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Credit Management

Easing the burden on small businesses

Most small and medium businesses throughout Australia often have limited credit management processes in place, relying on their debtors to settle their accounts on their own terms.

It is very easy for this process to quickly grow into an unmanageable mess or to increase the strain already felt by owner operator businesses who often manage their books outside of trading hours.

Credit management tools

Strict, reliable and effective credit management tools are the best way to wrangle your accounts and get them in order.

Easy, intuitive and up to date reporting tools can give you fast and accurate information about where your business currently stands and what sort of cash flow you should have if your debtors were paying on time.

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Do you have control of your business credit risk with a thorough credit management practice? With our accounts receivable system, you can access an online solution which effectively manages your customers and provides your business with ongoing credit monitoring of the debtors.

Effective credit management helps businesses of all sizes to stay on top of their debtors and manage their cash on hand more efficiently. When we talk about credit management, often it’s with regard to banks or large companies who have strict processes and large teams of credit professionals in place. They accurately evaluate the risk of extending credit to a business on the basis of a credit risk score they compile from the history of that business’ previous credit, current financial status and any time they have failed to settle their accounts.

This information is likely to be drawn from multiple sources in order to provide as detailed a portfolio as possible and will include information gathered from entities like the Australian Securities and Investments Commission (ASIC), the Australian Business Register (ABR), Australian Financial Security Authority (AFSA bankruptcy data), as well the Australian Courts and debt collection agencies. As a credit reporting agency, we utilise these same sources to gather information relating to a business credit profile as well as drawing on the extensive information we have gathered from our own databases. And we keep drawing on that information. We don’t just offer a once-off credit check on a debtor, we continue to check the credit of that debtor and notify you of any changes to that file which might affect ongoing trade.

While this data has traditionally been utilised by large organisations, CreditorWatch has developed a platform that is accessible for business of all sizes. CreditorWatch is a credit management agency which offers Australian businesses the tools and expertise they need to employ a complete solution to managing your debtors and getting your cash flow under tighter, more reliable control.

Stop chasing debtors which endless phone calls and stop extending credit to unreliable debtors who delay payment and affect you cash flow. Once you have started this kind of cycle it can be difficult to imagine a smoother and more effective alternative. But we’re here to help you do just that. Register for a free trial of our services and discover just how easy it really is to create a stronger and more effect credit management policy for your business. Click here to find out how to get started:

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