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Work Smarter with Credit Risk Technology

Reinvent your internal processes with credit risk technology

If 2020 taught us two things, it’s that ‘pivoting’ became the new planking, and technology is absolutely essential for dynamic workplaces. Lucky for our 50,000+ strong database, credit risk technology isn’t just a buzzword to us; it’s our bread and butter and one of the big attractions that drew me to the business three years ago. It makes the jobs of credit managers, accounts receivable teams and financial controllers more efficient, freeing up their time to spend on more complex projects.

Our brilliant development team grows in size and stature each year, and so do the innovative products they create. These are three of my personal favourites that help our customers make smarter automated credit risk decisions.

Automated business credit monitoring

Some business owners lament they don’t have the time for robust credit risk management processes, especially those that don’t have the support of a full team or wear many hats. Our credit monitoring tool is the perfect solution because it watches your riskiest customers 24/7 – so you don’t have to.

We’re the only commercial credit bureau to offer this technology. You can choose which customers to monitor, and if we detect any adverse behaviour, we’ll send you a daily alert direct to your email inbox. I personally recommend monitoring all of your customers, as well as suppliers and other associated businesses, not just those that you deem risky. You never know when things can change, so the entities you’re not keeping tabs on have the potential to catch you out.

RiskScore 

Our development team spent almost a year creating RiskScore, the most predictive credit score and rating in the market. RiskScore was released in late 2020 as a way for our customers to make more confident credit risk decisions. 

A diverse range of datasets makes RiskScore so valuable, including tradeline behavioural data, business demographic data and the usual credit risk drivers like payment defaults and court actions. Combined with machine learning and a sophisticated algorithm, RiskScore delivers this data to users via an easy-to-understand numerical score and alphabetical credit rating. 

I’ve worked in database management before and know the frustration of sifting through overwhelming data sets all too well. With RiskScore, the analysis is done for you, so all you need to concentrate on is how to set up a customer once you are comfortable with their creditworthiness.

DebtorLogic

DebtorLogic is another example of how CreditorWatch has automated a previously exhausting and error-riddled credit management process. DebtorLogic is a trade program that analyses your aged trial balance (ATB) each month, giving you visibility of the risk a customer presents to your business.

Find out which debtors to collect payment from first and compare your debtors across states and industries to identify the trends that will make your job easier. The tool makes it simple for credit managers to break down the data or create custom views with a few clicks of a button. Watch how it’s done in this webinar or contact me for a free demonstration.

CreditorWatch’s development team is always working on new products or improvements in the background. For example, we were one of the first bureaus to inform businesses of the new temporary restructuring relief notices that began at the start of the year.

If you are struggling with automating internal processes or need advice on what credit risk technology products to adopt, please get in touch via the details below. If I don’t have the answer, our development team will, and if it’s not a solution we currently offer, we’ll take it on board for our next strategy session.

Contact Grace


Grace Kulbe

Senior Business Development Manager

Grace is one of our Melbourne-based Senior Business Development Managers. In her role, Grace teams up with credit managers and finance professionals from a variety of businesses to help improve their credit risk processes.

Grace has a background in fintech, so she loves communicating the benefits of CreditorWatch’s market-leading technology to her clients and showing how it can make a positive impact to their business.

Outside of work, you’ll find Grace playing basketball, reading the latest fantasy fiction or enjoying a wine over dinner with friends. Connect with Grace on LinkedIn.

E: grace.kulbe@creditorwatch.com.au

M: 0437 087 664