidence

Australian small businesses are much less confident about their financial health than larger businesses, according to CreditorWatch’s Business Sentiment Survey.

Jul 25, 2024

bad debtCash Flow

PPSA: Top 10 risk in your Terms & Conditions (and how to avoid them)

For suppliers of goods and equipment, the Personal Property Securities Act 2009 (Cth) (PPSA) is a fundamental requirement to protect you if your customer becomes insolvent. After all, the PPSA has been active since 2012 - well over a decade!

Jul 19, 2024

Business ConditionsBusiness Insights

Business Risk Index, June results: Value of business orders at record low; 12-month forecast for hospitality failures rises to 9.1%

Credit reporting bureau, CreditorWatch, has released the June results for its Business Risk Index (BRI) which reveal a dramatic and concerning drop in the value of invoices held by Australian businesses as declining consumer demand forces cuts to inventory.

Jul 16, 2024

AML (Anti-Money Laundering)AML/CTF

Managing risk: Is your AML/CTF compliance up to scratch?

In today’s interconnected financial system, businesses face an ever-evolving landscape of risks. Among these is an area little discussed in small business circles: money laundering and illicit financing.

Jul 10, 2024

Onboard

Electronic signatures: Are they legally accepted in Australia? 

Electronic signatures are critical to doing business efficiently through online channels. Customers expect a convenient way to sign documents without having to print, sign and scan documents.

Jul 05, 2024

ApplyEasyCreditorWatch

New ApplyEasy Features - July 2024

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.

Jul 03, 2024

Product Updates

A better way to register on the PPSR - available now!

New Creditorwatch feature enables businesses to register their security interests on the PPSR via Customer Onboarding Solution, ApplyEasy.

Jul 03, 2024

bad debtCash Flow

Bad debts at EOFY: Five reality checks from your lawyer (and what you can do about them)

We know that margins are currently slim. Consumers are tightening their belts in response to interest rate hikes and inflated prices on essential goods, including groceries and utilities. Businesses in industries across the board are also dealing with challenges such as price rises, increased labour costs and higher interest rates, which is elevating their levels of credit risk.

Jun 28, 2024

Business ConditionsBusiness Insights

Business insolvencies surge to record high - rate increases 38% on average across all industries

Credit reporting bureau, CreditorWatch, has released the May results for its Business Risk Index (BRI), revealing that insolvencies for Australian businesses are now at a record high as the impacts of stubbornly high inflation, interest rate increases and declining consumer demand squeeze margins.

Jun 18, 2024

Cash FlowCredit Management

Tactics to propel your business through tough times

We know that margins are currently slim. Consumers are tightening their belts in response to interest rate hikes and inflated prices on essential goods, including groceries and utilities. Businesses in industries across the board are also dealing with challenges such as price rises, increased labour costs and higher interest rates, which is elevating their levels of credit risk.

Jun 07, 2024

Cash FlowCredit Management

The impact of late payments on cash flow and what to do about it

Late invoice payments are among the most challenging factors to manage when running a business. They create uneven cash flow, which can have a number of serious flow-on effects such as problems paying invoices and costs such as wages and utilities, difficulty planning for the future and, in extreme cases, can even force businesses to close down.

May 24, 2024

Business ConditionsBusiness Insights

One in 13 hospitality businesses facing failure in 12 months; B2B payment defaults hit record high

Credit reporting bureau, CreditorWatch, has released the April results for its Business Risk Index, revealing that hospitality businesses (food and beverage services) are most vulnerable to current economic conditions by a significant margin over other industries, with a 7.45 per cent chance of failure over the next 12 months.

May 21, 2024

CreditorWatch

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.

May 16, 2024

API Integration

Why choose CreditorWatch’s APIs? 

Application Programming Interfaces - or APIs - are the cornerstone of seamless communication and collaboration between applications and software systems. APIs can empower businesses to adapt to changing market dynamics, improve operational agility, and provide enhanced customer services.

May 10, 2024

CreditorWatchDebt Collection

New CreditorWatch tool helps business get paid

CreditorWatch, a leading Australian commercial credit reporting bureau, today launches a new debt recovery tool, Debtor Management to help finance teams and small business owners (SBOs) and operators recover a larger proportion of overdue debt.

May 08, 2024

CreditorWatchDebt Collection

The importance of an efficient debt collection process

Outstanding invoices and late-paying clients are frustrating for businesses of every size. In a challenging business environment, establishing an efficient debt collection process can mean the difference between growing your business and struggling to keep the lights on.

Apr 29, 2024

CreditorWatch

Newsletter: Legal Pulse

Where do we start? The cost-of-living crisis, rising interest rates and an increase in collection activity by the ATO are just some of the challenges facing businesses in Australia today.

Apr 15, 2024

ComplianceLegal

Dealing with an ATO Director Penalty Notice

It’s been widely reported that the ATO is increasing its debt collection activity after holding off taking action during the COVID pandemic. Companies running a business will incur certain tax debts that need to be reported and paid to the Australian Taxation Office (ATO), including PAYG withholding payments and superannuation guarantee payments on behalf of employees, as well as any GST payable by the company.

Apr 15, 2024

ComplianceLegal

Why valid PPS registrations are so important

A recent PPSA decision has highlighted the need for businesses to make sure they know their own entity details so that they are creating valid registrations. Check your own details, particularly if you are trading as a trust.

Apr 15, 2024

ComplianceLegal

Keeping things private - a guide to privacy compliance

It’s weird isn’t it, how keeping personal information private requires transparency. Who knew? Here’s a fun fact: Privacy Awareness Week (“PAW”) will be held this year from Monday 6 May 2024 until Sunday 12 May 2024. “Is this important?” we hear you ask, and “Why should I care?”

Apr 15, 2024

ATOTax

FAQ: ATO tax debt disclosures

The ATO has been increasing its rate of public disclosure of outstanding tax debts from Australian businesses as it seeks to reduce the more than $34 billion owed to it by SMEs.

Apr 11, 2024

Employer of ChoiceGreat Place to Work

CreditorWatch awarded 5-Star Employers of Choice award

CreditorWatch is thrilled to announce that it has been honoured with the prestigious HRD 5-Star Employer of Choice award, celebrating its commitment to nurturing an exceptional workplace culture. At CreditorWatch, our people make the difference, and we prioritise their wellbeing and development above all else. From comprehensive benefits to meaningful learning and development programs, we ensure that every team member feels valued and supported.

Apr 09, 2024

Cash FlowCash management

Implementing best practice debtor management

For business owners, smooth and even cash flow is crucial for the growth and success of your operation. However, when faced with challenges like late payments on outstanding invoices, businesses may experience disruptions that ripple through operations, hindering growth opportunities and jeopardising their chances of success.

Apr 05, 2024

CreditCredit Management

How creditworthy is my business? 

When it comes time to access credit or engage with new suppliers and trading partners, your company credit history can be as important as your reputation in the industry. If you’re unaware of your business’s creditworthiness, you may struggle to gain favourable financing terms or establish a foundation of trust with stakeholders.

Mar 07, 2024

Cash FlowFinance

Keeping a lid on rising costs

With small businesses facing rising costs, greater focus is needed on keeping control of business finances and ensuring the business continues to be profitable.

Feb 22, 2024

Credit ratingCredit Reports

How to check a business credit score

One of the easiest and most effective ways to engage with any new customers or suppliers, is to check a business’s credit score as this is the benchmark for its financial health.

Feb 02, 2024

Cash FlowCreditorWatch

11 signs of financial distress in a business 

Businesses in Australia are currently experiencing challenging economic conditions. When performing customer due diligence, it’s important to note that there are always tell-tale signs that companies display when in financial distress.

Jan 29, 2024

Credit ManagementCredit Risk

How to create a best practice credit policy 

If you’re looking to safeguard the financial health of a business and improve customer relationships, establishing well-defined credit procedures and credit policy is crucial. A credit policy acts as a blueprint for how your business extends credit to customers.

Jan 16, 2024

CreditorWatchSmall Business

How to spark creativity for business growth

If business growth has plateaued, and your business feels like it is just going through the motions, it might be time to give it a new lease on life. For many small businesses, there comes a point in the business life cycle where they feel like progress has stopped.

Jan 10, 2024

CreditorWatchPodcast

Five best Australian business podcasts to check out over the holidays 

With the holiday season in full swing, there's no better time to reset and get reinvigorated with the best insightful and informative business podcasts to provide you with fresh ideas for the year ahead.

Jan 08, 2024

CreditorWatchDue Diligence

What is an adverse cross directorship? 

A ‘cross directorship’ refers to when an individual is the director of more than one company. While this is not always a red flag for financial risk, it can become one if that director has a history of poor payment behaviour, fraud or misconduct within that other business and you’re unaware of these transgressions.  

Jan 04, 2024

CreditorWatchRisk Management

Four Fintech trends to watch in 2024 

As the curtains draw on 2023, Australian Fintech companies look to the future to see which opportunities and innovations will emerge to transform the finance sector.

Dec 27, 2023

CreditorWatchRisk Management

Reducing risk to start 2024 off on the right foot 

Times have been tough for Australian retailers as cost-of-living pressures force consumers to tighten their belts. In this article, we look at how retailers can set themselves up to start 2024 in the strongest possible condition.

Dec 17, 2023

Cash FlowCash management

Late Payments Survey Results: How Australian businesses are faring

Late payments can be crippling businesses, particularly those operating on tight margins, such as SMEs. This pressure intensifies during the summer holiday season, a period that traditionally sees an increase in late payments and payment defaults as many businesses shut down for the period with unpaid invoices.

Dec 08, 2023

Cash FlowCash management

10 ways to keep cash coming in over the holiday period

The holiday season can be a double-edged sword for SMEs: you need to take time to celebrate the year that was, while having to juggle unpaid invoices and stagnating cash flow.

Dec 06, 2023

CreditCredit Management

Improving your chances of securing business credit

A strong credit profile is one of the cornerstones of a successful business. As with an individual credit score, having an excellent business credit profile will mean the business is more likely to gain approval for financing, such as a line of credit or business loan, or more favourable terms with suppliers.

Nov 24, 2023

ASICBusiness Insights

Managing a Strike Off Action in Progress: What to do next

A successful strike-off action indicates that the Australian Securities and Investments Commission (ASIC) has taken the necessary steps to deregister a company formally. This implies that the business name has been struck from the Australian Business Registry (ABR) and all associated parties, be they employees or creditors, have been notified of the winding up of the company.

Nov 16, 2023

Business InsightsCreditorWatch

Major update to unfair contracts laws: A fair go all round

Significant changes to the unfair contracts regime come into law today, with new multi-million penalties for companies and individuals forcing trading partners to sign contracts that are deemed unfair. Are your contracts fair and equitable?

Nov 09, 2023

accounts receivableCredit control

Automated accounts receivable: Why accounting software alone doesn’t offer best practice

Off-the-shelf accounting software has revolutionised the ease with which small businesses can manage their finances. From tracking your finances and making reconciliation smoother to accounts payable and staff payroll, ERPs (enterprise resource planning) and accounting software like Xero, MYOB and QuickBooks makes doing business easier than before.

Oct 30, 2023

CreditorWatchDue Diligence

The benefits of digital onboarding for business 

Sales have done their part. The customer is hooked, they’ve reeled them in and now it’s over to you, accounts, to double check their credentials and, if they are a desirable customer, get them set up ASAP.

Oct 22, 2023

Credit ManagementCredit Risk

Why getting all the right info in an application form is super important

Of course it’s important to gather the right information when onboarding a new customer. Without it, you might not be able to set them up properly in your customer relationship management (CRM) system.

Oct 18, 2023

CreditorWatchDebt Collection

Navigating tax debt: A comprehensive insight into the Australian Taxation Office's approach

In the complex landscape of tax obligations, the Australian Taxation Office (ATO) aims to employ a strategic approach to debt management, carefully crafted to cater to the diverse needs of businesses while maintaining fairness and equity.

Oct 11, 2023

Credit ManagementCreditorWatch

What to do when customers won’t pay 

If you've ever encountered non-paying customers, you're not alone. It's an unfortunate reality of dealing with clients on credit terms – some of them, when the work is done or the product is delivered, refuse to pay.

Oct 04, 2023

Credit ReportsDue Diligence

Deep due diligence for savvy businesses

What you see on the surface is not always what you get, especially when it comes to other businesses. Here's why the due diligence process is an important step in a business relationship.

Sep 28, 2023

CreditorWatchPPSR and PPSA

PPSR: Protecting your interests during customer onboarding  

The PPSR, the government Personal Properties Securities Register, is akin to home and contents insurance. It should be quick to set up and, once done, will protect you in case of an adverse event (for example insolvency).

Sep 21, 2023

ApplyEasyAutomation

New customer application forms: The importance of the right information  

Capturing relevant information when completing customer onboarding smooths the experience across four key areas of the onboarding stage; compliance or due diligence, credit risk, employee experience and customer satisfaction.

Sep 12, 2023

CreditorWatchDue Diligence

The role of due diligence in combating illegal phoenixing activity

It's an occurrence seen all too frequently within wholesale trade and retail in Australia. A trading partner with high levels of outstanding debt goes insolvent, only then to re-emerge under a new name with the slate somehow miraculously wiped clean.

Sep 07, 2023

Credit ManagementCreditorWatch

Trade payments data: Why is it so important?

Imagine if you could look into a crystal ball, see into the future and know whether your trading partners were going to pay you on time. While it can’t 100% guarantee outcomes, trade payments data is as close to a crystal ball as you can get when it comes to credit control and looking into the health of a business’s bank account.

Sep 06, 2023

CreditorWatchRisk Management

Why businesses should implement an end-to-end credit management solution

For businesses that trades credit with customers, staying ahead requires more than just ambition – it requires smart decision-making, streamlined processes, and a keen awareness of risk.

Sep 03, 2023

Credit ManagementCredit Risk

Does a business loan affect personal credit?

The line between personal and business matters often becomes unclear, leading entrepreneurs and business owners to question the potential impact of a business loan on their personal credit score.

Aug 24, 2023

CreditorWatchRisk Management

Why you need to manage credit risk throughout the customer lifecycle 

A lot can change across a customer’s lifecycle, whether that’s over a few months or 10 years. Just because a customer was in a strong financial position when you completed due diligence and ran their business credit check, doesn’t mean they’ll be as financially strong five years down the track.

Aug 16, 2023

CreditorWatchRisk Management

What’s an ideal credit risk management process? 

Whether you’re a long-time credit controller, a new business owner or a seasoned finance manager, a clear, consistent credit risk management process is key to doing more business, with the right customers, and getting paid faster.

Aug 03, 2023

Due DiligenceFraud

Fraud in Australia - Everything you need to know 

Fraud has become an increasing concern for Australian businesses as criminals incorporate more sophisticated techniques into their scams.

Aug 01, 2023

CreditorWatchNews

Guide: Safeguarding your business from insolvency

To empower business owners and credit professionals in navigating insolvent trading partners, we've compiled a comprehensive and data-driven report: 'Safeguard your business from insolvency', enriched with insights from industry experts.

Jul 26, 2023

CreditorWatchFinancial Risk Assessment

How Financial Risk Assessments can power up your onboarding process

In the ever-changing realm of finance, where uncertainty looms and economic conditions can shift rapidly, conducting proper due diligence of vendors and customers through financial risk assessments (FRAs) has never been more important.

Jul 24, 2023

Credit ReportsCreditorWatch

When do credit card companies report? 

Credit card companies pass a large amount of consumer and business data on to credit reporting agencies and bureaus, such as CreditorWatch, to inform their credit scores and debtor risk analysis. Each credit reporting body has independent in-house policies for collecting this data, including the frequency, time points of collection, and sources.

Jul 17, 2023

Onboard

KYC requirements in Australia - What are they and why do they matter? 

‘Know Your Customer’ (KYC) compliance involves meeting the standards set by regulators for customer verification and identity checking, depending on your type of business, service provided and industry. Enforcing KYC checks allows regulators and authorities to mitigate criminal activity such as money laundering and the financing of terrorism.

Jul 17, 2023

CreditorWatchCreditorWatch Collect

How do debt collectors find you in Australia? 

Typically in Australia, when a debt collector takes up the collections effort for a creditor (or buys the remainder of the debt), the creditor will provide them with any contact details it has on file. If this is insufficient or the debtor’s details have changed, the collections agency or creditor may use search tools such as CreditorWatch’s business search portal to find missing information. In certain circumstances, a creditor or debt collector can apply to a court for a ‘substituted service’, allowing them to attempt contacting a debtor via less traditional means such as social media.

Jul 13, 2023

CreditorWatchCreditorWatch Collect

How to deal with debt collectors

When a business, bank, credit union or lender have exhausted their in-house options to recover money owed, they turn to a debt collection service for debt recovery in Australia. These agencies and providers follow up on late or non-paying debtors, either for a fee to the creditor or after buying the remainder of the debt outright.

Jul 12, 2023

Debt Collectiondebtor management

Debt collection agencies in Australia 

A debt collector represents a last resort for creditors seeking payment from unwilling or late paying debtors.

Jul 05, 2023

Lenders InsightsMedia Release

CreditorWatch partners with Credit Sense to expand end-to-end commercial credit risk management offering

CreditorWatch helps business lenders provide faster loan approvals by completing loan affordability assessment in just minutes, instead of hours

Jul 03, 2023

Debt Collection

What happens if a debt collector cannot find you in Australia? 

Even if a debtor changes address or other details, debt collectors can still attempt to serve legal documents via several different means. Remaining uncontactable does not instantly wipe the debt, and you may be liable for further legal action or asset seizure in the future.

Jul 03, 2023

Credit ratingCredit Reports

How often does your credit score update?

Because the data sources and time points for collection vary from one reporting agency to the next, there is no universal standard for when credit scores update.

Jun 28, 2023

Credit Reports

Annual credit reports in Australia - What are they and how to access them

A credit report provides insight into a business or individual consumer’s risk as a trading partner or debtor.

Jun 28, 2023

Cyber-securityFraud

Fake bank accounts - What to do about fraudulent banking accounts

There has been a steady rate in the reporting of criminals using false or stolen identities over recent years.

Jun 28, 2023

Debt Collectiondebtor management

Can debt collectors charge interest Australia?

In Australia, a debt collector or collections agency cannot charge additional fees or interest to the debtor beyond those outlined in the original contract.

Jun 18, 2023

Business InsightsSmall Business

Australia’s unfair contract terms regime changes significantly

The ‘unfair contract terms’ laws (as set out in the Australian Consumer Law (ACL) establish out a regime whereby a term in a consumer or small business contract will be void if the term is unfair and the contract is a standard form contract.Australia’s Unfair Contract Terms regime (UCT) has now been significantly expanded in respect of ‘small businesses’. The changes were passed by Parliament on 28 October 2022 and will come into effect on 9 November 2023.

Jun 16, 2023

InsolvencyNews

Insolvency warning signs – what to look out for over the remainder of 2023 and beyond

This year has already thrown up a number of challenges for business and individuals alike. Continued inflation, rising interest rates, supply chain issues, labour shortages and extreme weather have all meant that a large number of companies have and will continue to face various challenges that can lead to financial distress, including insolvency.

Jun 13, 2023

Due DiligenceInsolvency

Insolvency Notices Alert: What is it and how does it work?

In Australia, an insolvency notices alert is a notification service provided by different companies such as CreditorWatch, to alert subscribers to new insolvency notices related to companies or individuals such as external administrations, winding up applications (voluntary or court mandated), and proposed company deregistrations.

Jun 07, 2023

CreditorWatchDebt Collection

Fees for debt collection: How much does a debt collector cost?

Dealing with overdue payments is an unfortunate reality for many businesses, particularly in tough economic conditions. When efforts to collect debts internally prove ineffective, enlisting the services of a debt collector becomes a viable option.

Jun 06, 2023

Cash FlowFinance

Invoice financing for small business - What is it and how does it work?

Invoice financing for small business is a common method of financing for small businesses. Also known as business invoice finance, it provides access to immediate cash funds.

Jun 06, 2023

Collect

What can debt collectors do if you don't pay? 

The actions debt collectors can take if you don’t pay a debt depends upon the severity of the debt, and the extent that the payment is delayed.

May 27, 2023

Credit ManagementCredit Reports

Credit check organisations in Australia - Who are they and what do they do? 

Credit checking for Australian businesses is the speciality of the CreditorWatch team. Credit checking due diligence helps creditor companies, lenders, and banks create a clear picture of borrower risk. This analysis helps determine what credit terms to extend to debtors, if any.

May 26, 2023

Credit ReportsRiskScore

How to check credit references for businesses 

Running a credit check on a business is essential for proactive risk mitigation strategies. Checking credit scores for businesses is made intuitive with the advanced RiskScore platform from CreditorWatch. You can check the creditworthiness of any existing or prospective company client with a simple ABN or ACN search, and better inform your decisions with sophisticated data. Read on to learn how to do a credit check in our guide below.

May 25, 2023

Business Insightsfinance career

Empower your Career: The Vital Role of Mentoring, Networking and Being Visible

In today’s job market, building a strong network and finding a great mentor are critical to achieving your goals. This is especially true now that the job market is more competitive than ever before, with hundreds of qualified candidates vying for the same positions.

May 24, 2023

CreditCredit control

Good debt vs bad debt: What is the difference?

Good debt refers to borrowing that can generate long-term benefits and enhance a business's financial position. In contrast, bad debt refers to borrowing that does not contribute to the growth or profitability of a business and can potentially harm its financial health.

May 22, 2023

Credit ManagementCredit Risk

How to manage the fintech margin squeeze

The tech industry has long been associated with relentless investment and rapid growth. However, amid rising interest rates and difficult market conditions, the global fintech market is facing increasing challenges. It is crucial for industry players to reassess their strategies and prioritise sustainable growth. In an insightful article for FinTech Australia titled 'How to manage the Fintech margin squeeze’, our Enterprise Account Director, Stirling Streeter, delves into the consequences of the ‘growth at all costs’ mindset and offers valuable guidance on risk mitigation.

May 22, 2023

Credit controlCredit Management

How to give someone a bad credit rating in Australia

As a business or individual consumer, you cannot manipulate someone else’s credit score. However, you can alert reporting bodies, such as CreditorWatch, of negative payment behaviour or adverse events to inform their analysis.

May 19, 2023

Credit ReportsDebt Collection

How much does Afterpay charge retailers? Merchant fees explained 

Afterpay took the Buy Now, Pay Later (BNPL) services market by storm when it was launched in Australia in 2014, appealing to young consumers with the prospect of interest and fee-free payments (if made on time). To make a profit, most of Afterpay’s revenue comes from merchants, with a flat merchant fee of $0.30 and a 4-6% commission based on the value of the sale. Late charges from customers also account for a proportion of its income.

May 19, 2023

Credit ManagementCredit Reports

Credit reference check: What is it & how does it work? 

A credit reference check, or credit report check, describes accessing a business or individual’s credit file with a reporting body. Australian companies can sign up for a free trial of the credit reporting tools from CreditorWatch to check the creditworthiness of trading partners before extending terms. Conducting this due diligence allows for proactive corporate risk management, avoiding risky debtors before they threaten vital cash flow.

May 17, 2023

Cash managementCredit control

How to check a credit history in Australia - A step-by-step guide

Credit reporting agencies in Australia, such as CreditorWatch, analyse enormous datasets to generate credit scores for businesses or individual consumers. Companies, banks, lenders and other creditors use this information to determine the suitability of debtors and applicants for loans.

May 16, 2023

Credit RiskFinancial Risk Assessment

What is financial risk?

Financial risk is the potential for loss or adverse consequences resulting from inadequate or failed financial decisions, investments, or operations. It encompasses various factors that can impact a company's financial stability and profitability.

May 15, 2023

Credit ManagementCredit rating

Best credit repair companies in Australia

In today's financial landscape, maintaining a healthy credit score is crucial for accessing various opportunities, from securing loans to renting an apartment. Unforeseen circumstances or past financial mistakes can leave individuals burdened with a less-than-ideal credit history. This is where credit repair companies step in, offering their expertise to help individuals repair and restore their creditworthiness. In this article, we will delve into the world of credit repair companies, exploring their purpose, operations, benefits and the signs of reputable service providers in Australia.

May 15, 2023

CreditCredit Risk

What is credit risk?

For businesses, credit risk is the risk of loss that arises from a customer, partner, or supplier failing to fulfil their financial obligations to the company.

May 13, 2023

Cash FlowCash management

Example of financial risk - how does it work?

The term ‘financial risk’ refers to the potential for a loss of earnings or income. The higher the likelihood or severity of that outcome, the greater the financial risk. Businesses and individuals alike must responsibly manage their exposure to these risks to mitigate the prospects of insolvency, default or bankruptcy.

May 12, 2023

Credit ReportsCredit Risk

How to check a business credit report - A step-by-step guide

A credit report details a potential borrower or debtor’s risk to the lender or creditor. A credit reporting agency, such as CreditorWatch, analyses large subcategories of business data to generate our reports and credit scores for Australian companies.

May 12, 2023

Credit ManagementCreditorWatch

The CreditorWatch difference

At CreditorWatch, we understand and value the confidence you place in us when you register to use our platform. We know that you rely on us to support your business with credit risk management tools that help you protect and grow your business while ensuring that your data is safeguarded with gold-standard security protocols.

May 11, 2023

ConstructionInsolvency

What is the way forward for the construction industry?

At CreditorWatch, we understand the current challenges faced by construction firms in Australia. That's why we are excited to announce the release of our latest report, 'Cracks in the Foundations 2023.' This comprehensive report provides valuable insights and guidance to help businesses navigate the tough trading environment and kickstart growth. Download the free report here: https://creditorwatch.biz/3NCuest

May 11, 2023

accounts receivableCash Flow

Accounts receivable turnover ratio formula and calculation

The accounts receivable turnover ratio is a financial metric used to measure the efficiency of a company's collection of its outstanding customer invoices.

May 08, 2023

Credit RiskFinancial Risk Assessment

Managing financial risk - What is it and how does it work? 

The term ‘risk’ refers to the probability of an adverse outcome occurring. The higher that probability, the riskier the activity. ‘Financial risk’ applies that concept to a potential loss of income or revenue for a business or individual.

May 08, 2023

Cash FlowCash management

Debt collection in Australia - How does it work?

Debt collection describes recovering overdue funds owed to a creditor, administered by a third party for a fee. If a business or individual considers themselves unable to recoup money owed after taking steps to collect it - they may decide to contract the services of a debt collector.

May 04, 2023

PPSR and PPSA

PPSR - What is the Personal Property Securities Register?

A security interest is a debt or obligation secured by personal property (known as collateral) as defined by the Australian Financial Security Authority (ASFA). In the event that a debtor fails to meet their obligations, such as defaulting on payments, the secured creditor can take possession of the collateral.

May 03, 2023

Due DiligenceOnboarding

Customer due diligence – what is it and how does it work?

Customer due diligence (CDD) is the process of verifying the identity of a customer, assessing the potential risks associated with their activities, and determining whether their behaviour and transactions are consistent with their known or stated activities.

May 02, 2023

Credit controlCredit Management

How to run a credit check on a business

Running a credit check on a prospective new client can help a business mitigate the risk of bad debt. However, some companies may find this exercise intimidating or confusing. Luckily, the credit reporting suite from CreditorWatch takes the hassle out of this essential process.

May 01, 2023

Credit RiskRisk Management

Financial risk - What is it and why is it important?

Financial risk represents the likelihood of an unfavourable outcome relating to personal or business decisions. The higher the financial risk exposure, the greater the chance of losing money or becoming indebted.

May 01, 2023

CreditCredit rating

Does closing a credit card hurt your credit score?

Closing a credit card account may impact an individual or business’s credit scores, depending on the nature of the closure. Any credit account closure can affect credit scores to some degree, as reporting bureaus look favourably on maintaining regular payments on these products, and you will subsequently have less information on file.

Apr 30, 2023

Business ConditionsEconomics

What happens in a recession

Historically, an economic recession is declared once a country or state records two consecutive quarters of negative growth in Gross Domestic Product (GDP).

Apr 30, 2023

Cash FlowCash management

Business credit cards - Top 5 options for a company card

A business credit card allows a business owner or one of their nominated staff to purchase items on credit. The balance of this credit gets settled at the end of the statement period, which may vary from one credit product to the next.

Apr 29, 2023

AML (Anti-Money Laundering)AUSTRAC

UBO Meaning - What is ultimate beneficial ownership?

Ultimate Beneficial Ownership (UBO) describes the controlling beneficiaries - individuals, companies, or groups - that ultimately collect profit when a business conducts a transaction.

Apr 29, 2023

AML (Anti-Money Laundering)AUSTRAC

What is a beneficial owner of a company?

A company's beneficial owner is an individual or entity with a large share of ownership or control over its management, often without public disclosure.

Apr 27, 2023

accounts receivableCash Flow

Credit control policy and procedures

Credit control is the process of getting payment from customers that you’ve extended credit to. Extending credit is a common and necessary business practice.

Apr 27, 2023

accounts receivableCash Flow

What is bad debt? Definition, meaning and examples

What is a bad debt? It is simply credit that you’ve extended (i.e. your accounts receivables) that you can no longer collect on.

Apr 27, 2023

accounts receivableCash Flow

Is accounts receivable an asset or liability?

Accounts receivable is an asset because it is money owed to a company. It should result in cash inflow for the company in the near future.

Apr 18, 2023

Cash FlowCash management

How CreditorWatch protects businesses, while saving them time and money

A common struggle facing small business owners is juggling the need to protect cash flow from risky trading partners, with the lack of time and resources available to manage this risk properly.

Apr 11, 2023

CreditCredit control

What is a credit report?

A credit report is a detailed record of a business or individual's credit history, which includes information about their credit accounts, credit inquiries, and payment history. This report is compiled by credit reporting agencies, such as CreditorWatch, based on the data provided by lenders, credit card companies, and other creditors.

Apr 05, 2023

CreditLending

What does comparison rate mean?

A comparison rate is a financial term used to describe the true cost of a loan or other financial product, including both the interest rate and any associated fees or charges

Mar 31, 2023

CreditCredit control

Credit score vs credit rating vs credit report - What is the difference?

Getting your head around the ins and outs of credit reports can be challenging, especially the differences between key terms, such as credit report vs credit score. Let’s break down everything individuals and businesses need to know about credit reports.

Mar 31, 2023

accounts receivableCredit control

What is credit management?

Credit management is the process of managing the credit risk associated with extending credit to customers or clients. Its main purpose is to ensure that businesses can collect payments for goods or services provided to customers within a reasonable period of time, while minimising the risk of late payments, defaults and bad debts.

Mar 31, 2023

Cash management

Applying for a business credit card - How to get approved (step by step) 

A business credit card works like a personal credit card, in that it allows an owner or employee to make company purchases on credit, which should be repaid to the card provider at the end of the statement period.

Mar 30, 2023

FinanceLending

Mortgagee vs Mortgagor - What is the Difference? 

Q: What is the difference between a mortgagee and a mortgagor? A: A mortgagee is a lender or financial institution that provides a loan to purchase a property. A mortgagor is a borrower who receives a loan, using their assets as collateral.

Mar 30, 2023

Cash FlowFinance

Best secured business loans in Australia - Everything you need to know 

When a business applies to a bank, lender or credit union for additional funds, it is applying for a business loan.

Mar 29, 2023

CreditorWatchCyber-security

Proactive measures to tighten up your cyber-security - Q&A

According to the latest annual cyber-threat report from the government cyber-security agency, the ACSC (Australian Cyber Security Centre), cybercrime increased 13% over the last financial year with a rise in the sophistication of cyber threats, making crimes like ransomware and fraud easier to replicate at a greater scale.

Mar 29, 2023

accounts receivableCash Flow

What are accounts receivable and why are they important?

The accounts receivable definition is the money owed to your company by customers for the goods or services you’ve provided, but for which they are yet to pay.

Mar 28, 2023

Cyber-security

Identity theft in Australia - How to check if someone is using my identity? 

A serious crime in Australia, identity theft has become a more pressing issue as customer information is increasingly stored online, as shown by recent hacks to Optus and Medibank.

Mar 28, 2023

Finance

Secured vs unsecured loans - What is the difference? 

The difference between a secured and unsecured loan is whether or not assets are provided as security interests to guarantee the loan.

Mar 28, 2023

AutomationCash Flow

Drawing a line in the sand for collections

It’s a clichéd phrase, this “Line in the Sand” stuff isn’t it? It says “Just stop, I’ve had enough”. Whether it’s an over excited puppy, an annoying colleague or even listening to your own internal critic, we all know there comes a time when we need to put a halt to things as they are.

Mar 27, 2023

accounts receivableCash Flow

Accounts receivable vs accounts payable – What's the difference?  

Do you remember that awkward conversation with your bookkeeper? Yeah, you know the one. They asked you about your accounts receivable and you confidently launched into a rundown of the business expenses you’d recorded for the past month

Mar 27, 2023

Credit ManagementFinance

Short-term loans for business - How to get approved 

When a business applies for funds from a bank, lender or credit union, it is applying for a business loan. Short term loans for business may be ‘secured’ (underwritten by collateral such as property) or unsecured, with interest varying accordingly.

Mar 27, 2023

Credit controlCredit Risk

Credit Control: what is it and why does it matter?

We’re betting you’ve heard the words credit control being bandied about, but if you’re not sure exactly what it means or why it’s crucial to your business success, read on.

Mar 27, 2023

Credit ManagementCredit rating

Reap the benefits of benchmarking

CreditorWatch, Australia's leading credit reporting bureau, has today launched a Portfolio Risk Benchmarking Report, providing Australian businesses with unprecedented access to credit risk benchmarking insights.

Mar 26, 2023

Credit ratingCredit Risk

Portfolio Risk Benchmarking Report FAQs

This report is a short-form risk driver analysis which provides a view of your customer base compared to the national average. It benchmarks lending or credit portfolios against comparable organisations.

Mar 24, 2023

ATOCreditorWatch

Have Confidence in Data Security with CreditorWatch

Data breach. Two words that send shivers down any company exec’s spine. Unfortunately, they’re increasingly common, the effects are widespread across a business’ operations and the financial impact can be massive. At CreditorWatch we’re acutely aware of the trust you place in us when you sign up to use our platform. We’re continually monitoring our information security management to ensure that our platform remains at the highest level of security.

Mar 24, 2023

accounts receivableCash Flow

Outsourced credit control services and benefits

Outsourcing across many roles and industries has become increasingly popular over recent years. And as the popularity of outsourcing has grown, so has the ease of finding and engaging outsourced support. Outsourced credit control services is among those that have grown in popularity.

Mar 21, 2023

accounts receivableCash Flow

Credit Controllers - What are they and what is their role?

Proper credit control is crucial for maintaining smooth and even cash flow within a business. But what is the definition of a credit controller? A credit controller manages credit that is extended to customers. Central to this role is the responsibility for collecting payment on all invoices issued and monitoring payments so that customers who do not pay on time can be followed-up and outstanding payments can be collected.

Mar 20, 2023

Credit ManagementCredit rating

Does Australia have credit scores?

Every Australian consumer has a credit file with the three main consumer reporting bureaus: Experian, illion and Equifax. CreditorWatch differs to these bureaus in that it is a specialist B2B credit reporting bureau and doesn’t collect data on consumers.

Mar 20, 2023

Credit ManagementCredit rating

Why is my credit score different between reporting bureaus?

The major credit reporting bureaus in Australia have different scales for their credit scores. Your credit score will differ depending on the entity providing the credit file, as each reporting bureau uses different metrics and different rating categories to inform the score.

Mar 16, 2023

Credit ratingCredit Risk

What credit score do you need for a business loan?

An Australian business’s ability to gain approval for a loan depends upon various factors, such as the individual criteria of the lender, and its assessment of the borrower’s credit risk.

Mar 09, 2023

CreditorWatch CollectDebt Collection

Cash is king: CreditorWatch launches fast and easy debt collection service

CreditorWatch today launched its automated debt collections solution, CreditorWatch Collect. The latest offering from the commercial credit reporting bureau gives businesses struggling to keep on top of cash flow access to a tool to transform their accounts receivables and collections processes.

Feb 28, 2023

CPMCredit Management

Credit portfolio management - what is it and how does it work? 

Credit Portfolio Management (CPM) involves the analysis of a business or lender’s credit portfolio to determine an effective balance of net risk and growth. The larger the diversity of borrowers and loan amounts, the more critical this process is.

Feb 27, 2023

Commercial propertyProcurement

Can a business buy a residential property in Australia?

A business’ revenue, or credit, can only be used to buy commercial real estate, which has the express purpose of being used for commercial ventures. In instances of a mixed-use block, a commercial loan product may be available to account for a percentage of the purchasing price.

Feb 21, 2023

BankruptcyCredit Management

Bankruptcy FAQs: Life after a bankruptcy discharge 

Bankruptcy has a sinister reputation. It carries the stigma of failure and a perception that someone is incapable of managing their personal finances. However, there is a light at the end of the tunnel for anyone going through bankruptcy.

Feb 20, 2023

BankruptcyCredit Risk

Bankruptcy search - what is it and how does it work?

When you file for personal bankruptcy the details are kept on the National Personal Insolvencies Index (NPII). This public register allows any interested party to search for bankruptcy filings in order to inform their decisions and actions.

Feb 15, 2023

accounts receivableCash Flow

4 Overdue invoice reminder email templates that really work

Strong cash flow is crucial for business success and longevity. But chasing outstanding invoices can prove difficult. Late payments are a real problem, particularly for small businesses. This is where a best practice overdue invoice reminders workflow comes into play.

Feb 06, 2023

Credit ManagementDebt Collection

What can debt collectors do if you don't pay? 

The actions debt collectors can take if you don’t pay a debt depends upon the severity of the debt, and the extent that the payment is delayed.

Feb 06, 2023

ATOCredit Management

What to do if you get an ATO Director Penalty Notice

As we emerge from the COVID-19 pandemic and the business landscape returns to normal, the ATO is again ramping up its enforcement of outstanding tax liabilities with more than 50,000 Director Penalty Notices (DPNs) issued last year on directors, which if not dealt within the strict timeframes specified, can lead to personal liability.

Feb 02, 2023

Business InsightsCreditorWatch

Business loans for bad credit - three ways to get approved in Australia

Whether you’re seeking a long-term business loan or a small loan to start a business, having a less-than-stellar company credit history can feel like a life sentence. However, there are options available to business owners that could be worth considering, to improve the likelihood of approval for a loan or line of credit and improve your business credit score.

Feb 02, 2023

accounts receivableAutomation

Boost your career with an automated collections process

Automating your accounts receivable is an easy, fast and cost-effective way to stand out from your peers and shift your career up a gear. While automation can be daunting, it’s a forward-thinking, digitisation project to lead.

Jan 19, 2023

accounts receivableAutomation

Why automated collections are better than spreadsheets

Almost 90% of CFOs say that a lack of automation is one of the main roadblocks to an efficient financial close process. Yet most businesses continue to rely on spreadsheets and only the most basic level of automation when it comes to their accounts receivable.

Jan 18, 2023

AML (Anti-Money Laundering)Due Diligence

What is KYC? Know Your Customer Verification Process Steps Explained 

Know Your Customer (KYC) due diligence means checking customer and partner business identification to protect against criminal activity. Within Australia, certain businesses are required to comply with KYC safeguards and reporting through Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) legislation, also referred to as the AML/CTF Act.

Jan 18, 2023

Cash FlowCredit Management

Cash control: How to improve your debtor management

Most businesses are not managing their debtors effectively and efficiently. Many don’t even realise it because they’re doing what they’ve always done.

Jan 13, 2023

Credit RiskRisk Management

Dealing with risky businesses

To be considered a high risk business, an entity will typically display a high risk of financial failure, reflected in its credit score, and/or operate in a high-risk industry.

Jan 12, 2023

Cyber-securityData

Identity theft: What is it and how can you avoid it? 

Identity theft is an ever-present threat within Australia and globally, as shown by the recent data hacks of large companies such as Optus and Medibank.

Jan 09, 2023

ACN (Australian Company Number)ASIC

How to reinstate a deregistered company

Once a company is deregistered within Australia, it ceases to exist as a legal entity and can no longer trade. Should you meet certain criteria, you may be able to reinstate the company – effectively restoring it to its form prior to deregistration.

Jan 03, 2023

Economics

What is a recession?

The term ‘recession’ has typically described two consecutive quarters of negative Gross Domestic Product (GDP) growth, although other metrics may be applied by economists. It is denotes a downturn in economic conditions and activity for a particular region or country.

Dec 27, 2022

AdministrationSmall Business

Creditors' voluntary liquidation: what is it and how does it work? 

If the shareholders of an insolvent company vote in favour of liquidation, or if creditors vote in favour of liquidation this is commonly referred to as creditors’ voluntary liquidation. It is the most common type of insolvent liquidation.

Dec 23, 2022

ASICSmall Business

How to wind up a solvent business in Australia

Closing a business can be as simple as voluntarily deregistering the company with ASIC. However, if this option is not available to you, you may need to wind up the business by making a declaration of solvency.

Dec 23, 2022

Credit ManagementCredit Risk

24/7 Monitoring and Alerts: FAQs

Consistently monitoring your customers for increasing credit risk and adverse events is critical to protecting the cash flow of your business.

Dec 23, 2022

Due DiligenceOnboarding

How good customer onboarding practices can transform a business

Gone are the days where businesses had to rely upon paper-based applications when assessing new clients that sometimes took weeks to complete. Things are now much quicker but in this challenging operating environment, performing proper due diligence prior to approval of credit applications is crucial.

Dec 19, 2022

Cash FlowDebt Collection

Avoid the late-payment drama and get paid faster

Month-end is often a much-maligned time. Chasing down unpaid invoices and late payments takes time, can be unpleasant and can lead to frustration for both you and your customer.

Dec 12, 2022

CreditorWatchData

DebtorLogic: frequently asked questions

Staying on top of the financial health of your client base is crucial to ensuring your business maintains a healthy cash flow.

Dec 08, 2022

Debt Collection

Reinvent the way you collect debt. A faster, simpler and cleaner experience

DebtorLogic is a debt collection strategy that helps you stay ahead of bad debt by revealing how your customers pay you in comparison to the rest of the market. It helps businesses to get paid faster and improves cash flow by taking a proactive approach to debtor management.

Dec 01, 2022

Credit ManagementCreditorWatch

How to improve your chances of collecting outstanding payments

The Australian economy is struggling with supply chain issues, rising interest rates and ongoing financial uncertainties. While growing debt could potentially cause the demise of your business, collecting outstanding payments is proving to be more difficult than expected.

Nov 30, 2022

Cash Flow

Securing your cash flow over Christmas and New Year

The silly season is upon us and chances are your calendar is already beginning to fill up with end of year catchups and Christmas parties. Then there are the many meetings to discuss projects that must be completed before we all head off for a bit of respite and sun.

Nov 28, 2022

ConstructionDebt Collection

Five tips to help construction businesses collect debt faster

It’s a tricky time to be operating in the construction industry. As seen with the recent collapses of multiple Australian construction companies, increased operating costs and a downturn in revenue can quickly result in defaults and insolvency. It sounds simple, and it’s not always easy, but the best way to safeguard your business from the myriad challenges confronting the industry is to ensure that cash flow is regular and protected. If you have the money to pay the bills, then you’re more likely to survive and thrive.

Nov 16, 2022

CreditorWatchPPSR and PPSA

PPSRLogic: Frequently Asked Questions

The Personal Property Securities Register (PPSR) is an online federal government notice board of security interests in personal property. The PPSR is a regulated database of official interests in specific property - including cars, goods, company assets, and other items. When specific types of loan, rental, hire-purchase or other agreements are signed, the property in question (referred to as ‘collateral’) underwrites it. Implemented in January 2012, the security interest register keeps an official log of which parties have a stake in which collateral.

Nov 14, 2022

Credit ManagementCredit Risk

Can I get a business loan with bad personal credit?

Your personal credit history can affect your business credit history, including your ability to gain access to credit products, such as a business loan or a business credit card. If you have a poor credit score, it can make it much more challenging to gain approval for credit products, as a lender may review both your personal credit history as well as your business credit history. However, having bad personal credit and poor credit history isn’t a life sentence and it can be possible to boost your chances of credit approval.

Nov 11, 2022

ATOCOVID-19

Q&A with Claire O'Neill, ATO Assistant Commissioner, Integrity

We sat down with Claire O’Neill, Assistant Commissioner, Integrity at the ATO to find out the options that businesses with outstanding tax debts have, and the steps that the tax office will take to work with businesses before taking extreme action such as publicly declaring tax debts.

Oct 26, 2022

Credit ManagementCredit Reports

What credit score do banks use in Australia?

When applying for credit within a bank, you can expect your credit file to get checked with their credit reporting bureau of choice.

Oct 24, 2022

BankruptcyCredit Reports

How long do credit inquiries stay on your credit report in Australia?

When you apply for any credit products, sign up to a utility provider, or consider working with a new business partner, it’s likely a credit enquiry will be performed on you or your business.

Oct 23, 2022

ASICCreditorWatch

How to close down a company by voluntary deregistration

For relevant officeholders enquiring how to close a company formally, the process is not as complicated as it may seem. In simplest terms: if your company has asset holdings totalling under $1000 and has not declared insolvency, you may be eligible to apply for voluntary deregistration.

Oct 23, 2022

Credit ManagementDebt Collection

High risk customers: what they are and how you can protect your business from them

As profit margins dwindle under rising inflation and operating costs, identifying your high risk customers is paramount. Trading with risky clients jeopardises cash flow, integrity, and exposure to litigation.

Oct 23, 2022

ApplyEasyAutomation

ApplyEasy: Frequently Asked Questions

When approving or rejecting customers for new lines of credit, it is recommended that you check them for creditworthiness and probability of default.

Oct 23, 2022

Financial Risk Assessment

How manufacturers can reduce risk with Financial Risk Assessments

Ensuring your manufacturing business is paid on time, and engaging with financially healthy customers and suppliers, is essential for the growth and security of your finances.

Oct 23, 2022

Credit Risk

Managing reputational and credit risk in the construction sector

Within the risk-laden world of construction, integrity and reputation are crucial for survival. Risks to cash flow from non-payment are high. Extending credit to late-paying clients may ultimately send both businesses down the insolvency path.

Oct 23, 2022

Payment Defaults

Why hospitality businesses must consider registering payment defaults

While many of the movement restrictions and space limitations have eased since COVID-19 first hit Australian shores, businesses in the hospitality sector are still experiencing the impacts of the pandemic.

Oct 23, 2022

Business InsightsMonitoring and Alerts

How automated Financial Alerts can reduce risk for hire and rental sector businesses

Enterprises within the hiring and rental business historically operate on a critical foundation of trust. Understandably so, as the value and volume of goods loaned are often significant.

Oct 23, 2022

CreditorWatch

KYC Crypto: What is KYC verification and why do cryptocurrency exchanges need it?

Know Your Customer (KYC) is a fundamental component of how financial sector companies prevent illicit criminal activities, and perform due diligence, for anti-money laundering (AML).

Oct 23, 2022

CreditorWatchPPSR and PPSA

Demystifying the PPSR: protecting yourself, protecting your business

The Personal Property Securities Register (PPSR) is the Australian Government’s online noticeboard of security interests in almost anything of value, except for land, buildings and fixtures. It’s important for businesses to know about the PPSR – but what kind of risk protection can it provide?

Oct 20, 2022

Business InsightsFinancial Risk Assessment

Five benefits of Financial Risk Assessments

CreditorWatch’s Financial Risk Assessments provide a comprehensive look into the financial viability of your trading partners, helping you make the right decisions to protect and grow your business.

Oct 18, 2022

Debt Collection

How real estate businesses can benefit from debt collection tools

The real estate industry relies upon the regularity and consistency of tenancy payments to drive revenue. Property Management often forms the cash flow base for boutique and franchise shop fronts alike, and any disruption can adversely affect the bottom line quickly.

Oct 14, 2022

AutomationDebt Collection

Making the debt collection process easier for wholesalers

The process of chasing up unpaid debts can feel like an intimidating task, particularly when you’re dealing with multiple products and transactions along an extensive supply chain. However, for businesses in the wholesale sector, it doesn't have to be.

Oct 12, 2022

Credit RiskDebtorLogic

Managing accounts receivable risk in the retail and wholesale sector with DebtorLogic

Overdue invoices can cause a serious headache for retail and wholesale businesses, especially considering the reliance on steady cash flow to buy more stock and supply your goods. Not only is the impact detrimental to your accounts receivable, but also the time spent chasing up late payments eats into operational hours.

Oct 11, 2022

Cash FlowDebt Collection

Making the debt collection process faster and easier

No matter what your business is manufacturing, the key to the process is cash flow. It’s the vital stream of revenue that allows you to buy your raw goods, pay for the utilities required to produce the product, and maintain the wages for staff. As soon as there is any disruption to cash flow, by virtue of slow creditors, it can spell trouble for your operation.

Oct 11, 2022

ConstructionCredit Management

Get more transparency in your data

Within the often murky world of construction, transparent data gives your team the inside track. Prospective trading partners in the sector have been known to sometimes take steps to obscure or obstruct the discovery of credit risk or instances of malpractice.

Oct 09, 2022

Credit ReportsRisk Management

Why you should be using CreditorWatch's additional searches

CreditorWatch is not just about credit reports and monitoring. We empower businesses with an extensive range of searches and reports to help them uncover exactly who they’re working with.

Oct 07, 2022

Financial Risk AssessmentProcurement

How financial risk assessments can help procurement teams

Procurement teams play a vital role that, in many ways, dictates the viability of the operation they represent. Large-scale Australian manufacturing businesses need to source the right goods, at the right price, from the most reputable suppliers in order to have any remote chance of long-term sustainability.

Oct 05, 2022

ConstructionDebt Collection

Improving collection rates in the construction sector

The construction sector within Australia is notoriously high-risk. Any exposure to the adverse payment behaviour, credit risk, or directorial malpractice of a trading partner can threaten the viability of your operation. Failing to implement an appropriate debtor management strategy, or using incorrect data, may result in default or insolvency implications for your business. It’s essential that all creditors be managed effectively, with collections prioritised, in order to safeguard your cash flow.

Oct 04, 2022

Credit RiskDebtorLogic

Ensuring fintech businesses that operate in open networks can mitigate risk

For fintech businesses, the use of open networks is one of the foremost advantages of the sector. It differentiates product offerings from competitors and allows market-leading technology to be leveraged. However, this same system exposes these businesses to a litany of risks in a sector that does not assume the same regulated transparency, compliance, or risk reduction policies that lenders or banks are subject to.

Oct 04, 2022

ConstructionCredit Risk

How construction companies can reduce bad debt

The construction industry is operating amidst an abundance of higher credit risk factors, including ongoing supply chain and materials delays, as well as higher costs for materials. When a construction business takes on a project in the current environment, it’s likely exposing itself to some degree of risk.

Sep 30, 2022

CreditorWatch CollectDebt Collection

How wholesalers can optimise debt collection

Following up on unpaid invoices and outstanding debts can be a frustrating and awkward process. Any unpaid credit to your business can have a devastating impact on your cash flow and your ability to turn over stock. Luckily, the credit collection process is not one you must go through alone.

Sep 28, 2022

Credit RiskPPSR and PPSA

PPSR registrations vs Retention of Title Clauses

Sometimes you think you’re protected, until all of a sudden you’re not. Contract clauses don’t always provide the bulletproof vest for your business that you might assume they do.

Sep 28, 2022

Credit ManagementCredit Risk

Why you should do a credit check on every company you work with

Company credit checks are an underutilised resource that can offer significant benefits to any business. Not only can performing a credit check on customers, suppliers or potential business partners protect you from credit risk and cash flow issues - you’ll be able to make more informed, data-driven decisions to facilitate business growth.

Sep 26, 2022

Credit RiskData

Using data to reduce business credit risk

One of the best tools at your disposal to reduce business credit risk is accurate, up-to-date data. Unfortunately, dirty data is a common problem that limits the ability of a company to take action to mitigate credit risk. Luckily, there are steps you can follow to be proactive about your data management and data hygiene.

Sep 26, 2022

Credit ManagementCredit Risk

How transport and logistics companies can manage credit risk

Within the unprecedented high-cost trading environment across multiple Australian industries, high volume Transport and Logistics companies are broadly exposed to credit risk. Ensuring the creditworthiness of suppliers and clients alike is crucial to securing the future of your cash flow and business.

Sep 26, 2022

Credit RiskOnboarding

How fintech companies can manage credit risk

At the apex of technology, research, and financial markets - fintech companies are breaking new ground and changing the ways that clients operate. The impacts of smart product offerings, leveraging the latest developments in science and engineering, have been enormous for both individual consumers, and partner businesses.

Sep 23, 2022

DataPortfolio Health Check

Improve data management with a Portfolio Health Check

Data is king in the world of contemporary business. Operators that are able to accurately collate and analyse data from trading partners, customers, and local areas can leverage that information to elevate performance.

Sep 23, 2022

Credit ReportsDebtorLogic

Difference between reactive and proactive debtor management

Getting on the front foot with your debtor management can mean the difference between healthy cash flow and potential insolvency. There are tools and insights available for proactive debtor management, which can alert you to the dangers of customers at risk of default ahead of time.

Sep 23, 2022

PPSR and PPSA

What the PPSR is and why you need to stay on top of registrations

As a hiring or rental business, the top priority (alongside regular revenue) needs to be the security, and retention of ownership, of any loaned or collateral assets. If your security stake in an asset is unproven, you may never either recover the good or be compensated for it, according to strict compliance guidelines.

Sep 20, 2022

ConstructionRisk Management

Tips for avoiding adverse cross directorships in the construction industry

The building and construction industry within Australia is notoriously high-risk. It is quick to be adversely affected by any downturn in the nature of trading conditions, including supply chain delays, steep price hikes on imported goods and raw materials, and rising domestic inflation.

Sep 20, 2022

Debt Collection

The power of CreditorWatch's debt collection tools

Bad debt can be fatal to a business. CreditorWatch helps you avoid this by taking a proactive approach to debtor management. Our interactive trade payment program, DebtorLogic, reveals your debtors’ payment trends, enabling you to identify risks and prioritise collections.

Sep 19, 2022

Credit ReportsMonitoring and Alerts

How to improve your business's financial health

Australian businesses currently in a very fragile state due to the shifting and changing nature of the economy. It is important to focus on the financial health of your business and the steps you can take to improve it.

Sep 16, 2022

Debt CollectionDebtorLogic

Protecting the health of your ledger in uncertain times

The current market is experiencing uncertainties that have left most businesses in a very different state to where they were pre-COVID. Many are unaware of new and emerging risks in their ledger.

Sep 16, 2022

ApplyEasyCredit Management

Wholesalers face risks from poor credit application procedures

In the current economy, there are uncertainties and risks around every corner when it comes to running a wholesale trade business.

Sep 07, 2022

Credit ManagementCredit Risk

Why perform a business credit check

Running a B2B business comes with its challenges and one of the biggest is maintaining cash flow. With one bad decision your company can go from booming to bust.

Sep 07, 2022

CreditorWatchInsolvency

How to manage the risk of business fraud

Any legitimate business should be keen to partner with those they can trust, who manage their capital responsibly, and who won’t be tied to any kind of illegal activities.

Sep 07, 2022

ApplyEasyCredit Management

How to avoid fraud in the financial sector

For as long as financial services have existed, unscrupulous entities have found ways to exploit their weak spots for personal gain. Fraud itself is nothing new, but there are concerns that those weak spots are now more plentiful and easy-to-find than ever before.

Sep 07, 2022

Credit ReportsCreditorWatch

How to use business credit reports to avoid supplier hoppers

As a creditor, you want to be sure that your debtors can repay their dues and that each customer is reliable with a trustworthy credit history. CreditorWatch is Australia’s leading credit check business. Our business credit reports help you identify risky customers, allowing you to proactively mitigate risks to protect your business.

Sep 05, 2022

PPSR and PPSA

How wholesalers can get the most out of PPSR

As a wholesaler, your investments and trading need to come with a high degree of financial safety and security. Any credit risk should be mitigated from the outset and a key tool for wholesalers is the Australian Government’s Personal Property Securities Register (PPSR).

Sep 05, 2022

ConstructionCredit Reports

Why do a construction business credit check?

As cracks begin to emerge in the Australian construction industry, various credit risk factors are posing a huge threat to its entire foundation.

Sep 05, 2022

ConstructionCreditorWatch

Combating fraud and phoenixing in the construction industry

Employing around 1.16 million people in 2021, the construction industry is significant to Australia’s economy. The industry's value sat at $202 billion in 2021 with $81.84 billion of that coming from the private sector.

Sep 05, 2022

Debt Collection

How your debt collection strategy affects your business

Debt collection is a process of empathy as much as it is strategy. Any company collecting debts from its customers must understand the position each party is in and make it as seamless a process as possible to ensure everyone can focus on running a strong business.

Sep 05, 2022

Credit Management

The importance of credit monitoring for wholesalers and retailers

It’s no secret that the cash flow stability of wholesale trade and retail businesses can change very quickly, especially given ongoing global supply chain delays.

Aug 31, 2022

Credit Risk

Credit risk management tips for hiring and rental businesses

Within the hiring and rental industry, the security of your assets can often mean the difference between profitability and bankruptcy.

Aug 31, 2022

PPSR and PPSA

PPSR: a critical tool for the hiring and rental industry

In Australia, the hiring and rental industry, by its nature, requires a higher degree of asset and cash flow security. On the provision side, this is due to revenue streams depending not only on transactional volume, but also the maintenance, care, payment for and return of the individual goods leased or loaned.

Aug 31, 2022

Credit ReportsDue Diligence

Essential steps when conducting director due diligence

In a time of increasing insolvencies and bankruptcies, and rising costs of doing business, an intimate knowledge of the directors of current or future potential trading partners can be of great value to your business.

Aug 31, 2022

CreditorWatchRisk Management

Managing fraud in the manufacturing industry

The manufacturing industry is one of the most vulnerable sectors when it comes to the risk of fraud and corruption. Horror stories involving inferior product quality, false warranty claims, and stock theft and misuse, among many other unfortunate scenarios, have caused significant fraud-based losses to many manufacturing companies and their livelihoods.

Aug 31, 2022

Credit ManagementCredit Reports

Why real estate businesses need to credit check their trading partners

Real estate industry performance is intrinsically linked to the trading conditions of the housing market. In times of boom, the sales volume for agents increases - driving a swell in available cash flow for all associated businesses.

Aug 30, 2022

InsolvencyPayment Defaults

Using data to predict business default and insolvency risk

It’s a tale as old as time for too many businesses within Australia. You engage with another company, everything runs smoothly for a few months, and then out of nowhere that company collapses – and you’re left struggling to reclaim debt.

Aug 29, 2022

Economic SnapshotPPSR and PPSA

Benefits of the PPSR for wholesalers

When managing large businesses and their valuable assets, your dealings need to include a high degree of credit risk management.

Aug 29, 2022

Credit RiskPPSR and PPSA

Managing ongoing business risk with the PPSR

The trading environment in Australia throughout 2022 has seen some unprecedented challenges. As rates of insolvency have risen across numerous industries, it is more important than ever to ensure appropriate risk mitigation strategies are in place to protect both your business and its assets.

Aug 29, 2022

Financial Risk AssessmentInsolvency

Using Financial Risk Assessments to protect your business from insolvency

When making purchases on behalf of your business, it is imperative that your suppliers and contractors are trustworthy, creditworthy and timely in the delivery of their products.

Aug 29, 2022

Credit ManagementCredit Risk

How hospitality businesses can strengthen credit risk management

The current trading environment for the food and beverage services sector is creating significant downward pressure on cash flow, while amplifying credit risk. This can be attributed to low consumer sentiment, higher inflation levels, supply chain issues, and multiple other factors.

Aug 29, 2022

Credit ReportsDebt Collection

Five reasons to register a payment default

A payment default is a black mark on a credit report, indicating an entity has not paid its debts. Payment defaults are unique to CreditorWatch, providing valuable insights into delinquent payment behaviour.

Aug 23, 2022

DataNews

Managing the problem of bad debt

Bad debt is an expense that a business incurs when a customer is unable to pay an amount owed for goods or services. Any amount lost, written off, or unable to be recovered is essentially considered bad debt.

Aug 22, 2022

Credit ManagementCreditorWatch

How to strengthen your customer onboarding procedures

When a business credit application is made, it’s important to dot every i and cross every t before committing to a partnership with the applicant. This should involve a process of thorough due diligence where you research a business’s credit report and make an informed decision around whether they present a risk to your cash flow.

Aug 22, 2022

PPSR and PPSA

Why conduct a PPSR search?

The Personal Property Securities Register (PPSR) is an official government register of interests in personal property. Operating as an online noticeboard, you can register with PPSR to show that you have rights over personal property which secure a debt or obligation that someone owes you.

Aug 18, 2022

Financial Risk AssessmentRisk Management

Going deeper: protecting your business with financial risk assessments

Within the current business trading environment in Australia, cash flow is king. To adequately protect the balance sheet of your business, it is essential that you determine the creditworthiness and payment tendencies of any partner business.

Aug 17, 2022

Business InsightsCredit Management

How arts and recreation businesses can protect their interests with company credit checks

Spanning a broad cross section of Australian businesses, from art galleries to theatres, gyms to sport and recreation clubs - the arts and recreation services industry is a fickle beast.

Aug 17, 2022

Credit ReportsMonitoring and Alerts

Why you need to be aware of cross-directorships

When you begin trading with a new business, the history of its directors may not be something that you immediately think of as being important. But extending credit to companies that have unscrupulous directors will not only putting your business at risk but can also potentially expose you to criminal activity.

Aug 17, 2022

ConstructionPayment Defaults

Lodging payment defaults: construction business' secret weapon from insolvency in a high-risk environment

It’s a challenging time for the construction industry, thanks to ongoing labour shortages, and supply chain issues, in tandem with rising inflation levels increasing local business expenses.

Aug 16, 2022

Credit ManagementPPSR and PPSA

What is the PPSR and who is it for?

Since 2020, businesses across all sectors and regions have taken a beating with trading conditions the most challenging they have been in years. With multiple impacts such as rising inflation and interest rates, labour shortages, supply chain disruptions and more, CreditorWatch’s Business Risk Index forecasts business insolvencies to continue rising over the coming months.

Aug 15, 2022

CreditorWatch

Keeping ahead of your competitors with monitoring and alerts

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.

Aug 11, 2022

BankruptcyLiquidation

What is the difference between liquidation, voluntary administration and bankruptcy?

The current business trading environment within Australia is facing unprecedented challenges, as seen with fluctuating revenues and higher inflation. With company insolvencies rising, it’s important to understand the difference between liquidation, voluntary administration and bankruptcy.

Aug 10, 2022

Credit ManagementCreditorWatch

How to avoid trade credit insurance claims

Trade credit insurance provides a business with cover in the event its customers become insolvent or cannot pay their debts.

Aug 03, 2022

Credit Risk

How wholesale businesses can manage credit risk

In the ups and downs of today’s global economy, wholesalers often bear the brunt of it all when it comes to another supply chain collapse. So, what can you do to make sure your wholesale business steers clear of toppling supply chains and keep your ledger strong?

Aug 03, 2022

Credit RiskDue Diligence

An overview of business credit risk indicators

When performing customer due diligence, what are the red flags to look out for? It is likely that five to 15 per cent of your ledger has adverse information you’re unaware about. To mitigate credit risk, it is important to be able to identify risk indicators which highlight entities in financial distress.

Aug 02, 2022

Credit ReportsCredit Risk

Cross directorships: What to look out for

When performing a business credit check, it is important to understand the concept of cross directorships. This is where some directors you work with may own or have previously owned multiple companies, and potentially increasing their credit risk.

Aug 01, 2022

Credit ManagementCredit Reports

Not all business credit checks are equal

News Hub Home News Podcasts Webinars Business Risk Index 9 mins read Group With a multitude of credit reporting bureaus in the market providing business credit checks, understanding that…

Aug 01, 2022

Credit ManagementCredit Reports

What is a business credit file?

The financial reputation of a business is one of the most fundamental indicators of its reliability to meet payment obligations, and this is showcased in a business credit file. Before you look to engage with a new customer, or a business partnership, it’s crucial that you do your due diligence and perform a credit check.

Aug 01, 2022

Credit RiskData

Reducing credit risk with data management

In a world where the trading environment is increasingly uncertain and information comes at us at an overwhelming rate, having accurate, reliable, and up-to-date business data can make all the difference in how well your business is protected.

Jul 29, 2022

ConstructionPayment Defaults

How construction businesses can avoid late payments

It’s been a volatile few years for the construction industry, with rising inflation, global supply chain disruptions, labour shortages and fixed price contracts putting increased pressure on clients and businesses alike. However, there are options available for companies to avoid late payments, and potentially get paid faster.

Jul 29, 2022

Credit Risk

Managing business credit risk in the financial services industry

As we have commenced Financial Year 2023, the rates of insolvency within the financial services industry have risen, illustrating the critical challenges these businesses continue to face. Managing credit risk is essential to maintain the flow of revenue from trusted trading partners, and avoid the prospect of default.

Jul 29, 2022

Business InsightsCredit Management

Why is a business credit history so important?

Looking at the past can help you determine trends of the future – but sometimes the past can come back to bite you. A company’s credit history can make or break its ability to secure credit and conduct business.

Jul 29, 2022

Credit Management

What is a good business credit score?

When you first start out, it can be a daunting task to try and pick out which customers have the best chance of working well with your business. Luckily, there’s a simple way to land your goal of building a base of reliable customers – check their credit scores!

Jul 29, 2022

CreditorWatchProcurement

Are these four procurement issues slowing down your business?

Keeping your procurement operations running smoothly is challenging, no matter what stage of business you are in. Both new and established businesses can face an uphill battle in balancing their spending whilst still delivering revenue and profit gains.

Jul 26, 2022

Credit ReportsCredit Risk

Top tips for manufacturers on managing credit risk

Tired of tricky customers and suppliers damaging the financial position of your manufacturing business? Follow these credit risk-reducing tips to stay one step ahead.

Jul 25, 2022

AutomationCash Flow

Why you should monitor your customers

The current economic climate is awash with change and uncertainty. These unstable trading conditions have highlighted the necessity for businesses, particularly small and medium enterprises (SMEs), to become more aware of who they are working with.

Jul 25, 2022

Credit Risk

How construction companies can mitigate credit risk

It takes a multitude of people to work end-to-end on a construction project. If you own or run a construction company of any kind, your employees or contractors need to be paid and you need to be paid by the client to pay these contractors.

Jul 25, 2022

Credit RiskCreditorWatch

How to mitigate credit risk

A little bit of risk is par for the course in the business world, but what happens when landing a new customer ends up costing more than you can gamble?

Jul 22, 2022

Credit ReportsCredit Risk

How manufacturers can use credit reports to avoid risk

Manufacturers are faced with challenges daily; from maximising automation to keeping on top of supply and demand. The need for an instant credit report has never been more critical for manufacturers.

Jul 22, 2022

Credit ManagementCredit Reports

Five reasons to check the business credit score of all your customers

The relationship we have with risk is a fascinating one; how we calculate it and how we respond to it when it presents itself can tell us a lot about our own psychology.

Jul 21, 2022

Credit ManagementCreditorWatch

How to check a business's credit score

Checking the credit of your customers and clients is a crucial part of running any business. Whether you're providing services, products, or financing, you need a way to ensure that you can trust your customers to make good on what they owe you.

Jul 21, 2022

Monitoring and Alerts

Why you should monitor your customers' payment behaviour

The current trading environment for Australian business is presenting unique and unforeseen challenges to both ownership and their management teams. In light of this, diligent credit assessment of customers is as necessary as ever before.

Jul 19, 2022

CreditorWatch

Managing uncertainty with 24/7 monitoring and real-time alerts

By neglecting customer due diligence, businesses are exposed to unnecessary risks, such as unpaid invoices and bad debt, which could have potentially disastrous consequences.

Jul 13, 2022

Credit ManagementCreditorWatch

Watch out for these 10 red flags of financial distress

When performing customer due diligence, what are the red flags to look out for? To mitigate credit risk, it is important to be able to identify risk indicators that highlight entities in financial distress.

Jul 12, 2022

Credit ManagementCredit Reports

Why wholesalers need to credit check their customers

Many large Australian retailers have been forced to shut their doors over the past two years. These devastating flow-on effects have been felt by all stakeholders in the supply chain. For wholesalers, who are often operating on narrowing margins to begin with, the volatility of the market since March 2020 has driven home the need to be aware of the credit history of each customer.

Jul 11, 2022

Credit RiskCreditorWatch

Credit risk challenges for fintechs

Fintech, short for ‘Financial Technology,’ was only added to the Merriam-Webster dictionary in 2018. In that short amount of time fintech has streamlined and simplified common financial processes, spreading to countless industries and all corners of the globe.

Jul 05, 2022

Credit ManagementCreditorWatch

Five Benefits of 24/7 Monitoring and Real-Time Alerts

In the current economy, filled with uncertainties, businesses are being forced to rapidly change and become more adaptable. And many are not able to manage the transition. CreditorWatch’s Business Risk Index data forecasts insolvencies to steadily rise across the remainder of 2022.

Jul 04, 2022

Credit ManagementCreditorWatch

How to protect your small business from fraud

The pandemic, alongside the rise in technology advancements, has forced SMEs to change the way they operate. This can be anything from altering their business models and plans to keeping up with ever-changing customer trends. The last thing an SME needs is added fraudulent behaviour from trading partners, customers and even employees.

Jun 27, 2022

Credit RiskCreditorWatch

How logistics companies can speed up debt collection

Extending credit always comes with risk. Nowhere is this truer than in the logistics industry, where the process is complicated due to the many moving parts and different stakeholders that make up a supply chain. You can't always avoid payment defaults, but with the right tools and strategies, you can minimise risk and speed up the debt collection process.

Jun 26, 2022

CreditorWatchDebt Collection

Debt collection challenges faced by the construction industry

Struggling to get paid as a construction worker? You’re not alone – thousands of people within the industry are experiencing the same thing.

Jun 19, 2022

CreditorWatchData

What Causes Bad Debt?

Bad debt happens when your customers are unable to reciprocate or repay an amount owed in the set amount of time. Any amount, or receivable, that is lost, written off and unable to be recovered is essentially bad debt.

Jun 15, 2022

BankruptcyCredit Management

Understanding Bankruptcy

Trading with a company that is bankrupt or has been involved in bankruptcy is risky business. Ensuring you have all the information possible to safeguard your own financial health is vital.

Jun 08, 2022

Business InsightsDebt Collection

Simplifying the Debt Collection Process

Running a business takes copious amounts of time and the last thing you want to be doing is chasing up debtors. Even with a proper credit check and credit score, debtors can sometimes slip through the cracks.

Jun 07, 2022

CreditorWatch

Director ID: Tips to help your director clients get their ID online

Australian Business Registry Services (ABRS) is providing the following guidance to agents and intermediaries to assist them in supporting their director clients to apply for their director identification number (director ID).

Jun 02, 2022

Credit ManagementCredit Reports

How is a credit score calculated?

Whether you’re the owner of a small, medium or large business, a credit score is a vital source of information to help avoid bad debt. A credit score helps lenders understand and assess the creditworthiness and credit risk of potential and existing debtors.

Jun 01, 2022

Credit RiskCreditorWatch

Using the Personal Property Securities Register (PPSR) to protect your small business

In Australia, small businesses account for almost 98 per cent of all businesses, contribute to 35 per cent of our GDP, and employ 44 per cent of our workforce. However, more than 60 per cent of small businesses fail within the first three years.

May 22, 2022

Credit ReportsCredit Risk

How to manage credit risk in the construction industry

Construction is Australia’s third largest industry, accounting for nine per cent of our total GDP. With $360 billion in revenue generated annually, investors rightly view building and construction as a source of highly lucrative opportunities.

May 19, 2022

Cash FlowCreditorWatch

How sole traders can use data to power their businesses

Sole traders make up more than 60 per cent of Australian businesses. It is the simplest and cheapest business structure, with low start-up costs, no registration or annual fees and fewer reporting requirements.

May 16, 2022

ConstructionCreditorWatch

A guide to using property and land title reports

In this uncertain trading environment, businesses looking to improve their due diligence and assess the creditworthiness of customers need to thoroughly investigate the assets owned by an individual or company. In this article, we explain the information that creditors can obtain from a land title search, property valuation report, common property, and national property ownership search.

May 12, 2022

AutomationCredit Management

How automation has enhanced credit risk management

To keep up with rapid innovation and emerging disruption, customers and investors alike are now expecting digitalisation of all key aspects of business operations. With increasing demand for analytical and technical capabilities, credit teams need to embrace digital transformation of credit decisioning to remain competitive, save time and money and improve accuracy.

May 11, 2022

Credit RiskExperts

The 3 Ps of preparation for small businesses: Part 3 – Protections

Our latest episode of Business Insights is the third in a three-part series on how SMEs can best prepare themselves for uncertainty using the 3 Ps of preparation: processes, policies and procedures, and protection.

May 04, 2022

Credit ReportsCreditorWatch

Understanding Business Credit Reports

If you’re a business owner who extends credit to other businesses, you probably know exactly what a business credit report is.

May 01, 2022

ATOCEO

CreditorWatch now collecting ATO tax debt default data

The ATO is Australia’s largest creditor responsible for the largest number of company windups in 2019. Historically, businesses would take on debtors with undisclosed tax debts and be caught off guard when the first mention on financial instability appearing when the ATO began wind up procedures.

Apr 20, 2022

ACN (Australian Company Number)COVID-19

The 3 Ps of preparation for small businesses: Part 1 - Processes

In this challenging economic climate, it is more crucial than ever that businesses are well prepared for whatever impacts come their way. Our latest episode of Business Insights is the first in a three-part series on how SMEs can best prepare themselves for uncertainty using the 3 Ps of preparation: processes, policies and procedures, and protection.

Apr 19, 2022

Credit ManagementCredit Reports

How lenders can enhance their credit decisioning with CreditorWatch data

As we emerge from the pandemic, many businesses are struggling with cash flow and seeking credit to get going again. Those who are unable to meet the strict lending criteria of major lenders such as banks are increasingly turning to second tier lenders.

Apr 18, 2022

Credit RiskDebt Collection

How to improve the quality of your ledger with DebtorLogic

In this episode of Business Insights, we take you through how to improve the strength of your ledger, with CreditorWatch’s Trade Consultant for DebtorLogic, Lucinda Judd. In these times of uncertainty for businesses, ensuring that your customers are reliable and able to pay on time is critically important for your cash flow.

Apr 06, 2022

CreditorWatchPPSR and PPSA

Why searching the PPSR is important for business

The Personal Property Securities Register (PPSR) is an official government register of interests in personal property (items such as motor vehicles, goods sold on credit terms and other financial property).

Mar 31, 2022

CreditorWatch

Everything you need to know about the new mandatory Director IDs

Director identification numbers (Director IDs) will be a mandatory requirement for new (first-time) directors from 5 April 2022. The Director IDs have been introduced to help prevent the creation of false Director identities and mitigate adverse cross directorships and illegal phoenixing activity.

Mar 27, 2022

Cash FlowCreditorWatch

How to protect your cash flow and get paid faster

You’ve done the work and you’ve sent the invoice. Now you wait. Every business owner knows the challenge of getting debtors to pay on time. But is there more you can do to get paid faster when businesses stall?

Mar 20, 2022

CreditorWatchTechnology

Going deep on customer due diligence with Infotrack searches

CreditorWatch’s integration with the award-winning InfoTrack search portal gives our customers access to several additional searches and services. InfoTrack is the leading legal tech innovator in Australia, offering more than 4,500 different products. Our seamless integration lets you quickly and easily access all of InfoTrack’s services and resources within your CreditorWatch account.

Mar 13, 2022

Case StudyConstruction

CASE STUDY: Probuild collapse - avoiding failures like this is possible

The Foreign Investment Review Board (FIRB) has been criticised in several quarters for helping to trigger last month’s collapse of Probuild through its refusal to approve a $300 million takeover of the company by state-owned China State Construction Engineering Corp on national security grounds.

Mar 09, 2022

CreditorWatchNews

What can subcontractors do if a builder enters voluntary administration?

Construction giant, Probuild, recently entered voluntary administration, leaving more than 750 jobs at risk and around 2,300 creditors chasing payment.

Mar 07, 2022

Credit ManagementCreditorWatch

An Introduction to Financial Risk Assessments

A Financial Risk Assessment provides a comprehensive look into the financial viability of your customers, suppliers and contractors.

Feb 23, 2022

CreditorWatchRisk Management

Seven reasons why small businesses should use accounting software

How is your business managing its finances? If you’re still using folders and spreadsheets, it’s time to revamp your approach.An accounting software package streamlines all your accounting processes, making it easier to stay on top of your finances.

Feb 15, 2022

Credit RiskCreditorWatch

How to take your credit checks to the next level

Signing any agreement before you have all the information is risky business. As a business owner, it’s in your interest to exercise due diligence to ensure you know who you’re getting into business with.

Feb 07, 2022

AutomationCredit Risk

How can you know which companies to do business with?

One of the biggest challenges for business owners is being able to tell which companies and providers you can reliably trade with, and which you should avoid. No vendor will tell you this on their own, and many will have reasons to indicate the opposite. So, what gives?

Jan 26, 2022

Business Risk IndexCreditorWatch

The master of predictive data models

For anyone working in financial services, more predictive algorithm credit-risk models mean more informed decision making and therefore fewer losses. So how can data specialists working in fintech enhance the predictability of their models? James O’Donnell, Managing Director of Open Analytics Hand creator of the CreditorWatch Business Risk Index, provides some insights.

Jan 23, 2022

ConstructionCOVID-19

Big machines, big challenges: wrangling the risks of the mining, agriculture, and construction industries

The pandemic and climate change have impacted us all in different ways with multiple flow-on effects. Some have endured far tougher times than others but one thing we all have in common is that we’ve had to quickly adapt to these unfolding global events.

Jan 09, 2022

CreditorWatchPortfolio Health Check

How to cleanse your data to reduce credit risk this holiday season

As Australia comes out of COVID pandemic and lockdown restrictions are reduced, uncertainty around trading activity remains. During the holiday period it is vital to stay on top of your customer data.

Dec 28, 2021

Business Risk IndexCreditorWatch

Talking Tech: How to build a Business Risk Index, Part 4

In this four-part series, CreditorWatch Software Architect Developer, Juanjo Lainez Reche, takes you through the decision-making and development of the Business Risk Index – one of the most complex and ambitious projects ever undertaken by the company.

Dec 22, 2021

ASICATO

What are zombie companies and how do you identify them?

The term ‘zombie company’ is used to refer to any business that is so debt laden that it is only able to pay the interest on its loans.

Dec 19, 2021

Business Risk IndexCreditorWatch

Talking Tech: How to build a Business Risk Index, Part 3

In this four-part series, CreditorWatch Software Architect Developer, Juanjo Lainez Reche, takes you through the development of the Business Risk Index – one of the most complex and ambitious projects ever undertaken by the company.

Dec 15, 2021

Credit ManagementCreditorWatch

How data can help you make better decisions and reduce credit risk

In the digital age, data has become a key driver of growth, with insights guiding businesses to success. The financial services sector is heavily reliant on data, with banks, insurance companies and any organisations who deal in risk seeking to bolster their modelling and reduce defaults.

Dec 02, 2021

CreditorWatchRisk Management

Tips and Tricks for streamlining the business credit application process

Credit applications are a critical part of onboarding new customers. Put simply, a credit application is an essential contract that allows you to do business with a new customer.

Nov 24, 2021

CreditorWatchGuest Contribution

What are personal guarantees and why are they important for your business?

A personal guarantee is a promise made by a guarantor that they will personally meet the obligations of another person or company if that person or company defaults to the creditor under the original, or primary, agreement.

Nov 21, 2021

CreditorWatchGuest Contribution

Start Your Business on the Right Foot: Good Credit Practices for New and Nano Businesses

If there was ever a time to start your own small or nano business, it’s now. Australian Bureau of Statistics’ figures show there has been a 3.8 per cent rise in the number of businesses formed in the year to 30 June 2021.

Nov 17, 2021

Business Risk IndexCreditorWatch

Talking Tech: How to build a Business Risk Index, Part 2

In this four-part series of articles, we take you through the development of the Business Risk Index – one of the most complex projects ever undertaken at CreditorWatch.In my first article I outlined how we built the master datasets and our online transaction processing platform (OLTP), which fuels our data analysis and most of the CreditorWatch’s website and platform.

Nov 15, 2021

Business Risk IndexData

How billions of datapoints became a Business Risk Index

Last week CreditorWatch launched a highly valuable, Australian-first economic indicator—the Business Risk Index. Each month the index reveals which regions in Australia are at the highest and lowest risk of insolvency in the future – critical information for businesses and government as we continue to navigate through the downturn from the coronavirus pandemic toward economic recovery.

Oct 17, 2021

Business Risk IndexCreditorWatch

CreditorWatch launches Australian-first Business Risk Index

The Business Risk Index (BRI) is a ground-breaking new economic indicator that provides unique insights into the health of Australian businesses by region. It draws on a wide range of data points to produce a dynamic measure of future insolvency risk for more than 300 regions across Australia.

Oct 12, 2021

Credit RiskCreditorWatch

Seven warning signs in a credit report you might not know about

CreditorWatch’s credit reports contain unique data and insights to help business of all sizes better manager their credit risk and credit score. To help you leverage all the information in our reports, here are seven warning signs you might not know about.

Sep 30, 2021

ManagePayment Defaults

Payment Defaults: The Provocative Tool That Works

Payment defaults not only help you get debtors to pay you faster, they warn you and other companies of slow-paying debtors.

Apr 14, 2020