Get paid faster with CreditorWatch's real time credit reports and monitoring services

Condev Construction

Location: Queensland

Customer since: 2017

Company size: 100+ employees

About Condev Construction

Condev combine a strong company culture and exceptional skill base to build quality constructions in Queensland and northern New South Wales. Founded in 2002, the experienced team take on commercial, industrial and residential projects, including warehouses, townhouses, and educational and aged care facilities.

Condev is proud to be a sustainable construction business that strives for excellence in any project they undertake. Meet the Condev team and browse their impressive accolades on their website.

Their Problem

Condev work with subcontractors and other organisations regularly, all of which could pose a financial risk to the business without proper due diligence. The team struggled to find a reliable method to understand their customers’ and subcontractors’ financial viability.

Credit risk management processes are vital in the construction industry, as Glenn Cream, Condev's Director of Business, Systems and Compliance, knows all too well.

Glenn says:

"The biggest challenge with understanding a business' financial credibility is accessing critical information to help understand their capacity and history of paying others.

Before CreditorWatch, our process involved performing a reference check on subcontractors. This was very limiting as we were reliant on the information and details given to us by them - they are always going to contact people they prefer to receive credible and good references."

Our Solution

By using CreditorWatch, Glenn and this team rest easy knowing they can perform fast and easy accurate company credit checks on their customers and subcontractors. Due diligence needn't be a laborious task, and with CreditorWatch, Condev can stay ahead of risk before it impacts them.

Glenn says:

“CreditorWatch is a no brainer. We now have credible information on all our subcontractors at the press of a button, without relying on third party information from unknown and potentially unreliable sources.”

In particular, Condev is a frequent user and advocator of CreditorWatch's monitoring and alerts tool. These real-time alerts act as early warning signs when a customer or subcontractor incurs a payment default, stops paying another supplier or changes their company details.

"We regularly check in with our customers when an alert pops up, allowing us to be proactive with the way we work with those subcontractors. It helps mitigate risk to us as a business."


“I recommend CreditorWatch to any business that needs an easy way to understand a subcontractor's ability to perform and pay their creditors.” - Glenn, Operations Manager at Condev Construction


 

How well do you know your customers?

Trade with confidence and reduce credit risk by reviewing your customers and prospects today.