What is a company credit report?
A company credit report is a profile of credit information that allows businesses to make accurate assessments of potential and current debtors and what kind or level of financial risk they pose.
Just like when an individual chooses to apply for credit and is evaluated on their personal credit rating, we can issue a company credit score based on the business credit history of any legal entity trading in Australia.
Staying ahead of your debtors will enable you to more accurately manage any financial risk they expose you to. You can amend or offer payment terms or contractual terms based on information you take from their company credit report.
You can take quick action on lapsed accounts and ensure that you minimise the effect their account has on the rest of your business.
Our credit management services
Not only do we offer a company credit report on any business in Australia, we also offer your business a suite of accounts receivable and credit management tools which include ongoing monitoring of your nominated customers business credit profiles.
Our credit enquiries are exhaustive and include information relating to external administration, court notices, registered credit defaults and any other ongoing credit issues which may influence your financial risk and decision making.
Our complete accounts receivable solution provides you with ongoing monitoring of debtors which appear on your ledger. You receive relevant and up to date notifications for credit information changes which keeps you one step ahead of your debtors and allows you to avoid bad debt.
As a commercial credit bureau, the company credit report we compile for you is based on information that we gather from business credit sources including from entities like the Australian Securities and Investments Commission (ASIC), the Australian Business Register (ABR), Australian Financial Security Authority (AFSA) which records bankruptcy data, as well the Australian Courts, debt collection agencies and from information we have gathered from on own extensive databases including the ability for our customers to register payment defaults against non-paying customers.
Traditionally, company credit management on this scale has only been available to large scale corporations, such as banks, who employ dedicated teams of skilled credit managers. Now, however, CreditorWatch have created an affordable solution that you can easily integrate into your business practice. You can also use our logo on your invoices to help encourage your debtors to pay on time and maintain healthy accounts with your business.
Cash flow is the lifeblood of any business, no matter how large or small, and ensuring that your business is alive and well depends on how well you stay on top of your debtors. Our solution is effective, affordable, intuitive and easy to use. We provide you with exhaustive company credit reports so you can make informed decisions about the financial risk your business is exposed to; we manage and maintain your debtor list with ongoing monitoring, building a more complete profile of your business credit risk; we offer easy to use reporting tools so you can access complete and accurate receivables data at a glance; and we provide you with debt collections tools that you may need to use against unreliable debtors such as letters of demand and the ability to register payment defaults.
To give you an idea of how informative an accurate credit report can be and how integral our services can be to your accounts management, click through to find out how it works: https://creditorwatch.com.au/how-it-works.