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Business Credit History

What is a business historical timeline?

A business historical timeline allows you to see the credit history of any Australian business. It will show positive and negative trends to assist your decision in taking on a new customer, or to review a current one.

Like an individual’s credit rating, a business credit score in Australia is established by its business credit history. When a business pays their bills on time and repays their loans within their agreed upon terms, they build a strong and reliable business credit history. If there is a history of bad debt, court notices, insolvency notices, defaults or similar adverse events, then their credit file is affected, reflecting what kind of behaviour your business is likely to encounter.

What information is included?

The business historical timeline will reveal previous:

  • Court Actions
  • Payment Defaults
  • Mercantile Enquiries
  • Insolvency Notices
  • Administrator or liquidator appointments
  • Winding up notifications
  • ASIC information

CreditorWatch is the Australian owned and operated credit reporting agency helping businesses access complete business credit history reports on potential or existing debtors. Our detailed and effective credit files give you all the information that you need to minimise the risk of bad debt.

Previously, businesses operating in Australia did not generally have access to affordable and detailed credit checks for their potential new debtors or even their existing ones that might have been raising red flags. CreditorWatch has helped to reshape how Australian businesses operate in this space by providing not only a detailed business credit history for any entities within Australia, but also by offering the ongoing monitoring of those entities with an affordable, intuitive and powerful accounts receivables management tool. With our credit management system, you can get information about your current debtors and are alerted as soon as their credit status changes.

We can offer you the use of our company logo to include on your invoices to ensure that your debtors settle their accounts quickly and hassle-free. We can also offer our advice regarding chasing bad debt, such as sending out official letters of demand and, should the situation call for it, further escalations like lodging a default against a business.

We will provide you with a full credit rating check which will include information gathered from the Australian Securities and Investments Commission (ASIC), the Australian Business Register (ABR), Australian Financial Security Authority (AFSA bankruptcy data), as well the Australian Courts, debt collection agencies and our own extensive databases, including payment defaults and receivables data. We’ll also include additional data points such as age of the business, the historical performance of that business, as well its directors. You can glean effective insights into any previous business failures by the existing directors to ensure that you take a more informed and proactive approach to engaging their business.

The more information that you have, the better equipped your business will be to reduce potential risk and engage confidently with your debtors.

To see how CreditorWatch can help you to effectively manage your list of debtors and introduce best accounts receivable practices for your business, register for a free trial of our services. We’ll show how easy and simple it is to integrate our system instantly. Click here to learn more: https://creditorwatch.com.au/how-it-works.

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