Construction
CreditorWatch

Lloyd Group

Before CreditorWatch, Lloyd Group wouldn’t know if a supplier was bankrupt for up to two months.
Lloyd group
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Victoria
Location
2018
Customer Since
100+
Company Size
About Lloyd Group

Lloyd GroupΒ is a household name in the commercial construction industry. The well-respected and award-winning business has been committed to providing personalised service for over 40 years.

With offices in Sydney, Melbourne and Brisbane, the experienced team take on projects across all major construction industry sectors including aged care, community infrastructure, childcare and education.

Their previous projects range from schools and medical clinics to sport pavilions and zoo exhibits.

Their Problem

As you would expect from one of Australia’s leading commercial construction companies, Lloyd Group juggles a large database of contacts and local trade suppliers.

If a customer or supplier became bankrupt, Lloyd Group wouldn’t know for up to two months.

This didn’t allow for enough time to react or to employ a replacement provider without delaying the project and impacting the pricing.

By using CreditorWatch, we have been able to free up a few days per month. We are able to save time and money as it prevents delays in project completion which has significant cashflow impacts on the business.

Our Solution

Lloyd Group turned to CreditorWatch’s credit risk management tools for a more proactive way to prevent these type of road bumps that threatened to derail entire projects.

β€œCreditorWatch helps us to be much more vigilant in what we need to consider before engaging with a new customer or supplier.”

Lloyd Group now checks a prospective customer’s credit history and ensure their suppliers are able to complete projects on time and pay according to terms.

CreditorWatch also monitors all of Lloyd Group’s customers 24/7 and sends real-time email alerts when there’s a change in their ledger, so the entire team is kept updated at once.

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