Stronger start to 2025 for Australian businesses but tariff uncertainty looms; Food and Beverage Services sector registers record high business failures

CreditorWatch, has released the January results for its Business Risk Index (BRI), revealing positive signs for Australian businesses at the end of 2024 and early 2025. However, the improvements are likely to be short lived, with the proposed tariff regime of the Trump administration expected to hinder growth, particularly for export-reliant sectors such as manufacturing and transport.

RBA cuts interest rates by 25bps to 4.1%:

Most economists expected the RBA Board to vote to reduce interest rates at the February Board Meeting. Markets were almost fully priced for the outcome.

Businesses report weaker business conditions in January

Extreme weakness in business conditions in mining drove this month’s slip in business conditions and looks to contain more noise than signal, though forward orders and profitability in mining have deteriorated so it’s not all noise.

Business confidence survey reveals a more positive 12-month outlook

The most interesting aspect of the NAB quarterly survey is the news that the number of firms reporting the availability of labour as a significant constraint remains a very high 34% and this has not changed over 2024. This is good news for job seekers and suggests the RBA does not have to engage in either a rapid or large series of interest rate reductions.

Flat retail sales flat in December give RBA something to think about

Important data points like today’s Retail Sales data will enter the RBA’s thoughts as it decides whether to cut Australian interest rates at the February Board meeting in two weeks’ time.

February 2025 Product Updates

News Hub Home News Podcasts Webinars Business Risk Index 244 mins read Group In our February 2025 release, we've focused on further automating your customer onboarding tasks and now,…

Unlocking business potential with Custom RiskScores

Managing risk and making informed credit decisions are critical for long-term business success. Custom RiskScores are a powerful tool for businesses to increase predictability, streamline processes, and boost productivity.

A third of private businesses with ATO debt default of $100k or more close in past year

CreditorWatch's latest data on Australian Tax Office (ATO) tax debt defaults has revealed thousands of Australian private businesses have collapsed over the past 12 months after failing to address significant tax debts with the ATO.

What is a Small Business Restructure (SBR)?

Small Business Restructuring (SBR) is a legal framework introduced in Australia in January 2021 as part of insolvency reforms aimed at supporting small businesses facing financial distress.

Eight ways to avoid the Christmas cash flow crunch

The festive season is generally a time for family, friends, and some much-needed rest. Unfortunately, many Australian business operators won’t be able to shut down and switch off this year.

Tough start to 2025 ahead for Australian businesses; sector outlook worst for hospitality

CreditorWatch, has released the November results for its Business Risk Index (BRI) with all key metrics pointing to an extremely challenging start to 2025 for Australian businesses, particularly small businesses.

RBA board gaining confidence that inflation is moving towards target

The board has gained some confidence in the recent forecasts that show inflation tracking back towards the 2-3% target.

Harnessing generative AI to enhance credit risk assessment

We’ve long been at the forefront of using AI to enhance credit risk assessment at CreditorWatch. Our machine learning (ML) models are the cornerstone of our credit scoring system, providing businesses with accurate and reliable risk assessments.

Business failures at highest rate since peak of pandemic; Soft household spending hitting hospitality hardest

CreditorWatch, has released the August results for its Business Risk Index (BRI) revealing that the rate of business failures is at its highest level since January 2021, when Australia was in the midst of the COVID-19 pandemic.

Business Confidence and Consumer Sentiment improve as inflation pulls back

Both business and consumer confidence shifted downwards over the month of August, with consumer confidence remaining deep in negative territory and business confidence falling back into negative territory.

Onboarding Solution Updates – November 2024

We’ve just introduced some exciting new features to our customer onboarding solution.

Interest rates on hold as RBA inflation concerns persist

The decision by the RBA to hold was favoured by economists and priced by the markets and likely reflected the at forecast 0.8% q/q trimmed mean outcome for Q3.

Inflation drops to 3.5 year low but slow progress on return to target

The 0.8% trimmed mean outcome probably does just enough to avoid a surprise rate rise next week, but shows only continuing very slow progress in returning inflation to target, especially with the possibility of some bias lower from the presence of the big electricity subsidies in the quarter.

CreditorWatch rates 16.2% of hospitality businesses as high risk or above; Forecast closure rate of 8.9% over next 12 months for the sector

CreditorWatch, has released its latest industry risk ratings, revealing businesses in the hospitality sector are currently exhibiting an extremely high level of risk compared to other sectors.

Overdue B2B payments at highest rate since March 2021; Construction and hospitality sectors top payment defaults

CreditorWatch, has released the September results for its Business Risk Index (BRI), revealing that late payments are at their highest rate since the end of JobKeeper in March 2021, as more businesses struggle to pay outstanding invoices.

Inflation falls to 2.7% - lowest rate in three years

As expected, the monthly CPI figure fell to 3.5 per cent over the year to July 2024, down from 3.8 per cent over the year to June. Trimmed mean and inflation excluding volatile items also slowed over the year to July, although all measures are still above the Reserve Bank of Australia’s upper target limit of 3.0 per cent.

RBA holds cash rate at 4.35%

Today’s decision by the Reserve Bank of Australia (RBA) board is unsurprising given the relatively steady nature of the most important data points that the bank is watching – those being inflation and labour force.

Business failures at highest rate since Jan 2021; B2B payment defaults hit record high 

CreditorWatch, has released the August results for its Business Risk Index (BRI) revealing that the rate of business failures is at its highest level since January 2021, when Australia was in the midst of the COVID-19 pandemic.

Larger businesses lead AI adoption, while digital transformation barriers hold others back

Larger businesses are driving the adoption of new technologies across Australia, with AI the primary technology industries are adopting to enhance competitiveness, according to newly released findings from CreditorWatch and its Business Sentiment Survey

Deteriorations in business confidence and consumer sentiment point to increased unemployment

Both business and consumer confidence shifted downwards over the month of August, with consumer confidence remaining deep in negative territory and business confidence falling back into negative territory.

Outer Melbourne tops list of riskiest areas in Victoria

Outer suburban areas of Melbourne top the list of current and forecast business failure rates for Victoria, according to CreditorWatch’s Business Risk Index (BRI) data for July 2024.

How AI reduces risk through proven and reliable credit scoring

CreditorWatch’s market leading combination of unique data, cutting-edge technology and deep industry expertise sets us apart. We have a team of Data Scientists who play a crucial role in training and refining our AI models.

June quarter GDP data shows economy growing at slowest pace since 1991 recession

Today’s June quarter GDP results will likely come as no surprise to Australian business owners, particularly those selling discretionary goods and services.

Thousands of businesses close after racking up massive tax debts

New data from CreditorWatch reveals that thousands of private Australian businesses have failed in the past six months after defaulting on massive tax debts.

Newsletter: Legal Pulse - September 2024

On a macro level, some of the challenges facing Australian businesses today are the cost-of-living, political unrest and increases to the amount of insolvencies. We’re seeing a record number of elections in Europe, together with uncertainty over the presidency in the USA.

Inflation drops to lowest rate since March

As expected, the monthly CPI figure fell to 3.5 per cent over the year to July 2024, down from 3.8 per cent over the year to June. Trimmed mean and inflation excluding volatile items also slowed over the year to July, although all measures are still above the Reserve Bank of Australia’s upper target limit of 3.0 per cent.

Business failures to increase in nine out of 10 Australian regions; Queensland to fare worst among the states 

CreditorWatch, has released the July results for its Business Risk Index (BRI) which show 87.2 per cent of regions around Australia will experience an increase in business failure rates over the next 12 months.

Consumer sentiment lifts as talk of rate rise evaporates

While consumer sentiment lifted slightly according to Westpac’s August survey, it is still in deeply negative territory. This survey is reflective of the extremely difficult trading conditions facing many retailers in the discretionary spend sector.

How does CreditorWatch’s RiskScore credit rating system work?

CreditorWatch’s RiskScore available on all its credit reports, indicates a business’ creditworthiness and predicts the likelihood of default in the next 12 months.

Credit applications and electronic signatures: Is it legal for my customer to sign electronically?

Four years after the pandemic, we are still coming to grips with how business and work has changed. In bygone days, a person would accept a transaction simply using their mark, seal or signature.

June quarter inflation prompts RBA to hold cash rate at 4.35%

The RBA today took the decision to leave the cash rate at 4.35 per cent, following last week’s reasonably positive June quarter CPI release. While the overall CPI figure increased by 3.8 per cent over the June quarter, up from 3.6 per cent over the March quarter, the trimmed mean measure of inflation, which removes volatile items, actually fell slightly between the March and June quarters.

Make trusts great again - how to avoid confusion when dealing with them

One question clients often ask us is, “What is my position when my customer is a trust”? Trusts can cause confusion and misunderstanding, often because they are less transparent than other business structures and the concepts can be hard to understand.

Are your personal guarantees worth the paper they’re written on?

A common feature of the onboarding process for many suppliers is a personal guarantee taken from an owner or director of the company customer. These personal guarantees can lie dormant for months and years on end until the customer can’t (or won’t) pay any longer.

June inflation and retail trade numbers will give the RBA pause for thought on interest rates

Today’s June quarter CPI number will be somewhat of a relief for the Reserve Bank of Australia (RBA) board, as the number came in at about what was expected. Trimmed mean inflation fell slightly, from 4.0 per cent in the March quarter to 3.9 per cent.

Small businesses struggling with financial confidence

Australian small businesses are much less confident about their financial health than larger businesses, according to CreditorWatch’s Business Sentiment Survey.

PPSA: Top 10 risk in your Terms & Conditions (and how to avoid them)

For suppliers of goods and equipment, the Personal Property Securities Act 2009 (Cth) (PPSA) is a fundamental requirement to protect you if your customer becomes insolvent. After all, the PPSA has been active since 2012 - well over a decade!

Jobs growth keeps up with population growth… for now

Today’s Labour Force data will likely be taken as generally benign by both markets and the RBA. Trend unemployment remained flat at 4.0 per cent for four straight months now, while the trend employment to population ratio has been relatively steady at around 64.1 per cent since mid 2022.

Business Risk Index, June results: Value of business orders at record low; 12-month forecast for hospitality failures rises to 9.1%

Credit reporting bureau, CreditorWatch, has released the June results for its Business Risk Index (BRI) which reveal a dramatic and concerning drop in the value of invoices held by Australian businesses as declining consumer demand forces cuts to inventory.

Managing risk: Is your AML/CTF compliance up to scratch?

In today’s interconnected financial system, businesses face an ever-evolving landscape of risks. Among these is an area little discussed in small business circles: money laundering and illicit financing.

Electronic signatures: Are they legally accepted in Australia? 

Electronic signatures are critical to doing business efficiently through online channels. Customers expect a convenient way to sign documents without having to print, sign and scan documents.

New ApplyEasy Features - July 2024

CreditorWatch has been providing Australian businesses with innovative credit management products and unique data insights since 2010, helping them confidently manage their commercial relationships, improve productivity and reduce exposure to financial risk and bad debt.

A better way to register on the PPSR - available now!

New Creditorwatch feature enables businesses to register their security interests on the PPSR via Customer Onboarding Solution, ApplyEasy.

Retail trade data reveals more pain for hospitality sector

While retail trade rose in seasonally adjusted terms, the underlying trend in trade remains flat. Australian consumers continue to feel financial pressures from high interest rates and sticky services inflation.

Bad debts at EOFY: Five reality checks from your lawyer (and what you can do about them)

We know that margins are currently slim. Consumers are tightening their belts in response to interest rate hikes and inflated prices on essential goods, including groceries and utilities. Businesses in industries across the board are also dealing with challenges such as price rises, increased labour costs and higher interest rates, which is elevating their levels of credit risk.

Nine out of 10 Brisbane areas to see failure rate increases

CreditorWatch’s Business Risk Index (BRI) data for May 2024 indicates that 88 per cent of regions in Greater Brisbane will record higher business failure rates over the next 12 months.

Inflation at highest level this year – stokes fear of August rate rise

The All Groups monthly CPI measure rose to 4.0 per cent over the year to May 2024, up from 3.6 per cent measured in April 2024. While ideally we would like to see this figure moving downwards, it is important to note that the monthly figure excluding volatile items and holiday travel actually fell to 4.0 per cent over the year May, from 4.1 per cent in April 2024.

Business insolvencies surge to record high - rate increases 38% on average across all industries

Credit reporting bureau, CreditorWatch, has released the May results for its Business Risk Index (BRI), revealing that insolvencies for Australian businesses are now at a record high as the impacts of stubbornly high inflation, interest rate increases and declining consumer demand squeeze margins.

Easing inflation prompts RBA to hold cash rate at 4.35%

The Reserve Bank of Australia (RBA) today announced its decision to leave the cash rate on hold at 4.35 per cent for the sixth straight meeting. Despite sticky services inflation, the RBA is, at this stage, still of the view that monetary policy is set at the right level to keep moving inflation down into the target band.

Healthy labour market will force RBA to hold fire on rate cut

The May 2024 unemployment data released today by the ABS offered few surprises, with trend unemployment rising slightly by 0.1 per cent, and seasonally adjusted unemployment falling by the same amount. There was some decrease in hours worked, however the ABS explained that this was broadly to do with illness keeping people home in greater numbers.

Business confidence back in negative territory as inflation stokes fears

Business confidence took a tumble in the NAB May 2024 conditions survey, to be -3 index points and back into negative territory. Business conditions also fell to be just below the long run average. Businesses surveyed reported falling trading and profitability conditions, but a slight rise in employment and labour, input and product pricing.

Tactics to propel your business through tough times

We know that margins are currently slim. Consumers are tightening their belts in response to interest rate hikes and inflated prices on essential goods, including groceries and utilities. Businesses in industries across the board are also dealing with challenges such as price rises, increased labour costs and higher interest rates, which is elevating their levels of credit risk.

Inflation stubbornly flat in April - not the news businesses were hoping for

A flat CPI (excluding volatile items) result is not the news Australian small businesses were hoping to hear today. The fight against inflation is still far from over, with the last stubborn categories - housing, fuel, electricity, health, education and financial and insurance services - proving difficult to get under pricing control.

Retail trade flat as consumers wait for tax cuts

Data released today by the ABS confirms that consumer spending in Australia is still very weak, with retail spending remaining flat since the start of 2024. Only ‘other retailing’ recorded any reasonable growth over April 2024, although this was impacted by the very early Easter and timing of school holidays over March and April.

The impact of late payments on cash flow and what to do about it

Late invoice payments are among the most challenging factors to manage when running a business. They create uneven cash flow, which can have a number of serious flow-on effects such as problems paying invoices and costs such as wages and utilities, difficulty planning for the future and, in extreme cases, can even force businesses to close down.

One in 13 hospitality businesses facing failure in 12 months; B2B payment defaults hit record high

Credit reporting bureau, CreditorWatch, has released the April results for its Business Risk Index, revealing that hospitality businesses (food and beverage services) are most vulnerable to current economic conditions by a significant margin over other industries, with a 7.45 per cent chance of failure over the next 12 months.

Labour market weakens further in April

Conditions in the labour market showed further signs of weakening in April, with seasonally adjusted unemployment rising from 3.9 per cent to 4.1 per cent. Trend unemployment remained at 4.0 per cent, with the steadiness in the trend unemployment rate indicating that job creation is broadly just keeping pace with population growth.

CreditorWatch's latest enhancements driving peak performance

CreditorWatch has been providing Australian businesses with innovative credit management products and unique data insights since 2010, helping them confidently manage their commercial relationships, improve productivity and reduce exposure to financial risk and bad debt.

Budget threads the needle between cost-of-living relief and managing inflation

For all the measures announced in Tuesday night’s Federal Budget, the average Australian is likely to focus on one – the $300 energy bill rebate for each household. In conjunction with a boost to Rent Assistance, these are the key pillars of the Government’s attempts to help with ‘cost of living’ pressures.

Why choose CreditorWatch’s APIs? 

Application Programming Interfaces - or APIs - are the cornerstone of seamless communication and collaboration between applications and software systems. APIs can empower businesses to adapt to changing market dynamics, improve operational agility, and provide enhanced customer services.

New CreditorWatch tool helps business get paid

CreditorWatch, a leading Australian commercial credit reporting bureau, today launches a new debt recovery tool, Debtor Management to help finance teams and small business owners (SBOs) and operators recover a larger proportion of overdue debt.

RBA holds cash rate at 4.35% for fifth straight meeting

The Reserve Bank of Australia (RBA) today announced its decision to leave the cash rate on hold at 4.35 per cent. Goods inflation continues to fall at a comfortable pace, and is now almost back into the target band, at 3.1 per cent.

Retail trade drops in March as consumers close wallets

Today’s retail trade figures underline just how cautious Australian consumers are being with their spending. Retail trade fell 0.4 per cent on a month-on-month basis and was only 0.8 per cent higher on a year-on-year measure.

The importance of an efficient debt collection process

Outstanding invoices and late-paying clients are frustrating for businesses of every size. In a challenging business environment, establishing an efficient debt collection process can mean the difference between growing your business and struggling to keep the lights on.

Inflation rise pushes out timing for rate cut

The Consumer Price Index (CPI) rose by 1.0 per cent over the three months to March 2024, which was higher than the December quarter increase of 0.6 per cent. In positive news, the annualised inflation rate continues to fall, and is down from 4.1 per cent in December 2023 to 3.6 per cent as at March 2024.

Labour market keeps pace with population growth

After a very strong employment growth figure in February, employment growth in March 2024 returned to more normal levels. In trend terms, the unemployment rate remained stable at 3.9 per cent for the fifth month in a row, while in seasonally adjusted terms, unemployment increased by 0.1 percentage point to 3.8 per cent, which is where the rate sat in October 2023.

External administrations surge to record high; construction sector dominates ATO tax debt defaults

The March 2024 CreditorWatch Business Risk Index (BRI) has revealed that external administrations are now at a record high as Australian businesses continue to battle cost pressures, skilled labour shortages and declining consumer demand.

Newsletter: Legal Pulse

Where do we start? The cost-of-living crisis, rising interest rates and an increase in collection activity by the ATO are just some of the challenges facing businesses in Australia today.

The tax man cometh - be warned

Let’s just take a moment to stop and smell the economy (after all, roses are yet to bloom). Inflation is still above the RBA’s goal, interest rates are still high (with a cut maybe by October/November 2024 if we are lucky), there are increasing rates of insolvencies, spending is down and the cost of living is up.

Dealing with an ATO Director Penalty Notice

It’s been widely reported that the ATO is increasing its debt collection activity after holding off taking action during the COVID pandemic. Companies running a business will incur certain tax debts that need to be reported and paid to the Australian Taxation Office (ATO), including PAYG withholding payments and superannuation guarantee payments on behalf of employees, as well as any GST payable by the company.

CreditorWatch April 2024 product updates

In our latest release, we've delivered a number of improvements across our range of credit risk management solutions.

Why valid PPS registrations are so important

A recent PPSA decision has highlighted the need for businesses to make sure they know their own entity details so that they are creating valid registrations. Check your own details, particularly if you are trading as a trust.

Keeping things private - a guide to privacy compliance

It’s weird isn’t it, how keeping personal information private requires transparency. Who knew? Here’s a fun fact: Privacy Awareness Week (“PAW”) will be held this year from Monday 6 May 2024 until Sunday 12 May 2024. “Is this important?” we hear you ask, and “Why should I care?”

FAQ: ATO tax debt disclosures

The ATO has been increasing its rate of public disclosure of outstanding tax debts from Australian businesses as it seeks to reduce the more than $34 billion owed to it by SMEs.

CreditorWatch awarded 5-Star Employers of Choice award

CreditorWatch is thrilled to announce that it has been honoured with the prestigious HRD 5-Star Employer of Choice award, celebrating its commitment to nurturing an exceptional workplace culture. At CreditorWatch, our people make the difference, and we prioritise their wellbeing and development above all else. From comprehensive benefits to meaningful learning and development programs, we ensure that every team member feels valued and supported.

Consumer confidence continues to slide as cost of living pressures bite

The Westpac-Melbourne Institute’s Consumer Sentiment survey revealed a fall in consumer confidence at the April survey of 2.4 per cent. Consumer confidence has now been near record lows for two years, representing one of the longest lengths of time of consumer despondency since the survey began.

Implementing best practice debtor management

For business owners, smooth and even cash flow is crucial for the growth and success of your operation. However, when faced with challenges like late payments on outstanding invoices, businesses may experience disruptions that ripple through operations, hindering growth opportunities and jeopardising their chances of success.

Inflation holds steady but rents and insurance still running hot

The monthly CPI growth figure has remained steady now for three months in a row, rising by 3.4 per cent. However, removing volatile items (fruit & vegetables, automotive fuel and holiday travel and accommodation) the monthly growth rate fell to 3.9 per cent, down from 4.1 per cent the month prior.

Unemployment unexpectedly drops to 3.7%

The seasonally adjusted unemployment rate dropped by 0.4 per cent to 3.7 per cent, as many workers who were jobless in January but had employment to move in to have taken up those jobs. There was a very large increase - 116,500 people employed over February in seasonally adjusted terms.

RBA Holds Steady: Cash Rate Remains at 4.35%

Today’s decision by the RBA to leave the cash rate on hold comes as no surprise, given the lack of any meaningful data pointing to the economy continuing to overheat and further threaten inflation rises.

Invoice defaults at record highs as cost pressures squeeze businesses

The February 2024 CreditorWatch Business Risk Index (BRI) has revealed that payment defaults from business-to-business transactions are at record highs.

Dip in business confidence in February, led by retail

The latest NAB business confidence survey reported a slight increase in conditions, and a fall in confidence. Mirroring CreditorWatch’s Business Risk Index data, confidence was lowest in the retail, construction, mining and food and beverage sectors.

How creditworthy is my business? 

When it comes time to access credit or engage with new suppliers and trading partners, your company credit history can be as important as your reputation in the industry. If you’re unaware of your business’s creditworthiness, you may struggle to gain favourable financing terms or establish a foundation of trust with stakeholders.

Monthly Economic Update: Businesses preparing for tougher conditions as consumers tighten belts

The Reserve Bank of Australia chose to keep the cash rate on hold at its February meeting, which came as a huge relief to both household and business borrowers.

Retail trade up in January but yet to display a positive trend

Retail trade increased in seasonally adjusted terms by 1.1 per cent in January, but was flat in trend terms. Given that retail trade jumps around quite dramatically between November, December and January, the trend data is important to consider and, as the ABS suggests, indicates there is no underlying growth in retail trade by Australian consumers.

Inflation still too high for RBA to consider rate cuts

The monthly CPI remained steady in January at 3.4 per cent, although it showed a moderate decline when removing volatile items and travel.

Keeping a lid on rising costs

With small businesses facing rising costs, greater focus is needed on keeping control of business finances and ensuring the business continues to be profitable.

Labour Force numbers point to continued slow down for economy

Today’s labour force data points to a continued slow down in the economy, with the unemployment rate rising by 0.1 per cent to 4.1 per cent, seasonally adjusted.

Business order values at record low as Christmas trading boost fails to arrive

The January 2024 CreditorWatch Business Risk Index (BRI) has revealed the average value of B2B invoices is now at a record low, reflecting the continuing contraction of business activity.

Unexpected increase in Consumer Confidence

Consumer confidence survey data released by Westpac today showed an unexpected increase in confidence among consumers in February. While sentiment is still in deeply pessimistic territory, this month’s survey recorded the biggest lift in sentiment since April 2023.

RBA leaves cash rate at 4.35%

In response to a wealth of data pointing to both slowing inflation and a slowing economy, the Reserve Bank board took the decision today to leave the cash rate on hold at 4.35 per cent.

How to check a business credit score

One of the easiest and most effective ways to engage with any new customers or suppliers, is to check a business’s credit score as this is the benchmark for its financial health.

Inflation falls sharply from 5.4% to 4.1%

Today’s release of the December quarter CPI figures will provide great relief to both home and business borrowers, as it all but assures them that the Reserve Bank of Australia (RBA) will keep rates on hold at next Tuesday’s Board meeting.

Black Friday boost fizzles out, with overall retail sales down 2.7% in December

Today’s retail trade figures confirm that Australian consumers pulled forward much of their Christmas spending to November’s Black Friday sales.

11 signs of financial distress in a business 

Businesses in Australia are currently experiencing challenging economic conditions. When performing customer due diligence, it’s important to note that there are always tell-tale signs that companies display when in financial distress.

Business conditions ease further, maintaining a slow downward trend

Business Conditions over December 2023 eased further, maintaining the slow downward trend that occurred over 2023. Business conditions are now at around their long run average.

How to create a best practice credit policy 

If you’re looking to safeguard the financial health of a business and improve customer relationships, establishing well-defined credit procedures and credit policy is crucial. A credit policy acts as a blueprint for how your business extends credit to customers.

How to spark creativity for business growth

If business growth has plateaued, and your business feels like it is just going through the motions, it might be time to give it a new lease on life. For many small businesses, there comes a point in the business life cycle where they feel like progress has stopped.

Five best Australian business podcasts to check out over the holidays 

With the holiday season in full swing, there's no better time to reset and get reinvigorated with the best insightful and informative business podcasts to provide you with fresh ideas for the year ahead.

What is an adverse cross directorship? 

A ‘cross directorship’ refers to when an individual is the director of more than one company. While this is not always a red flag for financial risk, it can become one if that director has a history of poor payment behaviour, fraud or misconduct within that other business and you’re unaware of these transgressions.  

Four Fintech trends to watch in 2024 

As the curtains draw on 2023, Australian Fintech companies look to the future to see which opportunities and innovations will emerge to transform the finance sector.

Meet Samer Sadek – Your Principal Solutions Architect

Meet Samer Sadek, your Principal Solutions Architect

Reducing risk to start 2024 off on the right foot 

Times have been tough for Australian retailers as cost-of-living pressures force consumers to tighten their belts. In this article, we look at how retailers can set themselves up to start 2024 in the strongest possible condition.

CreditorWatch Best and Worst Report 2023

CreditorWatch’s Chief Economist, Anneke Thompson, takes you through the best and worst economic events and impacts for Australian businesses in 2023.

Slight lift in unemployment as labour market softens

In a trend that continues on from October labour force data, the unemployment rate rose by 0.1 per cent to 3.9 per cent on a seasonally adjusted basis, despite a good increase in the overall number of employed people by 61,500.

External administrations surging across most sectors as business activity slides

The November 2023 CreditorWatch Business Risk Index (BRI) has revealed the industries with the biggest increases in external administration rates over the past 12 months with some surprising results.

Slow Christmas ahead for Santa as consumer sentiment still near record lows

Consumer sentiment lifted slightly following Westpac’s November survey, however it still hovers around record low levels. Business confidence is now turning decidedly sluggish, and not surprisingly the retail sector recorded the biggest fall.

Meet Shriya Gosain – Your Collection Solutions Specialist 

Meet Shriya Gosain, your Collection Solutions Specialist

Late Payments Survey Results: How Australian businesses are faring

Late payments can be crippling businesses, particularly those operating on tight margins, such as SMEs. This pressure intensifies during the summer holiday season, a period that traditionally sees an increase in late payments and payment defaults as many businesses shut down for the period with unpaid invoices.

10 ways to keep cash coming in over the holiday period

The holiday season can be a double-edged sword for SMEs: you need to take time to celebrate the year that was, while having to juggle unpaid invoices and stagnating cash flow.

Borrowers breath a sigh of relief, as the RBA holds cash rate at 4.35%

Borrowers today breathed a sigh of relief as the Reserve Bank of Australia (RBA) today chose to keep the cash rate steady at 4.35 per cent in its final meeting until February. Stagnating retail sales, slowing inflation and a rising number of unemployed job hunters all combined to convince the RBA that current monetary policy settings are sufficient to slow the economy.

Monthly Economic Update: Consumers keep wallets closed but RBA making inroads on inflation

Consumer confidence plummeted again in October, following the announcement of a further increase to the cash rate following the Melbourne Cup Reserve Bank board meeting. Just two months ago, consumers, and most economists were reasonably confident we’d reached the end of the monetary policy tightening cycle.

Dip in inflation points to rate hold in December

Today’s monthly CPI data showed positive signs that monetary policy is taming the inflation beast. Excluding volatile items (fruit and vegetables and fuel), monthly CPI reduced to 5.1 per cent, down from 5.5 per cent the previous two months.

Retail sales down in October as consumers wait for Back Friday

Retail sales fell an overall 0.2 per cent over the month of October, after recording rises in spending in both preceding months. For discretionary goods categories, this is to be expected, as many consumers will have chosen to hold off on spending for Black Friday sales, which are currently in progress.

Improving your chances of securing business credit

A strong credit profile is one of the cornerstones of a successful business. As with an individual credit score, having an excellent business credit profile will mean the business is more likely to gain approval for financing, such as a line of credit or business loan, or more favourable terms with suppliers.

Meet Jason Sutherlin – Your PPSR Solutions Specialist

Meet Jason Sutherlin, your PPSR Solutions Specialist.

Managing a Strike Off Action in Progress: What to do next

A successful strike-off action indicates that the Australian Securities and Investments Commission (ASIC) has taken the necessary steps to deregister a company formally. This implies that the business name has been struck from the Australian Business Registry (ABR) and all associated parties, be they employees or creditors, have been notified of the winding up of the company.

Uptick in unemployment gives RBA cause for December rate hold

Despite a solid increase in the number of employed people over October, the unemployment rate still ticked up from 3.6 per cent to 3.7 per cent given the increase in unemployed people.

Business activity dries up – invoice values at record lows; But Melbourne the most improved capital city

The October 2023 CreditorWatch Business Risk Index (BRI) has revealed that Australian business activity is now at disturbingly low levels with the average value of invoices at their lowest point since CreditorWatch began recording this metric in January 2015.

Consumers and businesses restrain spending after further rate rise

Both Business Sentiment and Consumer Confidence measures taken by NAB and Westpac respectively showed increasing pessimism among both groups. Business confidence declined, while conditions improved slightly, which suggests that even though businesses might be doing okay for now, there is an expectation that these reasonable conditions won’t last.

Major update to unfair contracts laws: A fair go all round

Significant changes to the unfair contracts regime come into law today, with new multi-million penalties for companies and individuals forcing trading partners to sign contracts that are deemed unfair. Are your contracts fair and equitable?

RBA wrestles inflation with another rate rise, but is it enough?

The Reserve Bank of Australia has taken the controversial step of raising interest rates once again, but some pockets of the economy are still seeing rampant price rises.

Meet Annette Gilbert – Your Onboarding Solutions Specialist

Meet Annette Gilbert – Your Onboarding Solution Specialist

CreditorWatch ApplyEasy November 2023 product updates

Our latest round of product updates focus on ApplyEasy to continue helping you deliver a great customer onboarding experience, whilst minimising upfront risk.

Automated accounts receivable: Why accounting software alone doesn’t offer best practice

Off-the-shelf accounting software has revolutionised the ease with which small businesses can manage their finances. From tracking your finances and making reconciliation smoother to accounts payable and staff payroll, ERPs (enterprise resource planning) and accounting software like Xero, MYOB and QuickBooks makes doing business easier than before.

Bump in retail spending could prompt rate rise

Today’s retail trade data revealed a slight increase in the rate of spending in September 2023, partly driven by the release of the new iPhone and a warm start to spring, which boosted spending on hardware, gardening supplies and clothing.

Main driver of inflation finally comes off the boil

In good news for the economy, September quarter inflation data released today by the ABS shows that services inflation has moderated since June 2023. While still high, at 5.8%, it is down from the June 2023 peak of 6.3% and is also the first decrease in the rate of services inflation since December 2021.

The benefits of digital onboarding for business 

Sales have done their part. The customer is hooked, they’ve reeled them in and now it’s over to you, accounts, to double check their credentials and, if they are a desirable customer, get them set up ASAP.

Unemployment rate down but not enough for rate rise

The Australian labour force remains relatively resilient, with an additional 6,700 people gaining employment over the month of September.

Why getting all the right info in an application form is super important

Of course it’s important to gather the right information when onboarding a new customer. Without it, you might not be able to set them up properly in your customer relationship management (CRM) system.

Business activity picks up, but invoice values below pre-COVID levels; Western Sydney dominates list of high-risk regions

The September 2023 CreditorWatch Business Risk Index (BRI) has revealed that the contraction of Australian business activity may have eased but it remains at a low ebb, with the average value of B2B invoices down 42% year-on-year and well below pre-COVID levels.

Navigating tax debt: A comprehensive insight into the Australian Taxation Office's approach

In the complex landscape of tax obligations, the Australian Taxation Office (ATO) aims to employ a strategic approach to debt management, carefully crafted to cater to the diverse needs of businesses while maintaining fairness and equity.

What to do when customers won’t pay 

If you've ever encountered non-paying customers, you're not alone. It's an unfortunate reality of dealing with clients on credit terms – some of them, when the work is done or the product is delivered, refuse to pay.

RBA holds cash rate at 4.10% for the fourth-straight month

The RBA has maintained the cash rate at 4.10% at the October 2023 meeting. Continuing weak retail trade and consumer confidence data is giving the board the clear sign that their efforts to reduce demand in the economy have worked very well.

RBA’s monetary policy efforts bearing fruit

September saw the continuance of fuel inflation, with petrol and diesel prices rising substantially due to reduced production by key oil states like Saudi Arabia. The increase in fuel prices, alongside continued price gains in insurance and residential rents, resulted in a small increase in monthly inflation.

Retail trade still soft but gets a kick from the women’s World Cup

Retail Trade continues to grow very modestly, with a 0.2% seasonally adjusted monthly increase recorded over August. This equates to an increase in spending of 1.5% over the year, and is well below inflation rates.

Deep due diligence for savvy businesses

What you see on the surface is not always what you get, especially when it comes to other businesses. Here's why the due diligence process is an important step in a business relationship.

Fuel prices drive up inflation in August

All groups monthly CPI rose 5.2% over the year to August, up from 4.9% the month prior. While a higher figure is not welcome news for borrowers, the figure is heavily impacted by the higher cost of fuel this month.

PPSR: Protecting your interests during customer onboarding  

The PPSR, the government Personal Properties Securities Register, is akin to home and contents insurance. It should be quick to set up and, once done, will protect you in case of an adverse event (for example insolvency).

Meet Kaitlyn Knight – Your Onboarding Solutions Specialist

Meet Kaitlyn Knight – Your Onboarding Solutions Specialist

Stable unemployment rate means rate rise in October unlikely

While the August 2023 unemployment rate remained steady at 3.7% on a seasonally adjusted basis, there was a strong gain in employed people overall, at 64,900, or a 0.5 percentage point increase. The very minor increase in the participation rate from 66.9% to 67.0% was the reason this jobs growth wasn’t enough to lower the unemployment rate again.

Business activity sinks: value of invoices at 7-year low as external administrations and payment defaults surge

The August 2023 CreditorWatch Business Risk Index (BRI) has revealed Australian businesses activity is at near-record lows with the average value of B2B invoices now down 36% year-on-year - its lowest point since January 2017.

New customer application forms: The importance of the right information  

Capturing relevant information when completing customer onboarding smooths the experience across four key areas of the onboarding stage; compliance or due diligence, credit risk, employee experience and customer satisfaction.

The role of due diligence in combating illegal phoenixing activity

It's an occurrence seen all too frequently within wholesale trade and retail in Australia. A trading partner with high levels of outstanding debt goes insolvent, only then to re-emerge under a new name with the slate somehow miraculously wiped clean.

Trade payments data: Why is it so important?

Imagine if you could look into a crystal ball, see into the future and know whether your trading partners were going to pay you on time. While it can’t 100% guarantee outcomes, trade payments data is as close to a crystal ball as you can get when it comes to credit control and looking into the health of a business’s bank account.

RBA holds cash rate at 4.10% for the third-straight month

Today’s June quarter inflation rate came in at below market expectations at 6%, with particular progress made in the slowing rate of goods inflation, which dropped from 7.6% over the year to March 2023 to 5.8% over the year to June. Goods inflation is far more responsive to monetary policy changes than services inflation, and this shows that consumers have well and truly responded to the RBA’s tightening measures.

Why businesses should implement an end-to-end credit management solution

For businesses that trades credit with customers, staying ahead requires more than just ambition – it requires smart decision-making, streamlined processes, and a keen awareness of risk.

Australian economy battered and bruised but surviving

The Australian economy ticked along steadily over the course of August. Retail trade increased very slightly, although on an inflation adjusted basis, spending continues to fall.

Inflation comes off the boil in most categories; Dwelling approvals at 10-year low

The monthly CPI data continues to show an easing of price rises in most categories in the CPI basket. The exceptions, however, are rents, which rose by 7.6% over the year to July, up from 7.3% in June.

Meet Bethany Brown – Your Collection Solutions Specialist

Meet Bethany Brown, your Collection Solutions Specialist.

Does a business loan affect personal credit?

The line between personal and business matters often becomes unclear, leading entrepreneurs and business owners to question the potential impact of a business loan on their personal credit score.

Average value of invoices down 28% YoY as demand and cost pressures squeeze businesses

The July 2023 CreditorWatch Business Risk Index (BRI) has revealed the average value of business invoices has fallen by almost a third over the past 12 months, with a drop of 28% year-on-year.

ABS Labour Force, July 2023: Unemployment jumps in QLD

On a seasonally adjusted basis, the unemployment rate in Australia climbed by 0.2 percentage points in July, to a still very low 3.7%. The number of unemployed people in Australia climbed by almost 36,000, with almost all of this increase being felt in two states, Queensland and NSW.

Why you need to manage credit risk throughout the customer lifecycle 

A lot can change across a customer’s lifecycle, whether that’s over a few months or 10 years. Just because a customer was in a strong financial position when you completed due diligence and ran their business credit check, doesn’t mean they’ll be as financially strong five years down the track.

Westpac Consumer Sentiment and NAB Business Confidence

Consumer confidence continues to bump along at near record low levels, falling by 0.4% in July 2023. Consumers are unlikely to report any improvement in confidence until inflation looks to be firmly in the rearview mirror.

What’s an ideal credit risk management process? 

Whether you’re a long-time credit controller, a new business owner or a seasoned finance manager, a clear, consistent credit risk management process is key to doing more business, with the right customers, and getting paid faster.

Fraud in Australia - Everything you need to know 

Fraud has become an increasing concern for Australian businesses as criminals incorporate more sophisticated techniques into their scams.

Inflation comes off the boil and retail trade dips as rates bite

In some positive news this month, June 2023 CPI data showed that inflation in Australia is on a steady downward trajectory, mirroring what is happening in most major economies around the world.

Retail trade falls as consumers spend less at mid-year sales

Retail trade fell 0.8% in June 2023, as consumers showed far less willingness to spend in the mid-year sales compared to previous years. In a sign of just how much pressure consumers are under, retail spending fell in every category except food retailing, which only increased by 0.1 per cent in dollar terms.

Inflation drops to 6%; increases chances of rate pause next week

Today’s June quarter inflation rate came in at below market expectations at 6%, with particular progress made in the slowing rate of goods inflation, which dropped from 7.6% over the year to March 2023 to 5.8% over the year to June. Goods inflation is far more responsive to monetary policy changes than services inflation, and this shows that consumers have well and truly responded to the RBA’s tightening measures.

Guide: Safeguarding your business from insolvency

To empower business owners and credit professionals in navigating insolvent trading partners, we've compiled a comprehensive and data-driven report: 'Safeguard your business from insolvency', enriched with insights from industry experts.

CreditorWatch July 2023 product updates

Our monthly summary of product launches and updates for June 2023.

How Financial Risk Assessments can power up your onboarding process

In the ever-changing realm of finance, where uncertainty looms and economic conditions can shift rapidly, conducting proper due diligence of vendors and customers through financial risk assessments (FRAs) has never been more important.

When do credit card companies report? 

Credit card companies pass a large amount of consumer and business data on to credit reporting agencies and bureaus, such as CreditorWatch, to inform their credit scores and debtor risk analysis. Each credit reporting body has independent in-house policies for collecting this data, including the frequency, time points of collection, and sources.

KYC requirements in Australia - What are they and why do they matter? 

‘Know Your Customer’ (KYC) compliance involves meeting the standards set by regulators for customer verification and identity checking, depending on your type of business, service provided and industry. Enforcing KYC checks allows regulators and authorities to mitigate criminal activity such as money laundering and the financing of terrorism.

How do debt collectors find you in Australia? 

Typically in Australia, when a debt collector takes up the collections effort for a creditor (or buys the remainder of the debt), the creditor will provide them with any contact details it has on file. If this is insufficient or the debtor’s details have changed, the collections agency or creditor may use search tools such as CreditorWatch’s business search portal to find missing information. In certain circumstances, a creditor or debt collector can apply to a court for a ‘substituted service’, allowing them to attempt contacting a debtor via less traditional means such as social media.

How to deal with debt collectors

When a business, bank, credit union or lender have exhausted their in-house options to recover money owed, they turn to a debt collection service for debt recovery in Australia. These agencies and providers follow up on late or non-paying debtors, either for a fee to the creditor or after buying the remainder of the debt outright.

Momentum slows in Construction and Hospitality sectors

The latest Monthly Business Indicator data released by the ABS indicates that momentum in the Construction and Food and Accommodation sectors continues to slow.

Business Risk Index: Business payment defaults surge 52%; On the upside, Western Brisbane the most-improved region in Australia

The June 2023 CreditorWatch Business Risk Index (BRI) show business payment defaults surge 52%; On the upside, Western Brisbane the most-improved region in Australia.

Debt collection agencies in Australia 

A debt collector represents a last resort for creditors seeking payment from unwilling or late paying debtors.

RBA leaves cash rate on hold at 4.10%

The Reserve Bank of Australia (RBA) made the decision today to hold the cash rate at 4.10 per cent, with data released in June not definitive enough to warrant a further increase at this stage. There is still concern about the very tight labour market and underlying inflation. Looking overseas, inflation in areas that are typically labour intensive is only decreasing very slowly, while price rises for goods are coming down faster. This is the same in Australia, where we recorded a decline of 0.4% in the price of clothing and footwear.

CreditorWatch partners with Credit Sense to expand end-to-end commercial credit risk management offering

CreditorWatch helps business lenders provide faster loan approvals by completing loan affordability assessment in just minutes, instead of hours

What happens if a debt collector cannot find you in Australia? 

Even if a debtor changes address or other details, debt collectors can still attempt to serve legal documents via several different means. Remaining uncontactable does not instantly wipe the debt, and you may be liable for further legal action or asset seizure in the future.

RBA's wrestle with inflation has a few rounds to go

Incoming data in June was mixed, with business and consumer sentiment falling, but retail trade and the labour force still not weakening to the extent that the RBA would like them to.

How often does your credit score update?

Because the data sources and time points for collection vary from one reporting agency to the next, there is no universal standard for when credit scores update.

Annual credit reports in Australia - What are they and how to access them

A credit report provides insight into a business or individual consumer’s risk as a trading partner or debtor.

Fake bank accounts - What to do about fraudulent banking accounts

There has been a steady rate in the reporting of criminals using false or stolen identities over recent years.

Podcast: Business Risk Index, May 2023 - Key business indicators show conditions worsening; NSW Central Coast suffers biggest YoY jump in business risk

CreditorWatch Chief Economist Anneke Thompson and Head of Content Michael Pollack unpack the CreditorWatch May 2023 Business Risk Index results.

Consumer belt tightening hits retailers hard

Consumer sentiment took another dive this month, following another interest rate rise after the June RBA board meeting. Westpac reported that responses during its monthly survey in June (taken over a few days before, during and after the board meeting) deteriorated dramatically following the RBA’s decision.

Business Risk Index: Key business indicators show conditions worsening; NSW Central Coast area suffers biggest YoY jump in business risk

The May 2023 CreditorWatch Business Risk Index (BRI) show Australian businesses are coming under increasing pressure.

Can debt collectors charge interest Australia?

In Australia, a debt collector or collections agency cannot charge additional fees or interest to the debtor beyond those outlined in the original contract.

Australia’s unfair contract terms regime changes significantly

The ‘unfair contract terms’ laws (as set out in the Australian Consumer Law (ACL) establish out a regime whereby a term in a consumer or small business contract will be void if the term is unfair and the contract is a standard form contract.Australia’s Unfair Contract Terms regime (UCT) has now been significantly expanded in respect of ‘small businesses’. The changes were passed by Parliament on 28 October 2022 and will come into effect on 9 November 2023.

Insolvency warning signs – what to look out for over the remainder of 2023 and beyond

This year has already thrown up a number of challenges for business and individuals alike. Continued inflation, rising interest rates, supply chain issues, labour shortages and extreme weather have all meant that a large number of companies have and will continue to face various challenges that can lead to financial distress, including insolvency.

Consumer sentiment stabilises at ‘near recession lows’ while pockets of stubborn inflation remain

Consumer confidence remains near recessionary levels, with consumers surveyed by Westpac after the rate rise decision on June 6 noticeably more pessimistic than those surveyed the day prior.

Insolvency Notices Alert: What is it and how does it work?

In Australia, an insolvency notices alert is a notification service provided by different companies such as CreditorWatch, to alert subscribers to new insolvency notices related to companies or individuals such as external administrations, winding up applications (voluntary or court mandated), and proposed company deregistrations.

RBA increases cash rate to 4.10%

Despite clear signs that the Australian economy is well and truly into its necessary slowdown, the Reserve Bank of Australia (RBA) today increased the cash rate by a further 25 basis points to 4.10%, in an effort to combat services side inflation.

Fees for debt collection: How much does a debt collector cost?

Dealing with overdue payments is an unfortunate reality for many businesses, particularly in tough economic conditions. When efforts to collect debts internally prove ineffective, enlisting the services of a debt collector becomes a viable option.

Invoice financing for small business - What is it and how does it work?

Invoice financing for small business is a common method of financing for small businesses. Also known as business invoice finance, it provides access to immediate cash funds.

End of Financial Year Survival Guide 2023

As Australian businesses brace themselves for a challenging FY24, we have launched our comprehensive "End of Financial Year Survival Guide 2023". The report, enriched with insights from our panel of expert contributors, provides valuable tips and tools to help businesses prepare for the next 12 months. We offer an economist's perspective on the outlook for FY24, and industry-leading guidance on optimising cash flow and recognising early indicators of insolvency, empowering businesses for growth in the new financial year. Download the full report here.

Inflation moves past peak but areas of concern remain

This month’s economic data was dominated by the release of quarterly CPI data. While an increase of 7.0% for the March quarter was promising in that it showed inflation is definitely reducing (down from 7.8% for December quarter), it is still high, and actually increasing in the services sector.

Credit check organisations in Australia - Who are they and what do they do? 

Credit checking for Australian businesses is the speciality of the CreditorWatch team. Credit checking due diligence helps creditor companies, lenders, and banks create a clear picture of borrower risk. This analysis helps determine what credit terms to extend to debtors, if any.

How to check credit references for businesses 

Running a credit check on a business is essential for proactive risk mitigation strategies. Checking credit scores for businesses is made intuitive with the advanced RiskScore platform from CreditorWatch. You can check the creditworthiness of any existing or prospective company client with a simple ABN or ACN search, and better inform your decisions with sophisticated data. Read on to learn how to do a credit check in our guide below.

Empower your Career: The Vital Role of Mentoring, Networking and Being Visible

In today’s job market, building a strong network and finding a great mentor are critical to achieving your goals. This is especially true now that the job market is more competitive than ever before, with hundreds of qualified candidates vying for the same positions.

Good debt vs bad debt: What is the difference?

Good debt refers to borrowing that can generate long-term benefits and enhance a business's financial position. In contrast, bad debt refers to borrowing that does not contribute to the growth or profitability of a business and can potentially harm its financial health.

How to manage the fintech margin squeeze

The tech industry has long been associated with relentless investment and rapid growth. However, amid rising interest rates and difficult market conditions, the global fintech market is facing increasing challenges. It is crucial for industry players to reassess their strategies and prioritise sustainable growth. In an insightful article for FinTech Australia titled 'How to manage the Fintech margin squeeze’, our Enterprise Account Director, Stirling Streeter, delves into the consequences of the ‘growth at all costs’ mindset and offers valuable guidance on risk mitigation.

Afterpay vs credit card - What is the difference?

Afterpay is leading the charge for Buy Now, Pay Later (BNPL) service providers in Australia. It offers customers the chance to pay off a purchase in four instalments, paid fortnightly. A credit card, by contrast, gives users access to a continuous active line of credit,

How to give someone a bad credit rating in Australia

As a business or individual consumer, you cannot manipulate someone else’s credit score. However, you can alert reporting bodies, such as CreditorWatch, of negative payment behaviour or adverse events to inform their analysis.

How much does Afterpay charge retailers? Merchant fees explained 

Afterpay took the Buy Now, Pay Later (BNPL) services market by storm when it was launched in Australia in 2014, appealing to young consumers with the prospect of interest and fee-free payments (if made on time). To make a profit, most of Afterpay’s revenue comes from merchants, with a flat merchant fee of $0.30 and a 4-6% commission based on the value of the sale. Late charges from customers also account for a proportion of its income.

Hospitality bears the brunt of high services-based inflation

In this month’s Business Risk Index, the bounce back in trade receivables data that we recorded in March was broadly consistent in April.

Credit controller salary - how much do they earn in Australia?

The average salary for a credit controller varies from city to city and state to state. According to the jobs website, Seek, an average annual credit controller salary in Sydney ranges from $75,000 to $85,000.

Business Risk Index: Trade activity surging despite rising external administrations; SE Queensland hit hard by defaults

The April 2023 CreditorWatch Business Risk Index (BRI) has revealed that the average value of invoices (trade receivables) remained elevated in April despite other leading indicators showing that businesses are coming under increased pressure.

Credit reference check: What is it & how does it work? 

A credit reference check, or credit report check, describes accessing a business or individual’s credit file with a reporting body. Australian companies can sign up for a free trial of the credit reporting tools from CreditorWatch to check the creditworthiness of trading partners before extending terms. Conducting this due diligence allows for proactive corporate risk management, avoiding risky debtors before they threaten vital cash flow.

How to check a credit history in Australia - A step-by-step guide

Credit reporting agencies in Australia, such as CreditorWatch, analyse enormous datasets to generate credit scores for businesses or individual consumers. Companies, banks, lenders and other creditors use this information to determine the suitability of debtors and applicants for loans.

What is financial risk?

Financial risk is the potential for loss or adverse consequences resulting from inadequate or failed financial decisions, investments, or operations. It encompasses various factors that can impact a company's financial stability and profitability.

Best credit repair companies in Australia

In today's financial landscape, maintaining a healthy credit score is crucial for accessing various opportunities, from securing loans to renting an apartment. Unforeseen circumstances or past financial mistakes can leave individuals burdened with a less-than-ideal credit history. This is where credit repair companies step in, offering their expertise to help individuals repair and restore their creditworthiness. In this article, we will delve into the world of credit repair companies, exploring their purpose, operations, benefits and the signs of reputable service providers in Australia.

What is credit risk?

For businesses, credit risk is the risk of loss that arises from a customer, partner, or supplier failing to fulfil their financial obligations to the company.

Example of financial risk - how does it work?

The term ‘financial risk’ refers to the potential for a loss of earnings or income. The higher the likelihood or severity of that outcome, the greater the financial risk. Businesses and individuals alike must responsibly manage their exposure to these risks to mitigate the prospects of insolvency, default or bankruptcy.

How to check a business credit report - A step-by-step guide

A credit report details a potential borrower or debtor’s risk to the lender or creditor. A credit reporting agency, such as CreditorWatch, analyses large subcategories of business data to generate our reports and credit scores for Australian companies.

The CreditorWatch difference

At CreditorWatch, we understand and value the confidence you place in us when you register to use our platform. We know that you rely on us to support your business with credit risk management tools that help you protect and grow your business while ensuring that your data is safeguarded with gold-standard security protocols.

What is the way forward for the construction industry?

At CreditorWatch, we understand the current challenges faced by construction firms in Australia. That's why we are excited to announce the release of our latest report, 'Cracks in the Foundations 2023.' This comprehensive report provides valuable insights and guidance to help businesses navigate the tough trading environment and kickstart growth. Download the free report here: https://creditorwatch.biz/3NCuest

Accounts receivable turnover ratio formula and calculation

The accounts receivable turnover ratio is a financial metric used to measure the efficiency of a company's collection of its outstanding customer invoices.

Managing financial risk - What is it and how does it work? 

The term ‘risk’ refers to the probability of an adverse outcome occurring. The higher that probability, the riskier the activity. ‘Financial risk’ applies that concept to a potential loss of income or revenue for a business or individual.

Debt collection in Australia - How does it work?

Debt collection describes recovering overdue funds owed to a creditor, administered by a third party for a fee. If a business or individual considers themselves unable to recoup money owed after taking steps to collect it - they may decide to contract the services of a debt collector.

PPSR - What is the Personal Property Securities Register?

A security interest is a debt or obligation secured by personal property (known as collateral) as defined by the Australian Financial Security Authority (ASFA). In the event that a debtor fails to meet their obligations, such as defaulting on payments, the secured creditor can take possession of the collateral.

Customer due diligence – what is it and how does it work?

Customer due diligence (CDD) is the process of verifying the identity of a customer, assessing the potential risks associated with their activities, and determining whether their behaviour and transactions are consistent with their known or stated activities.

RBA increases cash rate to 3.85%

For the first time since the start of this monetary policy tightening cycle, the Reserve Bank of Australia (RBA) was faced with a set of data that gave it no clear indication of which way to move and has left the cash rate on hold at 3.60%.

How to run a credit check on a business

Running a credit check on a prospective new client can help a business mitigate the risk of bad debt. However, some companies may find this exercise intimidating or confusing. Luckily, the credit reporting suite from CreditorWatch takes the hassle out of this essential process.

Financial risk - What is it and why is it important?

Financial risk represents the likelihood of an unfavourable outcome relating to personal or business decisions. The higher the financial risk exposure, the greater the chance of losing money or becoming indebted.

Does closing a credit card hurt your credit score?

Closing a credit card account may impact an individual or business’s credit scores, depending on the nature of the closure. Any credit account closure can affect credit scores to some degree, as reporting bureaus look favourably on maintaining regular payments on these products, and you will subsequently have less information on file.

What happens in a recession

Historically, an economic recession is declared once a country or state records two consecutive quarters of negative growth in Gross Domestic Product (GDP).

Business credit cards - Top 5 options for a company card

A business credit card allows a business owner or one of their nominated staff to purchase items on credit. The balance of this credit gets settled at the end of the statement period, which may vary from one credit product to the next.

UBO Meaning - What is ultimate beneficial ownership?

Ultimate Beneficial Ownership (UBO) describes the controlling beneficiaries - individuals, companies, or groups - that ultimately collect profit when a business conducts a transaction.

April economic update - Lower inflation cuts odds for May rate rise

This month’s economic data was dominated by the release of quarterly CPI data. While an increase of 7.0% for the March quarter was promising in that it showed inflation is definitely reducing (down from 7.8% for December quarter), it is still high, and actually increasing in the services sector.

Credit check for tenants - how do landlord credit checks work?

It has become common practice in Australia for landlords (or property managers working on their behalf) to check the financial history of prospective tenants. A credit check for tenants allows landlords to assess their rental payment capacity and track record. Some credit reporting bureaus or property management-specific providers offer services to conduct a landlord credit check for tenants.

What is a beneficial owner of a company?

A company's beneficial owner is an individual or entity with a large share of ownership or control over its management, often without public disclosure.

Credit control policy and procedures

Credit control is the process of getting payment from customers that you’ve extended credit to. Extending credit is a common and necessary business practice.

What is bad debt? Definition, meaning and examples

What is a bad debt? It is simply credit that you’ve extended (i.e. your accounts receivables) that you can no longer collect on.

Hospitality tops list of industries at risk as cost-of-living pressures begin to bite

This month’s data revealed the strongest bounce back in trade receivables data on record. This is an 86% increase on the previous month’s trade receivables data, but still 5.6% below trade receivables recorded in March 2021 and March 2020.

Business Risk Index: Business activity back to pre-COVID levels but for how long?; High risk regions - six of the 10 worst are in Western Sydney

The March 2023 CreditorWatch Business Risk Index (BRI) has revealed, on multiple indicators, that business activity has returned to pre-COVID levels despite continued high inflation and interest rates.

Is accounts receivable an asset or liability?

Accounts receivable is an asset because it is money owed to a company. It should result in cash inflow for the company in the near future.

How CreditorWatch protects businesses, while saving them time and money

A common struggle facing small business owners is juggling the need to protect cash flow from risky trading partners, with the lack of time and resources available to manage this risk properly.

Unsecured business loans in Australia – Everything you need to know

A business loan is a type of loan designed to provide financing to businesses to help them cover expenses, make investments or manage cash flow.

DataX: What is it?

DataX is a data analytics service that Westpac offers to guide large client businesses in Australia. The analysis enables users to inform their operations with reliable insights by leveraging the institutional bank's extensive consumer and corporate data.

What is a credit report?

A credit report is a detailed record of a business or individual's credit history, which includes information about their credit accounts, credit inquiries, and payment history. This report is compiled by credit reporting agencies, such as CreditorWatch, based on the data provided by lenders, credit card companies, and other creditors.

RBA leaves cash rate on hold at 3.60%

For the first time since the start of this monetary policy tightening cycle, the Reserve Bank of Australia (RBA) was faced with a set of data that gave it no clear indication of which way to move.

Credit score vs credit rating vs credit report - What is the difference?

Getting your head around the ins and outs of credit reports can be challenging, especially the differences between key terms, such as credit report vs credit score. Let’s break down everything individuals and businesses need to know about credit reports.

What does comparison rate mean?

A comparison rate is a financial term used to describe the true cost of a loan or other financial product, including both the interest rate and any associated fees or charges

What is credit management?

Credit management is the process of managing the credit risk associated with extending credit to customers or clients. Its main purpose is to ensure that businesses can collect payments for goods or services provided to customers within a reasonable period of time, while minimising the risk of late payments, defaults and bad debts.

Economy coming off the boil but some sectors still red hot 

The Australian economy is in the early throes of its necessary slowdown. The risk of the slowdown getting out of the RBA’s control was heightened this month by news of liquidity issues in some US and European banks.

Applying for a business credit card - How to get approved (step by step) 

A business credit card works like a personal credit card, in that it allows an owner or employee to make company purchases on credit, which should be repaid to the card provider at the end of the statement period.

Mortgagee vs Mortgagor - What is the Difference? 

Q: What is the difference between a mortgagee and a mortgagor? A: A mortgagee is a lender or financial institution that provides a loan to purchase a property. A mortgagor is a borrower who receives a loan, using their assets as collateral.

What is a land surveyor and what do they do? 

Land surveying definition: Professional land surveyors provide measurement and boundary-marking services for construction projects. Experts recommend contacting a professional surveyor before developing to ensure site accuracy and mitigate potential issues ahead of time.

Best secured business loans in Australia - Everything you need to know 

When a business applies to a bank, lender or credit union for additional funds, it is applying for a business loan.

Can you check your credit for free? 

A credit report details an individual or company’s history of applications and repayments with credit products and utilities.

Proactive measures to tighten up your cyber-security - Q&A

According to the latest annual cyber-threat report from the government cyber-security agency, the ACSC (Australian Cyber Security Centre), cybercrime increased 13% over the last financial year with a rise in the sophistication of cyber threats, making crimes like ransomware and fraud easier to replicate at a greater scale.

What are accounts receivable and why are they important?

The accounts receivable definition is the money owed to your company by customers for the goods or services you’ve provided, but for which they are yet to pay.

Does applying for a loan hurt your credit score? 

When you submit an application for a loan, the lender will conduct a ‘hard enquiry’ of your credit score. This enquiry remains visible to other lenders in your credit history, allowing them to see how recently and frequently you’ve tried to access credit.

Identity theft in Australia - How to check if someone is using my identity? 

A serious crime in Australia, identity theft has become a more pressing issue as customer information is increasingly stored online, as shown by recent hacks to Optus and Medibank.

Secured vs unsecured loans - What is the difference? 

The difference between a secured and unsecured loan is whether or not assets are provided as security interests to guarantee the loan.

Winter is coming! Retail trade, February 2023 data

February Retail Trade data indicates that Australian consumers are continuing to reduce their spending on discretionary goods. Spending on household goods was flat over February, while spending on ‘other retail’ declined by 0.4%.

Drawing a line in the sand for collections

It’s a clichéd phrase, this “Line in the Sand” stuff isn’t it? It says “Just stop, I’ve had enough”. Whether it’s an over excited puppy, an annoying colleague or even listening to your own internal critic, we all know there comes a time when we need to put a halt to things as they are.

Accounts receivable vs accounts payable – What's the difference?  

Do you remember that awkward conversation with your bookkeeper? Yeah, you know the one. They asked you about your accounts receivable and you confidently launched into a rundown of the business expenses you’d recorded for the past month

Short-term loans for business - How to get approved 

When a business applies for funds from a bank, lender or credit union, it is applying for a business loan. Short term loans for business may be ‘secured’ (underwritten by collateral such as property) or unsecured, with interest varying accordingly.

What is trended data?

Companies are increasingly exploring new ways to analyse and leverage the data they collect. Trended data describes the analysis of a dataset over time, as opposed to a snapshot at a single moment.

Credit Control: what is it and why does it matter?

We’re betting you’ve heard the words credit control being bandied about, but if you’re not sure exactly what it means or why it’s crucial to your business success, read on.

Reap the benefits of benchmarking

CreditorWatch, Australia's leading credit reporting bureau, has today launched a Portfolio Risk Benchmarking Report, providing Australian businesses with unprecedented access to credit risk benchmarking insights.

Portfolio Risk Benchmarking Report FAQs

This report is a short-form risk driver analysis which provides a view of your customer base compared to the national average. It benchmarks lending or credit portfolios against comparable organisations.

Have Confidence in Data Security with CreditorWatch

Data breach. Two words that send shivers down any company exec’s spine. Unfortunately, they’re increasingly common, the effects are widespread across a business’ operations and the financial impact can be massive. At CreditorWatch we’re acutely aware of the trust you place in us when you sign up to use our platform. We’re continually monitoring our information security management to ensure that our platform remains at the highest level of security.

How to find untapped liquidity in your business

Working capital efficiency is crucial to your business success but it is being seriously impacted by the macro-environment. We are currently facing a period of economic change unlike we have experienced for many years – rising interest rates, rising cost-push inflation, increased capital costs, rising operating costs, supply chain and labour constraints, increasing costs of living, a looming recession and a lingering COVID-19 pandemic.

Outsourced credit control services and benefits

Outsourcing across many roles and industries has become increasingly popular over recent years. And as the popularity of outsourcing has grown, so has the ease of finding and engaging outsourced support. Outsourced credit control services is among those that have grown in popularity.

Credit Controllers - What are they and what is their role?

Proper credit control is crucial for maintaining smooth and even cash flow within a business. But what is the definition of a credit controller? A credit controller manages credit that is extended to customers. Central to this role is the responsibility for collecting payment on all invoices issued and monitoring payments so that customers who do not pay on time can be followed-up and outstanding payments can be collected.

Does Australia have credit scores?

Every Australian consumer has a credit file with the three main consumer reporting bureaus: Experian, illion and Equifax. CreditorWatch differs to these bureaus in that it is a specialist B2B credit reporting bureau and doesn’t collect data on consumers.

Why is my credit score different between reporting bureaus?

The major credit reporting bureaus in Australia have different scales for their credit scores. Your credit score will differ depending on the entity providing the credit file, as each reporting bureau uses different metrics and different rating categories to inform the score.

Business Risk Index: conditions tighten further; default rates higher in regions with more younger people

The February 2023 CreditorWatch Business Risk Index (BRI) shows that business conditions, particularly around payment times have tightened due to high inflation and interest rates, in combination with falling demand.

Australian Economy - Outlook 2023

The outlook for the Australian economy in 2023 is one with much uncertainty. While monetary policy easing appears to be working on flattening the growth in prices of goods, rising services prices continue to be a problem both in Australia and globally.

What credit score do you need for a business loan?

An Australian business’s ability to gain approval for a loan depends upon various factors, such as the individual criteria of the lender, and its assessment of the borrower’s credit risk.

RBA increases official cash rate to 3.60%

Despite clear signs that the brakes are being slammed on the Australian economy, the Reserve Bank of Australia (RBA) increased the cash rate by 25 basis points to 3.60% – the 10th consecutive increase.

The big squeeze – rising costs and falling demand pressuring businesses

This month we were able to get a guide on what listed Australian businesses are anticipating for the year ahead, as reporting season began. While most listed retailers reported strong earnings for the second half of 2022, many downgraded or emphasised caution in their outlook for sales in the year ahead.

Cash is king: CreditorWatch launches fast and easy debt collection service

CreditorWatch today launched its automated debt collections solution, CreditorWatch Collect. The latest offering from the commercial credit reporting bureau gives businesses struggling to keep on top of cash flow access to a tool to transform their accounts receivables and collections processes.

Credit portfolio management - what is it and how does it work? 

Credit Portfolio Management (CPM) involves the analysis of a business or lender’s credit portfolio to determine an effective balance of net risk and growth. The larger the diversity of borrowers and loan amounts, the more critical this process is.

Can a business buy a residential property in Australia?

A business’ revenue, or credit, can only be used to buy commercial real estate, which has the express purpose of being used for commercial ventures. In instances of a mixed-use block, a commercial loan product may be available to account for a percentage of the purchasing price.

Bankruptcy FAQs: Life after a bankruptcy discharge 

Bankruptcy has a sinister reputation. It carries the stigma of failure and a perception that someone is incapable of managing their personal finances. However, there is a light at the end of the tunnel for anyone going through bankruptcy.

Bankruptcy search - what is it and how does it work?

When you file for personal bankruptcy the details are kept on the National Personal Insolvencies Index (NPII). This public register allows any interested party to search for bankruptcy filings in order to inform their decisions and actions.

Business Risk Index results - January 2023

The January 2023 CreditorWatch Business Risk Index (BRI) reveals that business conditions are turning for Australian businesses, with a number of key metrics continuing to decline after a subdued end to 2022 as the RBA continued to tighten the screws on interest rates.

Invoice discounting - advantages, disadvantages and how it works 

Invoice discounting, also called invoice finance and cash-flow finance, can be a useful financing tool for businesses looking to take advantage of early access to money that they are owed. So long as they are diligent, they may be able to leverage this revenue to improve the profitability of the enterprise.

CreditorWatch only credit reporting bureau certified as ATO Digital Service Provider

CreditorWatch has become the first credit reporting bureau in Australia to be granted the Digital Service Provider (DSP) certification from the Australian Taxation Office (ATO). The ATO performed its security due diglience on CreditorWatch, assessing the company’s data security procedures and uptime against the government agency’s DSP Operational Security Framework before granting certification of compliance.

Debt charge-offs: What are they and how do they work?

A ‘charge-off’ describes a debt that is considered by the creditor to be unlikely to be paid. It follows a period of default after the borrower has become delinquent on the repayment of a product, such as a home loan or phone plan.

4 Overdue invoice reminder email templates that really work

Strong cash flow is crucial for business success and longevity. But chasing outstanding invoices can prove difficult. Late payments are a real problem, particularly for small businesses. This is where a best practice overdue invoice reminders workflow comes into play.

What can debt collectors do if you don't pay? 

The actions debt collectors can take if you don’t pay a debt depends upon the severity of the debt, and the extent that the payment is delayed.

APR vs APY - A simple explanation of how they are different 

APR and APY describe two sides of the same coin in relation to interest paid and earned. A simple explanation is that the Annual Percentage Rate (APR) is a measurement of how much you’ll pay in interest and other costs when you borrow money. Conversely, the Annual Percentage Yield (APY) reflects how much you will earn on money in interest when you save.

What to do if you get an ATO Director Penalty Notice

As we emerge from the COVID-19 pandemic and the business landscape returns to normal, the ATO is again ramping up its enforcement of outstanding tax liabilities with more than 50,000 Director Penalty Notices (DPNs) issued last year on directors, which if not dealt within the strict timeframes specified, can lead to personal liability.

What is a bad credit score?

The credit rating bureaus and agencies have different tiers of credit risk that they assign to you within your credit file, according to your credit score. Typically, an individual or company applying for credit would want a score within the ‘average’ tier at a minimum, with a preference to be higher.

Business loans for bad credit - three ways to get approved in Australia

Whether you’re seeking a long-term business loan or a small loan to start a business, having a less-than-stellar company credit history can feel like a life sentence. However, there are options available to business owners that could be worth considering, to improve the likelihood of approval for a loan or line of credit and improve your business credit score.

How Long Does Bankruptcy Stay on Your Credit File in Australia? 

If you are unable to meet your debts or liabilities when they are due, you may have to file for personal bankruptcy. Banks, lenders and trading partners all need to be kept informed of this information if enquired, as it can affect their perception of your creditworthiness and suitability for loans. As such, bankruptcy information remains on your personal credit file for five years or longer.

Boost your career with an automated collections process

Automating your accounts receivable is an easy, fast and cost-effective way to stand out from your peers and shift your career up a gear. While automation can be daunting, it’s a forward-thinking, digitisation project to lead.

Why automated collections are better than spreadsheets

Almost 90% of CFOs say that a lack of automation is one of the main roadblocks to an efficient financial close process. Yet most businesses continue to rely on spreadsheets and only the most basic level of automation when it comes to their accounts receivable.

What is KYC? Know Your Customer Verification Process Steps Explained 

Know Your Customer (KYC) due diligence means checking customer and partner business identification to protect against criminal activity. Within Australia, certain businesses are required to comply with KYC safeguards and reporting through Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) legislation, also referred to as the AML/CTF Act.

Cash control: How to improve your debtor management

Most businesses are not managing their debtors effectively and efficiently. Many don’t even realise it because they’re doing what they’ve always done.

Dealing with risky businesses

To be considered a high risk business, an entity will typically display a high risk of financial failure, reflected in its credit score, and/or operate in a high-risk industry.

Identity theft: What is it and how can you avoid it? 

Identity theft is an ever-present threat within Australia and globally, as shown by the recent data hacks of large companies such as Optus and Medibank.

How to reinstate a deregistered company

Once a company is deregistered within Australia, it ceases to exist as a legal entity and can no longer trade. Should you meet certain criteria, you may be able to reinstate the company – effectively restoring it to its form prior to deregistration.

What is a recession?

The term ‘recession’ has typically described two consecutive quarters of negative Gross Domestic Product (GDP) growth, although other metrics may be applied by economists. It is denotes a downturn in economic conditions and activity for a particular region or country.

Creditors' voluntary liquidation: what is it and how does it work? 

If the shareholders of an insolvent company vote in favour of liquidation, or if creditors vote in favour of liquidation this is commonly referred to as creditors’ voluntary liquidation. It is the most common type of insolvent liquidation.

How to wind up a solvent business in Australia

Closing a business can be as simple as voluntarily deregistering the company with ASIC. However, if this option is not available to you, you may need to wind up the business by making a declaration of solvency.

24/7 Monitoring and Alerts: FAQs

Consistently monitoring your customers for increasing credit risk and adverse events is critical to protecting the cash flow of your business.

Business Risk Index results for November '22 with Anneke Thompson

CreditorWatch Chief Economist Anneke Thompson takes us through the November 2022 results for the Business Risk Index.

Best and worst of 2022: a rollercoaster ride for Australian businesses

It has certainly been a year of highs and lows for the Australian business community, writes CreditorWatch Chief Economist Anneke Thompson.

How to calculate credit risk in the hiring and rental industry

By determining a customer's creditworthiness using credit reporting and RiskScore solutions from CreditorWatch, you provide essential security for your cash flow and goods.

How good customer onboarding practices can transform a business

Gone are the days where businesses had to rely upon paper-based applications when assessing new clients that sometimes took weeks to complete. Things are now much quicker but in this challenging operating environment, performing proper due diligence prior to approval of credit applications is crucial.

What happens if you don't pay Afterpay at all?

Sometimes, life gets in the way, and even the most diligent spender can miss an Afterpay payment (or two).

Business Risk Index November 2022, Industry Insights

This month’s data showed some reasonably surprising insights into the state of business activity in Australia. While we usually see a run up in trade receivables as Christmas approaches, this key indicator of business activity has been flat since July and declining since September.

Sign of the times - trade receivables point to subdued December trading period

The November 2022 CreditorWatch Business Risk Index (BRI) reveals that the usual trade momentum going into December has failed to materialise and businesses should brace for a more subdued Christmas trading period.

Avoid the late-payment drama and get paid faster

Month-end is often a much-maligned time. Chasing down unpaid invoices and late payments takes time, can be unpleasant and can lead to frustration for both you and your customer.

Debt collection FAQs

A business must rely on more than just a handshake agreement to ensure that invoices are paid on time and bad debt is avoided. However, you’d be surprised how many companies are flying blind, operating without appropriate debt collection tools and templates that ensure payments are made and debts are repaid.

DebtorLogic: frequently asked questions

Staying on top of the financial health of your client base is crucial to ensuring your business maintains a healthy cash flow.

RBA raises cash rate from 2.85% to 3.10%

Today’s decision by the RBA to further raise the cash rate will place undeniable financial pressure on Australian households. Combined with the Budget’s forecast rising prices on everyday goods, housing and energy, and lacklustre wages growth, this latest increase in the cash rate all but guarantees consumer confidence will weaken as we enter the busy Christmas retail period.

November Economic Update

This month we saw a continuing emergence of signs that interest rate rises are slowly starting to have an impact on the Australian economy. The first hint came in the form of retail trade, released early in the month, that showed a 0.2 per cent month-on-month decline in retail trade.

Reinvent the way you collect debt. A faster, simpler and cleaner experience

DebtorLogic is a debt collection strategy that helps you stay ahead of bad debt by revealing how your customers pay you in comparison to the rest of the market. It helps businesses to get paid faster and improves cash flow by taking a proactive approach to debtor management.

How to improve your chances of collecting outstanding payments

The Australian economy is struggling with supply chain issues, rising interest rates and ongoing financial uncertainties. While growing debt could potentially cause the demise of your business, collecting outstanding payments is proving to be more difficult than expected.

Securing your cash flow over Christmas and New Year

The silly season is upon us and chances are your calendar is already beginning to fill up with end of year catchups and Christmas parties. Then there are the many meetings to discuss projects that must be completed before we all head off for a bit of respite and sun.

Meet the Crew: Teagan Caruana and Lucy Stewart

Gain an insight into the lives of two of our CreditorWatch crew members and learn more about their interests, passions and secret talents.

Strike Off Action in Progress: what is it and how does it work?

Effectively, a ‘strike off action in progress’ notice means the nominated company will be dissolved unless preventative action is taken.

Cash is king! Best practice fundamentals for improving working capital

The COVID-19 pandemic generated economic volatility, labour shortages, and supply chain disruptions that impacted the working capital of many businesses and forced them into survival mode and the adoption of more conservative strategies. Aside from the fluctuating business recovery in the post COVID-19 era, there are now legitimate concerns around the forecast of difficult economic conditions in 2023, as highlighted by CreditorWatch in its recent snapshot Economic Update – October 2022.

Five tips to help construction businesses collect debt faster

It’s a tricky time to be operating in the construction industry. As seen with the recent collapses of multiple Australian construction companies, increased operating costs and a downturn in revenue can quickly result in defaults and insolvency. It sounds simple, and it’s not always easy, but the best way to safeguard your business from the myriad challenges confronting the industry is to ensure that cash flow is regular and protected. If you have the money to pay the bills, then you’re more likely to survive and thrive.

A tale of two economies; Small business struggling as late payments take hold

SYDNEY, Wednesday 16 November 2022 – The October 2022 CreditorWatch Business Risk Index (BRI) has revealed that small businesses are feeling the pinch of the current economic pressures while big business is faring much better.

Business Risk Index October 2022 Industry Insights

This month’s results from both CreditorWatch and other important industry data show a clear downward shift in business confidence and more treacherous conditions for businesses ahead. While any deterioration in business conditions can instinctively seem like a negative for the economy, unfortunately high inflation periods can only be ‘cured’ through broad economic slowdowns.

PPSRLogic: Frequently Asked Questions

The Personal Property Securities Register (PPSR) is an online federal government notice board of security interests in personal property. The PPSR is a regulated database of official interests in specific property - including cars, goods, company assets, and other items. When specific types of loan, rental, hire-purchase or other agreements are signed, the property in question (referred to as ‘collateral’) underwrites it. Implemented in January 2012, the security interest register keeps an official log of which parties have a stake in which collateral.

Can I get a business loan with bad personal credit?

Your personal credit history can affect your business credit history, including your ability to gain access to credit products, such as a business loan or a business credit card. If you have a poor credit score, it can make it much more challenging to gain approval for credit products, as a lender may review both your personal credit history as well as your business credit history. However, having bad personal credit and poor credit history isn’t a life sentence and it can be possible to boost your chances of credit approval.

Westpac Consumer Confidence and NAB Business Confidence Conditions

Yesterday’s release of Westpac’s Consumer Confidence and NAB’s Business Conditions survey gave us the clearest signs yet that interest rate rises and inflation are really about to start impacting the performance of Australian economy.

Effects of inflation on businesses: Is inflation good or bad for companies?

Of the many pressures currently facing Australian businesses – rising inflation is one of the most pressing. It impacts everything from consumer confidence to the price of the raw materials. However, it can also create an environment for business owners to raise prices. So, why does inflation occur, what are the effects of inflation on business, and is it good or bad? A little of both, depending on factors such as industry and overheads, as we discuss below.

What is the average credit score in Australia?

In Australia, the average credit score varies depending on which reporting bureau or ratings agency you ask as they all have their own system of measurement. For personal credit, an average score may sit anywhere from 300 to 624. For business credit, it may depend on the agency, but at CreditorWatch this may refer to a business with a RiskScore placing it in the C2 or C3 range.

CreditorWatch launches automated receivables management solution to help Australian companies get paid faster

SYDNEY, Monday 7 November – Australia’s top commercial credit reporting bureau CreditorWatch has acquired Debtor Daddy Limited, an automated receivables management software and collections service provider.

Meet the Crew - Emily Hema and Ada Aldea

What made you want to join CreditorWatch? After working in recruitment for 3 years I was excited to sell a product that wasn’t a person and couldn’t change its mind! I was really impressed with the products at CreditorWatch and how they genuinely make an impact on businesses.

RBA raises official cash rate by 25 basis points to 2.85%

Data and forecasts released in the latter half of October all point to difficult economic conditions in 2023. The RBA board will likely have carefully considered labour force data, which showed that the unemployment rate has stagnated at 3.5%, employment growth has slowed dramatically, and job vacancies have stopped rising.

Economic Update - October 2022

Economic news this month was dominated by the release of the Federal Budget 2022/23 and September quarter inflation. Unfortunately, both releases point to far more difficult economic conditions for Australian businesses in 2023.

How do Australian consumer credit bureaus work?

Credit reporting is a fundamental component of credit approval, management and risk assessment for businesses and individuals alike. Within Australia, there are three different bureaus providing credit reporting for individuals, each generating a score detailing your creditworthiness and capacity for further borrowings. This is different to the credit reporting on businesses that CreditorWatch does. So, who are these consumer credit reporting bodies and what exactly do they do?

Q&A with Claire O'Neill, ATO Assistant Commissioner, Integrity

We sat down with Claire O’Neill, Assistant Commissioner, Integrity at the ATO to find out the options that businesses with outstanding tax debts have, and the steps that the tax office will take to work with businesses before taking extreme action such as publicly declaring tax debts.

September Quarter Inflation Summary

The September quarter Consumer Price Index (CPI) data shows that inflation continues to roar along, with prices growing by 7.3% over the year to September 2022 – the highest level in 32 years.

What credit score do banks use in Australia?

When applying for credit within a bank, you can expect your credit file to get checked with their credit reporting bureau of choice.

Credit risk modelling and analysis: What is it and how does it work?

Risk modelling entails using past behaviour to predict future tendencies. Using a combination of lived experience, machine learning and complex algorithms, the credit risk modelling capabilities available to Australian businesses are being refined with every passing day.

Does using Afterpay affect your credit score and rating in Australia?

We are witnessing the proliferation of innovative ‘buy-now-pay-later (BNPL)’ platforms within Australia and globally. Consumers are compelled by flexible, interest-free payment options, allowing them to spread the budget hit of purchases over time.

What is a good credit score in Australia

Your individual credit score and company credit score are two of the most important indicators of creditworthiness, and showcase your financial responsibility to credit providers, potential new suppliers and trading partners

How long do credit inquiries stay on your credit report in Australia?

When you apply for any credit products, sign up to a utility provider, or consider working with a new business partner, it’s likely a credit enquiry will be performed on you or your business.

How to close down a company by voluntary deregistration

For relevant officeholders enquiring how to close a company formally, the process is not as complicated as it may seem. In simplest terms: if your company has asset holdings totalling under $1000 and has not declared insolvency, you may be eligible to apply for voluntary deregistration.

High risk customers: what they are and how you can protect your business from them

As profit margins dwindle under rising inflation and operating costs, identifying your high risk customers is paramount. Trading with risky clients jeopardises cash flow, integrity, and exposure to litigation.

ApplyEasy: Frequently Asked Questions

When approving or rejecting customers for new lines of credit, it is recommended that you check them for creditworthiness and probability of default.

How manufacturers can reduce risk with Financial Risk Assessments

Ensuring your manufacturing business is paid on time, and engaging with financially healthy customers and suppliers, is essential for the growth and security of your finances.

Managing reputational and credit risk in the construction sector

Within the risk-laden world of construction, integrity and reputation are crucial for survival. Risks to cash flow from non-payment are high. Extending credit to late-paying clients may ultimately send both businesses down the insolvency path.

Why hospitality businesses must consider registering payment defaults

While many of the movement restrictions and space limitations have eased since COVID-19 first hit Australian shores, businesses in the hospitality sector are still experiencing the impacts of the pandemic.

How automated Financial Alerts can reduce risk for hire and rental sector businesses

Enterprises within the hiring and rental business historically operate on a critical foundation of trust. Understandably so, as the value and volume of goods loaned are often significant.

KYC Crypto: What is KYC verification and why do cryptocurrency exchanges need it?

Know Your Customer (KYC) is a fundamental component of how financial sector companies prevent illicit criminal activities, and perform due diligence, for anti-money laundering (AML).

Unemployment remains steady in September

The September unemployment rate was steady on a seasonally adjusted basis, at 3.5 per cent. There was very little movement in both employed people and the number of unemployed people, which rose slightly by 8,800, or 1.8 per cent.

Demystifying the PPSR: protecting yourself, protecting your business

The Personal Property Securities Register (PPSR) is the Australian Government’s online noticeboard of security interests in almost anything of value, except for land, buildings and fixtures. It’s important for businesses to know about the PPSR – but what kind of risk protection can it provide?

Five benefits of Financial Risk Assessments

CreditorWatch’s Financial Risk Assessments provide a comprehensive look into the financial viability of your trading partners, helping you make the right decisions to protect and grow your business.

How real estate businesses can benefit from debt collection tools

The real estate industry relies upon the regularity and consistency of tenancy payments to drive revenue. Property Management often forms the cash flow base for boutique and franchise shop fronts alike, and any disruption can adversely affect the bottom line quickly.

Trade across the board increases as supply and labour bottlenecks begin to clear

Our Business Risk Index (BRI) data for September 2022 was broadly consistent with data trends we have recorded over the preceding months. Trade Receivables continue to increase year on year, indicating that businesses are still feeling relatively confident and that supply and labour bottlenecks are slowly clearing up.

CreditorWatch Business Risk Index: Nation-wide risk of default worsens

The September 2022 CreditorWatch Business Risk Index (BRI) has revealed the risk of default over the next 12 months has increased in all regions across Australia with 5000 or more registered businesses with the exception of the Lower Hunter and Wyong regions in New South Wales.

Making the debt collection process easier for wholesalers

The process of chasing up unpaid debts can feel like an intimidating task, particularly when you’re dealing with multiple products and transactions along an extensive supply chain. However, for businesses in the wholesale sector, it doesn't have to be.

Managing accounts receivable risk in the retail and wholesale sector with DebtorLogic

Overdue invoices can cause a serious headache for retail and wholesale businesses, especially considering the reliance on steady cash flow to buy more stock and supply your goods. Not only is the impact detrimental to your accounts receivable, but also the time spent chasing up late payments eats into operational hours.

Making the debt collection process faster and easier

No matter what your business is manufacturing, the key to the process is cash flow. It’s the vital stream of revenue that allows you to buy your raw goods, pay for the utilities required to produce the product, and maintain the wages for staff. As soon as there is any disruption to cash flow, by virtue of slow creditors, it can spell trouble for your operation.

Get more transparency in your data

Within the often murky world of construction, transparent data gives your team the inside track. Prospective trading partners in the sector have been known to sometimes take steps to obscure or obstruct the discovery of credit risk or instances of malpractice.

Why you should be using CreditorWatch's additional searches

CreditorWatch is not just about credit reports and monitoring. We empower businesses with an extensive range of searches and reports to help them uncover exactly who they’re working with.

How financial risk assessments can help procurement teams

Procurement teams play a vital role that, in many ways, dictates the viability of the operation they represent. Large-scale Australian manufacturing businesses need to source the right goods, at the right price, from the most reputable suppliers in order to have any remote chance of long-term sustainability.

Improving collection rates in the construction sector

The construction sector within Australia is notoriously high-risk. Any exposure to the adverse payment behaviour, credit risk, or directorial malpractice of a trading partner can threaten the viability of your operation. Failing to implement an appropriate debtor management strategy, or using incorrect data, may result in default or insolvency implications for your business. It’s essential that all creditors be managed effectively, with collections prioritised, in order to safeguard your cash flow.

Ensuring fintech businesses that operate in open networks can mitigate risk

For fintech businesses, the use of open networks is one of the foremost advantages of the sector. It differentiates product offerings from competitors and allows market-leading technology to be leveraged. However, this same system exposes these businesses to a litany of risks in a sector that does not assume the same regulated transparency, compliance, or risk reduction policies that lenders or banks are subject to.

Economic Update - Cash Rate increase to 2.60%

Global factors have played a key role in today’s decision by the Reserve Bank of Australia (RBA), as inflation continues to remain sticky in the US, and currency movements make inflation harder to tame in Australia.

Economic Update - September 2022

Global influences continued to have a big impact on the Australian outlook this month. The US Federal Reserve announced a further 0.75% increase to interest rates, while also indicating that they will not deviate from their path of interest rate increases until inflation is under control

Meet the Crew: Agnes Eswono, Senior Product Marketing Manager and Srikanth Roopa, Senior Data Engineer

What do you do at CreditorWatch? I am the Senior Product Marketing Manager. I’m here to help the business identify and build solutions to solve customer problems, and then help customers see why they want and need CreditorWatch’s solutions to solve their problems.

How construction companies can effectively collect debt

The construction industry is operating amidst an abundance of higher credit risk factors, including ongoing supply chain and materials delays, as well as higher costs for materials. When a construction business takes on a project in the current environment, it’s likely exposing itself to some degree of risk.

How wholesalers can optimise debt collection

Following up on unpaid invoices and outstanding debts can be a frustrating and awkward process. Any unpaid credit to your business can have a devastating impact on your cash flow and your ability to turn over stock. Luckily, the credit collection process is not one you must go through alone.

PPSR registrations vs Retention of Title Clauses

Sometimes you think you’re protected, until all of a sudden you’re not. Contract clauses don’t always provide the bulletproof vest for your business that you might assume they do.

CreditorWatch wins three-year contract with Coface to support its credit insurance underwriting business

CreditorWatch is an Australian-owned credit reporting bureau that provides credit and financial risk information, digitised financials, credit scoring and modelling and API driven data delivery.

Why you should do a credit check on every company you work with

Company credit checks are an underutilised resource that can offer significant benefits to any business. Not only can performing a credit check on customers, suppliers or potential business partners protect you from credit risk and cash flow issues - you’ll be able to make more informed, data-driven decisions to facilitate business growth.

Using data to reduce business credit risk

One of the best tools at your disposal to reduce business credit risk is accurate, up-to-date data. Unfortunately, dirty data is a common problem that limits the ability of a company to take action to mitigate credit risk. Luckily, there are steps you can follow to be proactive about your data management and data hygiene.

How transport and logistics companies can manage credit risk

Within the unprecedented high-cost trading environment across multiple Australian industries, high volume Transport and Logistics companies are broadly exposed to credit risk. Ensuring the creditworthiness of suppliers and clients alike is crucial to securing the future of your cash flow and business.

How fintech companies can manage credit risk

At the apex of technology, research, and financial markets - fintech companies are breaking new ground and changing the ways that clients operate. The impacts of smart product offerings, leveraging the latest developments in science and engineering, have been enormous for both individual consumers, and partner businesses.

Improve data management with a Portfolio Health Check

Data is king in the world of contemporary business. Operators that are able to accurately collate and analyse data from trading partners, customers, and local areas can leverage that information to elevate performance.

Difference between reactive and proactive debtor management

Getting on the front foot with your debtor management can mean the difference between healthy cash flow and potential insolvency. There are tools and insights available for proactive debtor management, which can alert you to the dangers of customers at risk of default ahead of time.

What are the credit risks associated with cross directorships?

When conducting business with a trading partner, any potential unknown conflict of interest can derail your operation and expose you to credit risk. The financial impact can be so severe that your business may enter insolvency territory by virtue of the malpractice, bad faith, and bad debt of partner businesses.

How healthcare services can improve credit management in 2022

In a highly time-critical industry, such as the healthcare services sector, the non-payment of invoices, or default/insolvency claims from your clients can adversely impact the ability to provide effective and efficient customer service.

What the PPSR is and why you need to stay on top of registrations

As a hiring or rental business, the top priority (alongside regular revenue) needs to be the security, and retention of ownership, of any loaned or collateral assets. If your security stake in an asset is unproven, you may never either recover the good or be compensated for it, according to strict compliance guidelines.

Tips for avoiding adverse cross directorships in the construction industry

The building and construction industry within Australia is notoriously high-risk. It is quick to be adversely affected by any downturn in the nature of trading conditions, including supply chain delays, steep price hikes on imported goods and raw materials, and rising domestic inflation.

The power of CreditorWatch's debt collection tools

Bad debt can be fatal to a business. CreditorWatch helps you avoid this by taking a proactive approach to debtor management. Our interactive trade payment program, DebtorLogic, reveals your debtors’ payment trends, enabling you to identify risks and prioritise collections.

How to improve your business's financial health

Australian businesses currently in a very fragile state due to the shifting and changing nature of the economy. It is important to focus on the financial health of your business and the steps you can take to improve it.

Protecting the health of your ledger in uncertain times

The current market is experiencing uncertainties that have left most businesses in a very different state to where they were pre-COVID. Many are unaware of new and emerging risks in their ledger.

Pressures increase on businesses as economic conditions change

CreditorWatch’s Business Risk Index (BRI) data for August 2022 shows a clear trend of rising B2B trade payment defaults as the index has for some time, however, other economic and survey data is more inconsistent.

CreditorWatch Business Risk Index: Payment defaults accelerating; key indicator for insolvencies up 53% YoY

The August 2022 CreditorWatch Business Risk Index (BRI) has revealed that trade payment defaults have surged to their highest point since October 2020. Payment defaults are now up a massive 53 per cent year-on-year.

Wholesalers face risks from poor credit application procedures

In the current economy, there are uncertainties and risks around every corner when it comes to running a wholesale trade business.

Why perform a business credit check

Running a B2B business comes with its challenges and one of the biggest is maintaining cash flow. With one bad decision your company can go from booming to bust.

How to manage the risk of business fraud

Any legitimate business should be keen to partner with those they can trust, who manage their capital responsibly, and who won’t be tied to any kind of illegal activities.

How to avoid fraud in the financial sector

For as long as financial services have existed, unscrupulous entities have found ways to exploit their weak spots for personal gain. Fraud itself is nothing new, but there are concerns that those weak spots are now more plentiful and easy-to-find than ever before.

Why you should build a 'cash-excellence' culture

Effective Working Capital Management has always been a business fundamental and long-term practice to help guide future business decisions. In many industries, obtaining adequate financing and balancing debt to equity can be incredibly challenging to maintain.

RBA lifts rates to seven-year high of 2.35%

The Reserve Bank of Australia (RBA) is not shying away from its goal of bringing inflation back inside the target band, and today further increased the cash rate target. Retail trade, labour force and business sentiment data all point to continued ‘heat’ in the economy, even though consumer sentiment and house prices continue to weaken.

How to use business credit reports to avoid supplier hoppers

As a creditor, you want to be sure that your debtors can repay their dues and that each customer is reliable with a trustworthy credit history. CreditorWatch is Australia’s leading credit check business. Our business credit reports help you identify risky customers, allowing you to proactively mitigate risks to protect your business.

How wholesalers can get the most out of PPSR

As a wholesaler, your investments and trading need to come with a high degree of financial safety and security. Any credit risk should be mitigated from the outset and a key tool for wholesalers is the Australian Government’s Personal Property Securities Register (PPSR).

Why do a construction business credit check?

As cracks begin to emerge in the Australian construction industry, various credit risk factors are posing a huge threat to its entire foundation.

Combating fraud and phoenixing in the construction industry

Employing around 1.16 million people in 2021, the construction industry is significant to Australia’s economy. The industry's value sat at $202 billion in 2021 with $81.84 billion of that coming from the private sector.

How your debt collection strategy affects your business

Debt collection is a process of empathy as much as it is strategy. Any company collecting debts from its customers must understand the position each party is in and make it as seamless a process as possible to ensure everyone can focus on running a strong business.

Meet the Crew: Ben Hardy-Rollins and Alberto Cubeddu

What made you want to join CreditorWatch? A couple of things really, the product looked great and the emphasis on the people and culture is something that I believe drives businesses forward.

The importance of credit monitoring for wholesalers and retailers

It’s no secret that the cash flow stability of wholesale trade and retail businesses can change very quickly, especially given ongoing global supply chain delays.

Credit risk management tips for hiring and rental businesses

Within the hiring and rental industry, the security of your assets can often mean the difference between profitability and bankruptcy.

PPSR: a critical tool for the hiring and rental industry

In Australia, the hiring and rental industry, by its nature, requires a higher degree of asset and cash flow security. On the provision side, this is due to revenue streams depending not only on transactional volume, but also the maintenance, care, payment for and return of the individual goods leased or loaned.

Essential steps when conducting director due diligence

In a time of increasing insolvencies and bankruptcies, and rising costs of doing business, an intimate knowledge of the directors of current or future potential trading partners can be of great value to your business.

Managing fraud in the manufacturing industry

The manufacturing industry is one of the most vulnerable sectors when it comes to the risk of fraud and corruption. Horror stories involving inferior product quality, false warranty claims, and stock theft and misuse, among many other unfortunate scenarios, have caused significant fraud-based losses to many manufacturing companies and their livelihoods.

Economic Update - August 2022

This week’s Jobs and Skills Summit is the talk of the business world at the moment. There is strong hope among all sectors of the economy that some real, immediate actions can be taken to help fill some of the 480,000 jobs that are currently available in Australia.

Why real estate businesses need to credit check their trading partners

Real estate industry performance is intrinsically linked to the trading conditions of the housing market. In times of boom, the sales volume for agents increases - driving a swell in available cash flow for all associated businesses.

Using data to predict business default and insolvency risk

It’s a tale as old as time for too many businesses within Australia. You engage with another company, everything runs smoothly for a few months, and then out of nowhere that company collapses – and you’re left struggling to reclaim debt.

Benefits of the PPSR for wholesalers

When managing large businesses and their valuable assets, your dealings need to include a high degree of credit risk management.

Managing ongoing business risk with the PPSR

The trading environment in Australia throughout 2022 has seen some unprecedented challenges. As rates of insolvency have risen across numerous industries, it is more important than ever to ensure appropriate risk mitigation strategies are in place to protect both your business and its assets.

Using Financial Risk Assessments to protect your business from insolvency

When making purchases on behalf of your business, it is imperative that your suppliers and contractors are trustworthy, creditworthy and timely in the delivery of their products.

How hospitality businesses can strengthen credit risk management

The current trading environment for the food and beverage services sector is creating significant downward pressure on cash flow, while amplifying credit risk. This can be attributed to low consumer sentiment, higher inflation levels, supply chain issues, and multiple other factors.

Five reasons to register a payment default

A payment default is a black mark on a credit report, indicating an entity has not paid its debts. Payment defaults are unique to CreditorWatch, providing valuable insights into delinquent payment behaviour.

Managing the problem of bad debt

Bad debt is an expense that a business incurs when a customer is unable to pay an amount owed for goods or services. Any amount lost, written off, or unable to be recovered is essentially considered bad debt.

How to strengthen your customer onboarding procedures

When a business credit application is made, it’s important to dot every i and cross every t before committing to a partnership with the applicant. This should involve a process of thorough due diligence where you research a business’s credit report and make an informed decision around whether they present a risk to your cash flow.

Why conduct a PPSR search?

The Personal Property Securities Register (PPSR) is an official government register of interests in personal property. Operating as an online noticeboard, you can register with PPSR to show that you have rights over personal property which secure a debt or obligation that someone owes you.

Labour Force Update - August 2022

Today’s labour force data continued to underline just how tight the Australian labour force is. At 3.4 per cent, seasonally adjusted unemployment rate is at the lowest it has been since 1974. There are now fewer unemployed people than there are jobs available in Australia.

Going deeper: protecting your business with financial risk assessments

Within the current business trading environment in Australia, cash flow is king. To adequately protect the balance sheet of your business, it is essential that you determine the creditworthiness and payment tendencies of any partner business.

How arts and recreation businesses can protect their interests with company credit checks

Spanning a broad cross section of Australian businesses, from art galleries to theatres, gyms to sport and recreation clubs - the arts and recreation services industry is a fickle beast.

Why you need to be aware of cross-directorships

When you begin trading with a new business, the history of its directors may not be something that you immediately think of as being important. But extending credit to companies that have unscrupulous directors will not only putting your business at risk but can also potentially expose you to criminal activity.

Lodging payment defaults: construction business' secret weapon from insolvency in a high-risk environment

It’s a challenging time for the construction industry, thanks to ongoing labour shortages, and supply chain issues, in tandem with rising inflation levels increasing local business expenses.

What is the PPSR and who is it for?

Since 2020, businesses across all sectors and regions have taken a beating with trading conditions the most challenging they have been in years. With multiple impacts such as rising inflation and interest rates, labour shortages, supply chain disruptions and more, CreditorWatch’s Business Risk Index forecasts business insolvencies to continue rising over the coming months.

Keeping ahead of your competitors with monitoring and alerts

Through the use of monitoring tools, you are able to maintain a smooth and consistent cash flow. This is a core factor that determines the long-term survival of a business more than anything else.

What is the difference between liquidation, voluntary administration and bankruptcy?

The current business trading environment within Australia is facing unprecedented challenges, as seen with fluctuating revenues and higher inflation. With company insolvencies rising, it’s important to understand the difference between liquidation, voluntary administration and bankruptcy.

Business Risk Index July 2022 Industry Insights

After four consecutive months of increases to the cash rate target, and inflation continuing to rise, it is now clear that a slowdown in demand in many industries is inevitable. The retail sector will feel the brunt of the impact of a reduction in discretionary spending.

External administrations surge as cheap money dries up; Court actions up 54% YoY

The July 2022 CreditorWatch Business Risk Index (BRI) has revealed that external administrations and court actions are on the rise as the era of cheap credit comes to an end and businesses with depleted cash reserves and thinning margins confront yet more challenges.

How to avoid trade credit insurance claims

Trade credit insurance provides a business with cover in the event its customers become insolvent or cannot pay their debts.

How wholesale businesses can manage credit risk

In the ups and downs of today’s global economy, wholesalers often bear the brunt of it all when it comes to another supply chain collapse. So, what can you do to make sure your wholesale business steers clear of toppling supply chains and keep your ledger strong?

Meet the Crew - Lewis Forrester, Business Development Manager (VIC)

Find out about Lewis Forrester, CreditorWatch Business Development Manager in our Victorian Corporate team!

Whitepaper: How the manufacturing industry can strengthen the Australian economy

CreditorWatch’s latest industry whitepaper - ‘How the manufacturing industry can strengthen the Australian economy’, presents a comprehensive overview of the current state-of-play and outlook for Australia’s manufacturing industry.

Meet the Crew - Mandy Mill, Head of Operations and Finance and Dan Mawdsley, Head of Product

What do you do at CreditorWatch and why do you love it? Head of Operations – I love it as there is never a dull moment. I am learning each and every day.What does your average workday look like? This is hard to pinpoint as I have a lot of enquiries etc from Sales Staff and the Staff in general. No two days are the same which I love.

RBA raises cash rate by 50 basis points to 1.85 per cent

Anneke Thompson, Chief Economist at CreditorWatch, comments on today’s cash rate decision. This is in response to last week’s increase in annual inflation seeing it at its highest level since the introduction of the GST in 2001.

An overview of business credit risk indicators

When performing customer due diligence, what are the red flags to look out for? It is likely that five to 15 per cent of your ledger has adverse information you’re unaware about. To mitigate credit risk, it is important to be able to identify risk indicators which highlight entities in financial distress.

Cross directorships: What to look out for

When performing a business credit check, it is important to understand the concept of cross directorships. This is where some directors you work with may own or have previously owned multiple companies, and potentially increasing their credit risk.

Not all business credit checks are equal

News Hub Home News Podcasts Webinars Business Risk Index 244 mins read Group With a multitude of credit reporting bureaus in the market providing business credit checks, understanding that…

What is a business credit file?

The financial reputation of a business is one of the most fundamental indicators of its reliability to meet payment obligations, and this is showcased in a business credit file. Before you look to engage with a new customer, or a business partnership, it’s crucial that you do your due diligence and perform a credit check.

Reducing credit risk with data management

In a world where the trading environment is increasingly uncertain and information comes at us at an overwhelming rate, having accurate, reliable, and up-to-date business data can make all the difference in how well your business is protected.

How construction businesses can avoid late payments

It’s been a volatile few years for the construction industry, with rising inflation, global supply chain disruptions, labour shortages and fixed price contracts putting increased pressure on clients and businesses alike. However, there are options available for companies to avoid late payments, and potentially get paid faster.

Managing business credit risk in the financial services industry

As we have commenced Financial Year 2023, the rates of insolvency within the financial services industry have risen, illustrating the critical challenges these businesses continue to face. Managing credit risk is essential to maintain the flow of revenue from trusted trading partners, and avoid the prospect of default.

Why is a business credit history so important?

Looking at the past can help you determine trends of the future – but sometimes the past can come back to bite you. A company’s credit history can make or break its ability to secure credit and conduct business.

What is a good business credit score?

When you first start out, it can be a daunting task to try and pick out which customers have the best chance of working well with your business. Luckily, there’s a simple way to land your goal of building a base of reliable customers – check their credit scores!

Releasing ‘trapped’ cash - How to optimise your working capital strategy to grow your business

When the COVID-19 pandemic began to reshape business operations globally, the preliminary response of CEOs, CFOs, and treasurers was all about survival of their business: free up cash, liquidity, and resources to keep their business operations afloat.

How credit reports can help logistics businesses

High pressure. High prices. High demand. With millions of orders being placed each day, there’s no denying that the pandemic and a need for contactless and immediate deliveries has boosted the demand for logistics services in Australia.

Meet the Crew - Damon Earp, VIC BDM

What made you want to join CreditorWatch? I joined due to the power of the product and the rapid growth of the company in a short period of time.

Inflation to bite across H2 2022

Not surprisingly, inflation rose by 6.1 per cent over the year to June 2022. This was up from 5.1 per cent over the year to March. The high inflation rate was heavily impacted by supply side factors (war in Ukraine, supply chain bottlenecks and adverse weather events) as well as very strong demand in the housing construction sector.

Are these four procurement issues slowing down your business?

Keeping your procurement operations running smoothly is challenging, no matter what stage of business you are in. Both new and established businesses can face an uphill battle in balancing their spending whilst still delivering revenue and profit gains.

Top tips for manufacturers on managing credit risk

Tired of tricky customers and suppliers damaging the financial position of your manufacturing business? Follow these credit risk-reducing tips to stay one step ahead.

Why you should monitor your customers

The current economic climate is awash with change and uncertainty. These unstable trading conditions have highlighted the necessity for businesses, particularly small and medium enterprises (SMEs), to become more aware of who they are working with.

How construction companies can mitigate credit risk

It takes a multitude of people to work end-to-end on a construction project. If you own or run a construction company of any kind, your employees or contractors need to be paid and you need to be paid by the client to pay these contractors.

How to mitigate credit risk

A little bit of risk is par for the course in the business world, but what happens when landing a new customer ends up costing more than you can gamble?

How manufacturers can use credit reports to avoid risk

Manufacturers are faced with challenges daily; from maximising automation to keeping on top of supply and demand. The need for an instant credit report has never been more critical for manufacturers.

Five reasons to check the business credit score of all your customers

The relationship we have with risk is a fascinating one; how we calculate it and how we respond to it when it presents itself can tell us a lot about our own psychology.

How to reduce your exposure to bankrupt customers

A court order has taken place and you find an official notice from AFSA (the Australian Financial Security Authority) that one of your customers is now bankrupt. But what does this mean for the money they still owe you?

How to check a business's credit score

Checking the credit of your customers and clients is a crucial part of running any business. Whether you're providing services, products, or financing, you need a way to ensure that you can trust your customers to make good on what they owe you.

Meet the Crew: Srijana Maharjan, Back-End Developer

Welcome Srijana who joined the engineering team as a back-end developer. What do you do at CreditorWatch? I’m a backend developer in engineering department.

Why you should monitor your customers' payment behaviour

The current trading environment for Australian business is presenting unique and unforeseen challenges to both ownership and their management teams. In light of this, diligent credit assessment of customers is as necessary as ever before.

Managing uncertainty with 24/7 monitoring and real-time alerts

By neglecting customer due diligence, businesses are exposed to unnecessary risks, such as unpaid invoices and bad debt, which could have potentially disastrous consequences.

Watch out for these 10 red flags of financial distress

When performing customer due diligence, what are the red flags to look out for? To mitigate credit risk, it is important to be able to identify risk indicators that highlight entities in financial distress.

Meet the Crew: Alex Crawford - Senior Sales Analyst

What’s the biggest career lesson you’ve learnt so far? People won’t always remember what you say, but they’ll remember how you made them feel.

Business confidence at a turning point; data points to softer than expected second half of 2022

CreditorWatch Business Risk Index (BRI) has revealed that business confidence is teetering, with key indicators such as trade receivables and credit enquiries down, while trade payment defaults continue to register at pre-COVID levels.

Why wholesalers need to credit check their customers

Many large Australian retailers have been forced to shut their doors over the past two years. These devastating flow-on effects have been felt by all stakeholders in the supply chain. For wholesalers, who are often operating on narrowing margins to begin with, the volatility of the market since March 2020 has driven home the need to be aware of the credit history of each customer.

Meet the Crew: Sean Tully, Legal Counsel/Joint Company Secretary

Welcome to Sean Tully who is the new legal counsel/joint company secretary at CreditorWatch. What do you do at CreditorWatch? I’m the new Legal Counsel at CreditorWatch.

Credit risk challenges for fintechs

Fintech, short for ‘Financial Technology,’ was only added to the Merriam-Webster dictionary in 2018. In that short amount of time fintech has streamlined and simplified common financial processes, spreading to countless industries and all corners of the globe.

RBA raises official cash rate to 1.35%

The Reserve Bank of Australia (RBA) has once again increased the cash rate by 50 basis points to 1.35% in an effort to reign in inflation before a ‘spiral’ sets in.

Five Benefits of 24/7 Monitoring and Real-Time Alerts

In the current economy, filled with uncertainties, businesses are being forced to rapidly change and become more adaptable. And many are not able to manage the transition. CreditorWatch’s Business Risk Index data forecasts insolvencies to steadily rise across the remainder of 2022.

CreditorWatch awarded ISO certification for gold-standard information security management

CreditorWatch has been awarded the ISO 27001 and 27017 certifications, for information security management and cloud security controls respectively. These globally recognised accreditations prove that CreditorWatch has achieved the highest standards of information security management.

Meet the Crew: Brendan Sherry - Senior BDM

Welcome (back) to Brendan Sherry! Original Melbournite, Brendan will be coming over to the Sydney office to fill the role of Senior BDM.

How manufacturing businesses can prevent bad debt

For the vast majority of business owners, debt collection is not something you want to spend too much time dealing with. Whether you’re in it, chasing it, or just trying to stay one step ahead of it, you probably feel that the hours grappling with outstanding payments could be better spent working on your business.

How to protect your small business from fraud

The pandemic, alongside the rise in technology advancements, has forced SMEs to change the way they operate. This can be anything from altering their business models and plans to keeping up with ever-changing customer trends. The last thing an SME needs is added fraudulent behaviour from trading partners, customers and even employees.

How logistics companies can speed up debt collection

Extending credit always comes with risk. Nowhere is this truer than in the logistics industry, where the process is complicated due to the many moving parts and different stakeholders that make up a supply chain. You can't always avoid payment defaults, but with the right tools and strategies, you can minimise risk and speed up the debt collection process.

ABS Business Conditions and Sentiments

“The ABS has released their final Business Conditions and Sentiments survey. The survey results give us some indication of upcoming inflation and economic conditions.

Meet the Crew: Michael Wang - Data Science Manager

What made you want to join CreditorWatch? The vibrant culture and the opportunity to be part of CreditorWatch’s growth journey.

Debt collection challenges faced by the construction industry

Struggling to get paid as a construction worker? You’re not alone – thousands of people within the industry are experiencing the same thing.

‘Perfect economic storm’ means the end is nigh for struggling Aussie businesses

CreditorWatch has released its Industry Synopsis for June. Industry data, coupled with stats from its Business Risk Index (BRI)*, point to an increased probability of default for a number of industries, as the threat of rising interest rates finally eventuates.

Meet the Crew: Sean Deng - Front End Developer

Welcome to Sean who has joined our development team as a front end developer. What do you do at CreditorWatch?

What Causes Bad Debt?

Bad debt happens when your customers are unable to reciprocate or repay an amount owed in the set amount of time. Any amount, or receivable, that is lost, written off and unable to be recovered is essentially bad debt.

Wage Price Index and Westpac Consumer Sentiment

“The Fair Work Commission (FWC) today announced a wage increase of 5.2 per cent for minimum wage earners.

EOFY Survival Guide 2022

It’s EOFY 2022 and economic uncertainties are looming around every corner. Australia is experiencing inflation, rising interest rates, rising default rates, labour shortages, negative real wage growth and high fuel prices. The business landscape is characterised by increasing risks. Company insolvencies will continue to rise in 2022 and the road to recovery will be an uneven one.

Understanding Bankruptcy

Trading with a company that is bankrupt or has been involved in bankruptcy is risky business. Ensuring you have all the information possible to safeguard your own financial health is vital.

Simplifying the Debt Collection Process

Running a business takes copious amounts of time and the last thing you want to be doing is chasing up debtors. Even with a proper credit check and credit score, debtors can sometimes slip through the cracks.

RBA increases cash rate to 0.85 per cent

Today’s increase in the cash rate from 0.35 per cent to 0.85 per cent reflects the Reserve Bank of Australia’s (RBA’s) increasing concern around price escalations across the economy. Senior executives among the grocery, construction and logistics sector have recently been advising their customers to continue to expect prices to rise, as many products have not yet fully repriced.

Director ID: Tips to help your director clients get their ID online

Australian Business Registry Services (ABRS) is providing the following guidance to agents and intermediaries to assist them in supporting their director clients to apply for their director identification number (director ID).

Podcast: What makes a great place to work?

CreditorWatch CEO Patrick Coghlan and General Manager of People and Culture, Fiona Crawford, share their insights into what makes a great place to work and the importance of authentic and transparent leadership, employee empowerment, inclusion and non-work related personal growth initiatives.

Meet the Crew: Justin Meyers - Head of Commercial Sales

Justin is CreditorWatch’s new Head of Commercial Sales, ensuring that customers and prospective customers unlock the value of CreditorWatch’s data and technology.

Meet the Crew: Isabelle Holland - QLD BDM

I am a BDM in Brisbane. I really enjoy my work because it is based around building relationships. It’s a great feeling when you get someone on board to your service/ product when it’s something that you truly believe in.

How is a credit score calculated?

Whether you’re the owner of a small, medium or large business, a credit score is a vital source of information to help avoid bad debt. A credit score helps lenders understand and assess the creditworthiness and credit risk of potential and existing debtors.

New anti-phoenixing laws enforced in court – more power for liquidators

Anti-phoenix laws were introduced in 2020, however, it wasn’t until early May that a judgment enforced these laws in Court, setting out clear precedent for future cases. In the case of Intellicomms Pty Ltd (in Liquidation) (Intellicomms) & Ors v Technologie Fluenti Pty Ltd (Technologie Fluenti), Associate Justice Gardiner observed that the case had “all the classic hallmarks of a phoenix transaction” before handing down his decision.

Meet the Crew: Hana Le - Accounts Receivable Officer

Hana is CreditorWatch’s new Accounts Receivable Officer, ensuring that all our incoming payments are properly accounted for and we all get paid!

Using the Personal Property Securities Register (PPSR) to protect your small business

In Australia, small businesses account for almost 98 per cent of all businesses, contribute to 35 per cent of our GDP, and employ 44 per cent of our workforce. However, more than 60 per cent of small businesses fail within the first three years.

How to manage credit risk in the construction industry

Construction is Australia’s third largest industry, accounting for nine per cent of our total GDP. With $360 billion in revenue generated annually, investors rightly view building and construction as a source of highly lucrative opportunities.

Unemployment steady at 3.9% but no signs of wages growth

The unemployment rate for April 2022 remained steady with the revised March 2022 rate of 3.9 per cent. There appears to be very little slack remaining in the employment market, with employed people only increasing by 4,000 people (0.03 per cent) despite a record number of jobs being available.

Podcast: Dire Warnings for the Australian Construction Industry

Like the rest of the Australian economy, the construction industry was getting back on its feet after the worst of the pandemic. But the sector has now been hit by a perfect storm of supply chain disruptions, cost blowouts and staff shortages as inflation and interest rates rise.

How sole traders can use data to power their businesses

Sole traders make up more than 60 per cent of Australian businesses. It is the simplest and cheapest business structure, with low start-up costs, no registration or annual fees and fewer reporting requirements.

A guide to using property and land title reports

In this uncertain trading environment, businesses looking to improve their due diligence and assess the creditworthiness of customers need to thoroughly investigate the assets owned by an individual or company. In this article, we explain the information that creditors can obtain from a land title search, property valuation report, common property, and national property ownership search.

How automation has enhanced credit risk management

To keep up with rapid innovation and emerging disruption, customers and investors alike are now expecting digitalisation of all key aspects of business operations. With increasing demand for analytical and technical capabilities, credit teams need to embrace digital transformation of credit decisioning to remain competitive, save time and money and improve accuracy.

Podcast: Business Risk Index - April 2022 Insights

In our latest episode, we present the January Business Risk Index results and analysis. CreditorWatch CEO Patrick Coghlan and Chief Economist Anneke Thompson discuss the key insights.

BRI April 2022 - Industry Insights

In April we continue to see the impact of inflationary pressures in our Business Risk Index (BRI) data. Those industries that are price setters – i.e., that can adjust their prices quickly to offset their increasing costs – remain the lowest risk sectors. That is, healthcare and social assistance, agriculture, forestry and fishing and manufacturing.

Economy at turning point as positive trends continue; Grim outlook for flood-affected regions

The April 2022 CreditorWatch Business Risk Index (BRI) shows the Australian economy may have reached a turning point, with trade payment defaults and credit enquiries continuing to trend upwards for the quarter.

The 3 Ps of preparation for small businesses: Part 3 – Protections

Our latest episode of Business Insights is the third in a three-part series on how SMEs can best prepare themselves for uncertainty using the 3 Ps of preparation: processes, policies and procedures, and protection.

Meet the Crew - Ealise Wang and Siwei Mu

What do you do at CreditorWatch and why do you love it? I love the company because I really and truly think they look after me, and support my work style. There is no micromanagement and the peers are super supportive

RBA raises rates for first time in 12 years to 0.35%

In response to the highest recorded inflation rate since the introduction of the GST in 2001, the Reserve Bank of Australia (RBA) has chosen to increase the cash rate to 0.35%, prior to receiving data on wage increases.

Inflation - the dark and stormy cloud

Writing in the latest edition of AICM (Australian Institute of Credit Management) magazine, Credit Management in Australia, CreditorWatch Chief Economist Anneke Thompson discusses the risks of rising inflation to the Australian small business community, particularly sectors that are exposed to discretionary spending such as food and beverage services.

Understanding Business Credit Reports

If you’re a business owner who extends credit to other businesses, you probably know exactly what a business credit report is.

Podcast: The 3 Ps of preparation for small businesses: Part 2 - Policies and Procedures

Our latest episode of Business Insights is the second in a three-part series on how SMEs can best prepare themselves for uncertainty using the 3 Ps of preparation: processes, policies…

CreditorWatch makes 2022 AFR BOSS Best Places to Work list

CreditorWatch is extremely proud to announce that it has made the 2022 AFR BOSS Best Places to Work list in seventh place in the Banking, Superannuation and Financial Services category.

CreditorWatch now collecting ATO tax debt default data

The ATO is Australia’s largest creditor responsible for the largest number of company windups in 2019. Historically, businesses would take on debtors with undisclosed tax debts and be caught off guard when the first mention on financial instability appearing when the ATO began wind up procedures.

The 3 Ps of preparation for small businesses: Part 1 - Processes

In this challenging economic climate, it is more crucial than ever that businesses are well prepared for whatever impacts come their way. Our latest episode of Business Insights is the first in a three-part series on how SMEs can best prepare themselves for uncertainty using the 3 Ps of preparation: processes, policies and procedures, and protection.

How lenders can enhance their credit decisioning with CreditorWatch data

As we emerge from the pandemic, many businesses are struggling with cash flow and seeking credit to get going again. Those who are unable to meet the strict lending criteria of major lenders such as banks are increasingly turning to second tier lenders.

Podcast: Business Risk Index - March 2022 Insights

In our latest episode, we present the January Business Risk Index results and analysis. CreditorWatch CEO Patrick Coghlan and index creator James O’Donnell from Open Analytics discuss the key insights.

Industry Synopsis CreditorWatch's March 2022 Business Risk Index

Reflecting their rising risk profiles due to Australia’s higher inflationary environment, the Food and Beverage Services, Arts and Recreation Services and Transport, Postal and Warehousing Industries all recorded an increase in their probability of default.

Trade activity rises but inflation and rate rises to drag; Hospitality default risk surges

The March 2022 CreditorWatch Business Risk Index (BRI) has revealed that Australian business activity may be finally showing some green shoots around recovery, with B2B trade activity increasing for a second month in a row – now up 55 per cent on its January low (but still down 35 percent year-on-year). This was backed up by positive data on credit enquiries, which were up 45 per cent over the last quarter.

How to improve the quality of your ledger with DebtorLogic

In this episode of Business Insights, we take you through how to improve the strength of your ledger, with CreditorWatch’s Trade Consultant for DebtorLogic, Lucinda Judd. In these times of uncertainty for businesses, ensuring that your customers are reliable and able to pay on time is critically important for your cash flow.

Economic Snapshot Update

Anneke Thompson, Chief Economist at CreditorWatch, comments on The Reserve Bank of Australia’s (RBA) penultimate cash rate decision before the Federal Election which has determined the Official Cash Rate (OCR) should remain unchanged for at least one more month.

Why searching the PPSR is important for business

The Personal Property Securities Register (PPSR) is an official government register of interests in personal property (items such as motor vehicles, goods sold on credit terms and other financial property).

Meet the Crew - Ellie Kiumarsian

I am a web developer. I love the amazing culture of the company. CreditorWatch really cares about their people, and everyone is looks after one-another. CreditorWatch looks out for their people and gives their employees a 'Wellness Day' which is one day off each month. I think this definitely helps people wind down and have a break from working.

Meet the Crew - Adam Bailey

I’m the new face in Brisbane as an Enterprise Account Director, having just started the journey so far it has been awesome and refreshing with everyone being so welcoming.

Federal Budget: innovation agenda will drive future spending

Following Australia’s 2022 Federal Budget announcement last night, please find comments below from CreditorWatch CEO, Patrick Coghlan, on the impact this will have on Australian businesses and the wider economy.

Podcast: How to secure your assets on the Personal Property Securities Register (PPSR)

The Personal Property Securities Register (PPSR) is an essential facility for all businesses leasing or selling goods or services on credit. But it is also widely misunderstood by small business owners. In this episode of Business Insights, Paul Mead, PPSR Sales Specialist (NSW) and Jason Sutherlin, PPSR Sales Specialist (Victoria) discuss the essential elements to consider when registering assets on the PPSR.

Everything you need to know about the new mandatory Director IDs

Director identification numbers (Director IDs) will be a mandatory requirement for new (first-time) directors from 5 April 2022. The Director IDs have been introduced to help prevent the creation of false Director identities and mitigate adverse cross directorships and illegal phoenixing activity.

Podcast: The Grasshopper effect: What is supplier hopping and how can you avoid it?

In the latest episode of Business Insights we speak to CreditorWatch's Victorian Sales Manager Hilbert Klaster about the practice of supplier hopping - the practice of moving from one supplier to another, leaving a trail of unpaid debts - why it is on the rise and how businesses can avoid being caught up in it.

How to protect your cash flow and get paid faster

You’ve done the work and you’ve sent the invoice. Now you wait. Every business owner knows the challenge of getting debtors to pay on time. But is there more you can do to get paid faster when businesses stall?

Podcast: Outlook 2022 - Australia's 'phantom' lockdown threatens sustained economic recovery

The Australian economy is rife with uncertainty due largely to the ongoing impacts of the COVID-19 pandemic and its multiple variants, such as supply chain disruptions and labour shortages.

Going deep on customer due diligence with Infotrack searches

CreditorWatch’s integration with the award-winning InfoTrack search portal gives our customers access to several additional searches and services. InfoTrack is the leading legal tech innovator in Australia, offering more than 4,500 different products. Our seamless integration lets you quickly and easily access all of InfoTrack’s services and resources within your CreditorWatch account.

CASE STUDY: Probuild collapse - avoiding failures like this is possible

The Foreign Investment Review Board (FIRB) has been criticised in several quarters for helping to trigger last month’s collapse of Probuild through its refusal to approve a $300 million takeover of the company by state-owned China State Construction Engineering Corp on national security grounds.

Industry Synopsis for CreditorWatch’s February 2022 Business Risk Index

It has been a rocky start to 2022 for the Australian economy due to the impacts of Omicron, the war in Ukraine and now the floods that have been devastating northern New South Wales and southern Queensland. The latest CreditorWatch Business Risk Index, covering February 2022, highlights the good and the bad of a difficult start to the year for Small and Medium-sized Enterprises (SMEs).

Trade activity up for now but flood impact looming; Construction sector confronts deep issues

he February 2022 CreditorWatch Business Risk Index (BRI) reveals that the Australian economy is still in a holding pattern as it emerges from the impacts of the Omicron variant.

What can subcontractors do if a builder enters voluntary administration?

Construction giant, Probuild, recently entered voluntary administration, leaving more than 750 jobs at risk and around 2,300 creditors chasing payment.

Meet the Crew - Matthew McMaster

What do you do at CreditorWatch? I’ve come onboard as the GM of Customer Experience, where I’ll have the opportunity to positively impact each step of our customer journeys.

Meet the Crew - Robert Lettieri

I work as a Senior UI/UX Product Designer at CreditorWatch. Working as a designer, I not only help improve products usability but also design the company brand from all touch points.

Probuild collapse; involvement in tragedies like this can be avoided

Explore the warning signs that led to the Australian construction industry giant Probuild's collapse, its impact on subcontractors, major projects, and the broader construction sector.

The RBA won’t budge in the current environment

The Reserve Bank of Australia (RBA) confronts some key uncertainties in the final month of the March 2022 quarter. Against this backdrop, it’s no surprise that the RBA Board determined not to raise the Official Cash Rate (OCR) in March.

Economic Update - January 2022 Retail Sales

As the economic environment, post Omicron, stalled recovery momentum continues, the situation has become yet more volatile. The latest update from the Australian Bureau of Statistics (ABS) for Retail Sales (January 2022) reinforces this point.

An Introduction to Financial Risk Assessments

A Financial Risk Assessment provides a comprehensive look into the financial viability of your customers, suppliers and contractors.

Economic Update - Quarterly Wage Price Index

“With the Reserve Bank of Australia (RBA) making it crystal clear that it won’t raise official interest rates until signs of sustainable wage inflation emerge, the quarterly Wage Price Index (WPI) is perhaps the most important economic metric of 2022.

How credit scores help businesses manage the impacts of Omicron

The flow-on impacts from the spread of the Omicron variant have brought many small businesses to their knees. Supply chain disruptions, skills shortages and rising costs hit SMEs when they were just beginning to recover from the initial outbreak of COVID-19.

Harley's Economic Update

The latest Australian Bureau of Statistics (ABS) stats on Australia’s Labour Force for January 2022 has revealed: The unemployment rate remained steady at 4.2%.The number of people employed increased by 12,900 to 13,255,000.The underemployment rate increased to 6.7%.Monthly hours worked decreased by 159 million hours.

Seven reasons why small businesses should use accounting software

How is your business managing its finances? If you’re still using folders and spreadsheets, it’s time to revamp your approach.An accounting software package streamlines all your accounting processes, making it easier to stay on top of your finances.

Harley's Economic Snapshot - February

Well, we are a little bit in ‘no-man’s land’ – over the worst of the adverse impacts of Omicron, but with a tragic loss of life, large political management errors and a long tail to the variant. This all contributes to the greatest fear for SMEs – uncertainty. However, there is still a touch of optimism creeping in as Australia (along with the rest of the world) adjusts to dealing with pandemic to endemic business conditions.

Industry Synopsis for CreditorWatch’s January 2022 Business Risk Index

The latest CreditorWatch Business Risk Index captures circumstances for January 2022, a month when Omicron bit the economy hard and smashed the optimistic expectations of thousands of Small and Medium-sized Enterprises (SMEs).

Insolvencies to rise across 2022; Trade receivables down 45% on same qtr last year; court actions jump 58%

The January 2022 CreditorWatch Business Risk Index (BRI) has revealed that the Australian economy has some way to go before it shakes off the impacts of the COVID-19 pandemic.

How to take your credit checks to the next level

Signing any agreement before you have all the information is risky business. As a business owner, it’s in your interest to exercise due diligence to ensure you know who you’re getting into business with.

Why you should register payment defaults in 2022

As the Australian economy continues to suffer the effects of the Omicron variant, business activity remains soft as consumers sit on cash while in self-imposed lockdown and many companies struggle with staff shortages and supply chain disruptions.

Economic Update with Harley Dale

“It comes as no surprise that the RBA Board has made the decision to keep the OCR steady at its record low – a rate that has remained unchanged since November 2020. Conjecture regarding a rate rise will intensify as we move throughout the year but right now, nothing is going to happen to official interest rates.

Preparing your business for the challenges of Omicron

As the Omicron variant sweeps across Australia, the initial relief that came with opening up after the lockdowns has quickly dissipated.

How can you know which companies to do business with?

One of the biggest challenges for business owners is being able to tell which companies and providers you can reliably trade with, and which you should avoid. No vendor will tell you this on their own, and many will have reasons to indicate the opposite. So, what gives?

Economic Update - Harley Dale

Today’s 1.3% lift in the CPI for the quarter (up 3.5% for the 12 months to the December quarter) shows a substantial rise compared to the September 2021 quarter. This will likely accelerate the upward movement in household and business market interest rates irrespective of when the RBA moves itself to lift the official cash rate.

The master of predictive data models

For anyone working in financial services, more predictive algorithm credit-risk models mean more informed decision making and therefore fewer losses. So how can data specialists working in fintech enhance the predictability of their models? James O’Donnell, Managing Director of Open Analytics Hand creator of the CreditorWatch Business Risk Index, provides some insights.

Meet the Crew - Andrew Thomson

What do you do at CreditorWatch and why do you love it? I have taken on the role of API Sales Specialist. I love this role because it’s great to see how efficient and streamlined businesses can be, using our API functions.

Meet the Crew - Natalie Ip

Meet Natalie Ip - People and Culture Officer, SYD. .What do you do at CreditorWatch and why do you love it? I’m a new addition to the P&C team and I am loving my first week so far because everyone has been so welcoming so far! I’m excited for the projects we have coming up in the P&C space and can’t wait to get into it!

Economic Snapshot on Labour Force

CreditorWatch’s Chief Economist, Harley Dale, comments on today’s ABS Labour Force data. December’s results saw Australia’s unemployment rate fall to 4.2 per cent in December 2021 from 4.6 per cent a month earlier. This was the lowest reading since August 2008 as COVID-19 lockdowns were lifted.

Industry Synopsis for CreditorWatch’s December 2021 Business Risk Index

December 2021 started with such promise for the entire Australian population. Lockdown restrictions were easing or ending, people were getting out and about more and anecdotal evidence was pointing to a strong Christmas period. Then Omicron hit hard and swiftly.

CreditorWatch data: Santa went missing! But Newcastle and Perth best improving cities

Santa went missing! The December 2022 CreditorWatch Business Risk Index (BRI) has revealed that Australia’s trading activity was at its lowest point since the pandemic began due to the impacts of the Omicron variant.

Why Omicron has increased your need for automated customer onboarding

Traditional credit checks and their shortcomings are giving way to a new era of efficient, rapid and user-friendly approaches to checking business’ credit histories and customer onboarding.

Retail Sales have a bounce in their step, but for how long?

Harley Dale, CreditorWatch Chief Economist, comments on today’s ABS Retail Trade stats which saw retail sales jump 7.3 per cent in November 2021, reflecting a record value of sales in Australian history.

Big machines, big challenges: wrangling the risks of the mining, agriculture, and construction industries

The pandemic and climate change have impacted us all in different ways with multiple flow-on effects. Some have endured far tougher times than others but one thing we all have in common is that we’ve had to quickly adapt to these unfolding global events.

How to cleanse your data to reduce credit risk this holiday season

As Australia comes out of COVID pandemic and lockdown restrictions are reduced, uncertainty around trading activity remains. During the holiday period it is vital to stay on top of your customer data.

Talking Tech: How to build a Business Risk Index, Part 4

In this four-part series, CreditorWatch Software Architect Developer, Juanjo Lainez Reche, takes you through the decision-making and development of the Business Risk Index – one of the most complex and ambitious projects ever undertaken by the company.

What are zombie companies and how do you identify them?

The term ‘zombie company’ is used to refer to any business that is so debt laden that it is only able to pay the interest on its loans.

Mid-Year Economic and Fiscal Outlook (MYEFO) 2021-22

The Mid-year Economic and Financial Outlook (MYEFO) presents a predictably optimistic update for the year ahead for Australia. This time last year bookings for cruise holidays in 2021 were soaring because of the belief that the worst of COVID-19 was behind us

Talking Tech: How to build a Business Risk Index, Part 3

In this four-part series, CreditorWatch Software Architect Developer, Juanjo Lainez Reche, takes you through the development of the Business Risk Index – one of the most complex and ambitious projects ever undertaken by the company.

The latest NAB business results aren’t that bad

CreditorWatch’s chief economist, Harley Dale, comments on today’s NAB Business Confidence Index. November’s results saw a significant drop to a level of 12, from a downwardly revised 20 in October 2021:The latest NAB business results aren’t that bad

Meet the Crew - Mandy Mill

What do you do at CreditorWatch and why do you love it? I am Head of Operations & Finance – I love my job as no two days are the same working with the Sales Team and wider business definitely keep me on my toes.

The dynamics of the Australian economy are rapidly changing

As lockdown restrictions are eased in key states, Australia faces the prospect of a strong economic bounce-back in the December 2021 and March 2022 quarters.

CreditorWatch data: Recovery to take longer than expected; Perth and Brisbane bouncing back quickest

The November 2021 CreditorWatch Business Risk Index (BRI) has revealed that business activity around Australia is currently weaker than expected, indicating that the return to pre-COVID levels is now likely to take longer than many pundits had anticipated.

Industry Synopsis for CreditorWatch's November 2021 Business Risk Index

The latest CreditorWatch Business Risk Index covers November, the first month since May where Australia has been relatively lockdown free.

Food wholesalers hit by supply chain disruptions and risk from hospitality businesses

Food wholesalers across Australia are confronting international supply chain disruptions and price rises just as business picks up following the extended lockdowns in Melbourne and Sydney that obliterated profits over the past 18 months.

How data can help you make better decisions and reduce credit risk

In the digital age, data has become a key driver of growth, with insights guiding businesses to success. The financial services sector is heavily reliant on data, with banks, insurance companies and any organisations who deal in risk seeking to bolster their modelling and reduce defaults.

Omicron compounds the Great Supply Chain disruption

CreditorWatch, the Australian digital credit reporting agency, has laid out how Australian SMEs can navigate the great supply chain disruption and associated risks as the Omicron variant overshadows confidence in the economy’s reopening, during a data-rich panel discussion with leading supply chain fintech Earlytrade earlier today.

Meet the Crew - George Wolf

1. What do you do at CreditorWatch and why do you love it?I’m the QLD sales manager and I have the privilege of working with a talented and ambitious team of BDMs and Account Managers based out of the BNE office

Navigating The Great Supply Chain Disruption - Risks for Australian business leaders

Events that have caused global supply chains to be pushed to the brink have been well documented by media and commentators. Worldwide timber shortages, fuel and energy scarcity in the UK and China, major issues with semiconductor supplies and of course here in Australia we had the run on toilet paper.

Tips and Tricks for streamlining the business credit application process

Credit applications are a critical part of onboarding new customers. Put simply, a credit application is an essential contract that allows you to do business with a new customer.

What are personal guarantees and why are they important for your business?

A personal guarantee is a promise made by a guarantor that they will personally meet the obligations of another person or company if that person or company defaults to the creditor under the original, or primary, agreement.

Start Your Business on the Right Foot: Good Credit Practices for New and Nano Businesses

If there was ever a time to start your own small or nano business, it’s now. Australian Bureau of Statistics’ figures show there has been a 3.8 per cent rise in the number of businesses formed in the year to 30 June 2021.

Talking Tech: How to build a Business Risk Index, Part 2

In this four-part series of articles, we take you through the development of the Business Risk Index – one of the most complex projects ever undertaken at CreditorWatch.In my first article I outlined how we built the master datasets and our online transaction processing platform (OLTP), which fuels our data analysis and most of the CreditorWatch’s website and platform.

CreditorWatch data: Regional Victorian businesses poised for strong recovery while Melbourne metro continues to struggle

The October 2021 CreditorWatch Business Risk Index (BRI) has revealed a tale of two regions for the Victorian economy. Three of the top five regions around Australia with the lowest risk of default are in regional Victoria. This is a stunning result given much of the state has been in lockdown over the previous two years.

Lockdown no impediment to business performance in regional Victoria, however, Melbourne metro continues to struggle

Regional Victoria leads the country with the best performing businesses according the October CreditorWatch Business Risk Index (BRI). The results revealed that the state now boasts three of the top five performing business regions around Australia for risk of default; a stunning result given much of the state has been in lockdown over the previous two years.

Gain confidence to resume trading as restrictions ease across Australia

Restrictions are easing across states and businesses are reopening across Australia. As trading resumes under new and evolving conditions, most small and large business owners are eager but also hesitant, remaining cautious that things could change very quickly.

Harley's Economic Update - November Edition

There are sectors like Retail, together with Accomodation and Food Services who will thrive in the late 2021 and 2022 economic enviroment. Many businesses have clung on through nearly two years now of restrained trading conditions. Many haven’t survived and many who have show ‘staff wanted’ signs in the window as skills shortages bite. Post lockdown certainly isn’t without its challenges.

Economic Update RBA keeps interest rates on hold

We have seen tentative signs of re-emerging inflationary pressures, albeit heavily influenced at this stage by COVID-related pressures. Bond yields are rising, and the Aussie dollar has recovered some ground.

Understanding the mandatory vaccination directions for Victorian workers

Macpherson Kelley has published details about the Victorian Government’s announcement for mandatory vaccination for all workers on the authorised worker list.

Meet the Crew - Mitchy Koper

I joined CreditorWatch to work with Patrick and the executive team on a strategy to take the business to a whole new level by bringing my love of all things communications and marketing to life.

Meet the Crew - Peter Krilic

What is your role/position at CreditorWatch? Working in the Internal Sales team as a Customer Success Consultant.

Construction booming but challenges abound for the industry

The construction industry has experienced particularly dire conditions since the pandemic took hold in Australia in May 2020 that now continue even as the economy clicks into recovery mode. As NSW and Victoria begin to re-open after months of lockdown, the industry is experiencing a surge in demand for materials but that has coincided with serious supply chain issues.

Your business might be COVID-safe, but is it credit safe?

As vaccination numbers grow and lockdown restrictions are gradually reduced, businesses are emerging from hibernation to a society that is eager to return to a ‘new normal’.

CreditorWatch announces formation of Board of Directors

Australia’s leading digital commercial credit reporting bureau, CreditorWatch, is pleased to announce the formation of its Board, made up of two existing ATI Group board members and two independent non-executive directors, in addition to CEO Patrick Coghlan. This is an important step in the ongoing development and growth of the technology business.

How billions of datapoints became a Business Risk Index

Last week CreditorWatch launched a highly valuable, Australian-first economic indicator—the Business Risk Index. Each month the index reveals which regions in Australia are at the highest and lowest risk of insolvency in the future – critical information for businesses and government as we continue to navigate through the downturn from the coronavirus pandemic toward economic recovery.

CreditorWatch launches Australian-first Business Risk Index

The Business Risk Index (BRI) is a ground-breaking new economic indicator that provides unique insights into the health of Australian businesses by region. It draws on a wide range of data points to produce a dynamic measure of future insolvency risk for more than 300 regions across Australia.

The CreditorWatch Business Risk Index: Australia's most incisive leading indicator of business risk

Leading digital commercial credit reporting bureau CreditorWatch is today releasing the results of its inaugural monthly Business Risk Index, a groundbreaking predictive economic indicator to help guide businesses when making future growth plans and inform public policy.

Seven warning signs in a credit report you might not know about

CreditorWatch’s credit reports contain unique data and insights to help business of all sizes better manager their credit risk and credit score. To help you leverage all the information in our reports, here are seven warning signs you might not know about.

Whitepaper: The Future of Fintechs - fintechs driving change in financial services

The future of fintechs is a hot topic and one of the most important trends in the financial service sector in Australia and around the globe. Creditorwatch’s Future of Fintechs 2021 thought leadership paper is a comprehensive overview of the state-of-play across Australia’s vibrant fintech sector.

CreditorWatch appoints ex-Olympian as Head of People & Culture

Australian digital credit reporting bureau, CreditorWatch, has today announced the appointment of Fiona Crawford, a two-time medal-winning Olympian and HR Director of the Year finalist, as its General Manager for People and Culture.

How Hackathons Unleash Technical Creativity

Hackathon – a word used and understood in the tech space, however outside of that it conjures up images of rogue computer experts using their wits to break into top-secret networks and steal the data.

The power of CreditorWatch's unique data

At CreditorWatch, our unique data gives our customers a competitive edge. Our exclusive insights enable businesses, specifically small businesses to make smarter and more informed credit decisions and better manage risk, particularly in this COVID-impacted economy.

Business Risk Review - August 2021

After showing signs of resilience in July, the full impact of continuous lockdowns has taken its toll on Australian business activity, with dire outlooks for many businesses specifically in Sydney and Melbourne.

Meet the Crew - Helen Fitzgibbon

What do you do at CreditorWatch and why do you love it?I am the state sales Manager for Victoria. I love doing it because I work with a fabulous team and great variety of customers.

While you Were Sleeping

Many small business owners are not aware that their biggest exposure to credit default may lie with their top five customers. It often comes up in conversation with business owners.

Meet the Crew - Georgia Page

What do you do at CreditorWatch and why do you love it? I’m the Office Manager based in Sydney. I love being organised, creating a productive & helpful space, having a lot of variety in my day and feeling like I’m part of everyone’s teams.

Protect your security interests with PPSRLogic

In this uncertain economic climate in Australia, CreditorWatch’s PPSRLogic tool is helping businesses protect themselves from customers who might be unexpectedly wound up and also from unfair preference claims.

Reinventing the RiskScore

The latest partnership between CreditorWatch and Open Analytics is revolutionising credit risk assessment and automated credit decisioning.

What does the new Payment Times Reporting Scheme mean for your business?

A piece of legislation came into being on the 1st of January this year that will have major ramifications for small businesses in Australia.

Why you should upload your ATB more frequently

As COVID cases grow by the day, nationwide restrictions are increasing, with lockdowns being extended indefinitely.

The catastrophic combination that is strangling Australian businesses

The combination of lockdowns and lack of stimulus from the government is leaving businesses cautious and recoiling from activity, which will have a devastating impact on the Australian economy.

Economic Road Ahead EOFY Survey Results - Media Release

CreditorWatch, Australia’s leading digital credit reporting bureau, has released brand new customer sentiment data on the biggest challenges that Australian businesses faced last financial year, and how they’re feeling as we enter the current financial year.

Nailing it in Lockdown - Emma Berry

Meet Emma Berry, CreditorWatch Business Developer Manager, NSW.

Nailing it in Lockdown - Brendan Sherry

I’m a senior consultant at CreditorWatch. I have been with the company new for 4 years assisting larger corporate customers onboard new customers or suppliers safely through our reporting options.

Business Risk Review - July 2021

The July 2021 CreditorWatch Business Risk Review is a reflection of the ups and downs playing out in the economy through the COVID period. Leading credit risk indicators paint a positive view across Australia with businesses in a good position to face the challenges of the current lockdowns.

SMEs set to lift their online game; women leading the demand for unsecured business loans

It seems SMEs have been slow to get onboard the online boom, with only a little over a quarter of SME revenue coming from e-business, according to new research by Banjo.

Using CreditorWatch to support your trade credit insurance policy

This article answers commonly asked questions and explains how CreditorWatch provides businesses with tools and data to strengthen their insurance decisions.

Business Confidence Critical for Trade Credit: New Research

This is the second year CreditorWatch has published its Economic Insights: the Road Ahead report, which is an opportunity to reflect on the financial year that was and form a view on Australia‘s economic future and the factors that are likely to drive it.

Business Risk Review: June 2021

Analysing the ebb and flow of our economic recovery Stats that matter – comparing June’s Business Risk Review 2021 to May 2021 External administrations down 22.6% Court actions down 9%…

CreditorWatch Payment Rating

It’s as easy as ABCDEOn 1 July 2021, CreditorWatch launched Payment Rating - our latest product designed to shed light on slow-paying businesses. The new tool scans business-to-business transactions to…

Maintaining Business Performance by Skilfully Implementing Automation

Businesses have accelerated their adoption of technology post pandemic. The CreditorWatch sales team explains why they should be cautious about over-reliance on automation.

Business Risk Review: May 2021

The CreditorWatch Business Risk Review May results are in and might spell trouble for the fledgling COVID economic recovery.

Can the Federal Government Pull Off the Economic Miracle It’s Hoping For?

On a sparkling Sydney day with gun barrel views of the harbour, a room of senior executives were treated to the insights of one of Australia’s most senior and insightful economists, ACCI’s Ross Lambie.

Meet the Crew: Arun Baghel

Meet Arun - our Engineering Team Lead and one of our brilliant developers that has helped create CreditorWatch's team culture from scratch.

PPSR Protection Education Hub

We've teamed up with PPSR experts, the Australian Financial Security Authority (AFSA) and Ledlin Lawyers, to refresh your knowledge on how to protect your business and security interests.

Using the PPSR to Fight Against Unfair Preference Claims

Paul Mead and Hilbert Klaster discuss how unfair preference claims work and how the PPSR protects your business from preferential payment clawback.

The Six Big Benefits of the PPSR

Four letters, six reasons. This is your quick guide to the top benefits you'll enjoy if your business uses the Personal Property Securities Register, or PPSR.

Collection Teams: Upskilling to Overcome Current Challenges

CreditorWatch customers part of a collection team can take advantage of a free workshop from eMatrix and government-subsidised training to boost their skillset. Learn more in this article.

Budget and Business Risk Review (BRI): April 2021

One month on from the end of JobKeeper - what's the state of play? Read CEO Patrick Coghlan's and Economist Harley Dale's expert commentary on our latest Business Risk Review data.

Phoenixing: The Rise of Director Due Diligence

CreditorWatch's Caroline Smith and Dominic D'Andrea offer businesses practical advice and tips on how to spot illegal phoenixing and prevent dodgy directors affecting their cash flow.

Small Business Solutions: Debt Prevention and Management

We've teamed up with Brad Bulow and Angela McDonald to give small businesses practical and easy-to-implement advice on preventing bad debt, collecting late payments and protecting cash flow.

Latest CreditorWatch Product Developments

CreditorWatch is continuously improving its credit risk product suite and business solutions. We've made some impressive strides in the last 18 months. Find out more in this blog.

Strategies to Reduce Supply Chain Risk: Lessons from the Pandemic

Procurement specialist Brendan Sherry offers four practical ways you can mitigate your supply chain risk and implement effective strategies to avoid financial stress.

Business Risk Review (BRI): March 2021

Credit enquiries are on the rise, according to the CreditorWatch March 2021 Business Risk Review. Does this mean increasing business confidence in the Australian economy?

Meet the Crew: Brendan Sherry

Meet Brendan, one of our top performing Senior Sales Consultants, keen travellers and dad-to-be.

JobKeeper Ends on 28 March 2021

What does the end of JobKeeper on March 28 mean for businesses? Economist Harley Dale discusses on the CreditorWatch blog.

The Grasshopper Effect: How to Recognise and Prevent Supplier Hopping

Quick and skilled at camouflage, supplier hoppers have been plaguing Australian businesses before COVID-19, but their ill effects are more widespread than ever. Hilbert Klaster discusses how to detect supplier hopping behaviour.

International Women's Day: CreditorWatch Brisbane Event

Our final International Women's Day event for 2021 was a Brisbane lunch, led by special guests Hetty Johnston AM (child protection advocate and founder of Bravehearts) and Greg Layton (executive coach and founder of Chief Maker).

B2B Sales Strategy: The Evolution Post-Pandemic

Now more than ever, business risk reaps reward. Our National Sales manager Danny O'Neill discusses how B2B sales strategy has shifted since the pandemic and what businesses should be doing to boost cash flow.

International Women's Day: CreditorWatch Melbourne Event

35 guests enjoyed a fine dining experience at our Interntational Women's Day event in Melbourne, but the real showstoppers were the personal experiences shared by successful women in the finance industry, including Caryn Kakas, Head of Housing Strategy at ANZ Bank.

Business Risk Review (BRI): February 2021

Only one month to go until JobKeeper and JobSeeker ends. Find out how economic conditions are panning out before the government's financial relief for businesses stops.

International Women's Day: CreditorWatch Sydney Event

Relive our first International Women's Day event for 2021: a lunch at Cafe Sydney, attended by a close group of inspirational ladies across the finance and media industries.

Meet the Crew: Caroline Smith

Meet Caroline from our Sydney office - our bicycle-riding ray of sunshine that meets new businesses around the state and introduces them to CreditorWatch.

Streamline Your Accounts Receivable Process

Your accounts receivables might be an afterthought, but implementing an effective process is the best way to protect your business from risky debtors and create strong working relationships with your customers. Learn how with these four tips.

Accountants for Small Business: Value Beyond the Numbers

Brad Bulow, Partner at Sammut Bulow Bennett Partners, speaks to CreditorWatch QLD Manager George Wolf about how an accountant can offer value to small businesses.

Business Risk Review (BRI): January 2021

The construction industry is one to watch as payment times blow out to 44 days overdue. Get the latest stats and insights from our Business Risk Review for January 2021.

SME Finance Options: Part 2

Phil Druce, COO of Lend Capital, discusses the different types of finance options available to small businesses in the final part of his blog series.

Using the PPSR to Protect Your Business in the COVID-19 Aftermath

Equip your business with the best protection possible when JobKeeper ends - the PPSR. Our in-house PPSR expert Paul Mead writes about who should be getting their PPS registrations in order, and why.

Work Smarter with Credit Risk Technology

CreditorWatch is a market leader in innovation. Grace Kulbe, one of our Melbourne-based Senior BDMs, writes about her three favourite technology tools that make credit risk management a breeze.

Economic Perceptions with Harley Dale

Harley Dale, CreditorWatch Chief Economist, offers his expert thoughts on the economy, COVID-19 and industry performance in 2021. Where to from here? Find out in his insightful blog post.

Lending Insights: Helping Lenders Prevent Loan Stacking

Lending Insights is an industry first. Learn more about the tool that gives finance businesses and lenders data and visibility over borrowers who are loan stacking.

Navigating Temporary Restructuring Relief During 2021

Temporary restructuring relief is available to eligible companies until 31 March 2021. Find out what this means for both creditors and insolvent businesses.

Business Risk Review (BRI): December 2020

Get the latest industry stats from the CreditorWatch Business Risk Review and expert insights from CEO Patrick Coghlan and Economist Harley Dale.

A Deep Dive Into the Queensland Economy

How has the Queensland economy fared in 2020? Our QLD Sales Manager George Wolf interviewed renowned Australian economist Dr Marcus Smith for an expert look into the issues, facts and figures that have driven the state this year.

Business Risk Review (BRI): November 2020

This is the last Business Risk Review for 2020. How is the economy recovering after a disastrous year and what does the outlook like for the New Year? Equip yourself with the data that matters.

SME Finance Options: Part One

Phil Druce, COO of Lend Capital, makes his debut on the CreditorWatch blog with Part 1 of an insightful series designed to help small businesses understand the types of loan products available to them.

You Ask, We Answer: RiskScore Q&A

RiskScore is the most predictive credit score in the market to assess the creditworthiness of your commercial customers. See if your question has been asked, and if not, get in touch and we'll be happy to help!

Economist Industry Snapshot: Business Risk Review, October 2020

CreditorWatch Economist Harley Dale offers his unique perceptions on the Australian economy and key industries in our latest Business Risk Review.

Business Risk Review (BRI): October 2020

74% of Australian industries recorded a decrease in payment times in October's Business Risk Review. Get the latest statistics and data from our monthly review, including insights from our CEO and Chief Economist.

Taking the Risk out of Commercial Credit Management

We're so proud to finally launch CreditorWatch RiskScore - the most accurate credit score and rating in the market. Learn more about RiskScore and how you can use it to make more informed decisions about your customers.

Three Lessons From Using a Business Credit Bureau

Borna, our Key Account Consultant, reminisces on the three biggest lessons his customers have learnt after being introduced to CreditorWatch and starting to use a commercial credit bureau.

Thinking Big and Driving Change During COVID-19

Ready for a good news story? We chat to Diane Tate, CEO of the Australian Finance Industry Association (AFIA), to find out how Aussie businesses and the finance industry are innovating during COVID-19.

Simplify Debtor Management and Improve Cash Flow

Lucinda Judd, our Trade Consultant, shows you how DebtorLogic can help you get paid faster. She's offering businesses a free ATB analysis to demonstrate how. Read this post for more details.

September 2020: Early Signs of Stabilisation in the Australian Economy

The numbers in our Business Risk Review for September paint an interesting picture of the shift in the Australian economy. Find out the latest data and how your industry has fared in this blog.

Using ApplyEasy to Streamline Business Credit Applications

Trade credit applications can be messy and time-consuming to fill out and review. ApplyEasy, our online credit application tool, is a game changer. Find our why in this blog.

SME Trade Payment Data: Your Key to Reducing Credit Risk

Major Accounts Director, Gordon Porter, is passionate about reducing the credit risk of Australia's corporates with unique data. Find out how CreditorWatch's trade payment data offers the insights you need to avoid bad debt.

Four Ways to Better Manage New Customers and Reduce Business Credit Risk

Matt Jackson, GM of CreditorWatch, discusses why solid business relationships are so important to preserve your bottom line. Read more for his top four tips on how to identify and deal with a risky customer.

Zombie Companies Continue to Hide Under Safe Harbour

Download our latest data on external administrations, payment defaults and payment times in August's Small Business Risk Review - now with insights from CreditorWatch Chief economist Harley Dale.

Set the Course: Navigating a Way Out of the Temporary Insolvency Measures

CreditorWatch, AICM and ARITA call upon the Australian government not to extend safe harbour provisions. We released a whitepaper with unique creditor insights, expert commentary and recommendations from Patrick Coghlan, Nick Pilavidis and John Winter.

Leveraging Trade Payment Data in the COVID-Impacted Economy

Neill Borg, CreditorWatch's Enterprise Accounts Director, discusses how you can use trade payment data to identify hidden risks to your business during COVID-19.

CreditorWatch Data Suggests Small Business Recovery

Are there finally some green shoots appearing in the economy? CreditorWatch CEO Patrick Coghlan is wary, even as payment defaults fall by 13 percent in July 2020.

Credit Risk Technology: The Benefits of Automation

Credit risk management getting you down? Make faster decisions and streamline your internal processes by introducing automation into your business.

Commercial Real Estate and COVID-19: Strategies for Success

The COVID-19 pandemic has permanently transformed the commercial real estate (CRE) sector. Struggling to do things differently? Learn how to be resilient with our three strategies for success.

Meet the Crew: Danny O'Neill

As CreditorWatch's National Sales Manager, Danny has plenty of advice and life lessons to share. However, wearing a white shirt and eating spaghetti at a client lunch is not one of them. Read more here!

Business Risk Review Q2 2020: Industry Analysis

Breakdown CreditorWatch's Small Business Risk Review data to reveal how your industry has been affected by COVID-19 during Quarter 2 2020.

Zombie Companies Multiply as Payment Times Blow Out

Our Small Business Risk Review data for June shows payment times across all industries have blown out by an average of 49 days year-on-year. Access the latest business stats in this article.

Meet the Crew: Alberto Cubeddu

Meet CreditorWatch's Head of Development and all-round ray of sunshine - Alberto Cubeddu. Learn how he leads his team to success in this employee profile.

How to Avoid the Preference Payment Trap

Are you at risk of being caught in a preference payment trap? In this article, Insolve discusses how to avoid the dangers of preference payments and the importance of securing yourself as a creditor.

New and Improved: Downloadable Credit Report PDFs

Commercial credit risk management has never looked so good. We have given our downloadable credit report PDFs a makeover: a striking design, clearer analysis and more data options than ever before. Read this how-to guide before downloading yours.

BBW Lawyers' COVID-19 Update: Transitioning Out of COVID-19 Restrictions

This is the third COVID-19 update from BBW Lawyers. Learn how the New South Wales Courts are gradually relaxing COVID-19 restrictions and a implementing a phased return to in-person hearings.

Adverse Cross Directorships: Mitigating Director Risk

It's official: Director Identification Numbers (DINs) will now be assigned to all company directors to improve accountability and prevent illegal phoenixing. Learn how CreditorWatch is helping in the fight with our feature Director Due Diligence.

Five Facts About Business Bad Debts

Should you write off your bad debts at the end of financial year or keep chasing the non-compliant debtor for payment? Natalie Ledlin from Ledlin Lawyers offers five facts to help you decide.

How to Get Debtors to Pay During COVID-19

There are plenty of tools available to collect money from debtors during COVID-19, but do you know how to use them? Learn to recognise when you should offer leniency, register a payment default or escalate to a debt collector.

The Post-September Economy

The government's temporary relief measures for businesses will end on 24 September, leaving countless businesses in danger of collapsing and the insolvency sector in overdrive. Find out what our latest unique data shows.

Zombie Companies: Is Your Business Under Threat from the Corporate Walking Dead?

CreditorWatch CEO Patrick Coghlan and the expert panel at Insolve share their tips on how to identify a zombie company and protect your business with credit risk management and due diligence.

Meet the Crew: George Wolf

When not keeping his three young daughters in line, George has his hands full with his Brisbane-based sales team who are going from strength-to-strength.

Company Financial Statements: Identifying Signs of Business Failure

Understand company financials and the benefit of a Financial Risk Assessment to assess the financial health of your customers and suppliers. Watch the webinar or read this overview to gain valuable insights.

Vinnies CEO Sleepout 2020

On June 18, Patrick Coghlan will rough it for the night and sleep in his backyard to experience what it's like to be homeless. Unfortunately, this is a reality for thousands of Australians. Please give what you can and help Vinnies support Australians in need.

CrewTalk: What We've Learnt From the Lockdown

As the COVID-19 lockdown laws and social distancing measures are gradually being lifted, the CreditorWatch team reflect on the biggest lessons to come out of the last few months.

Managing Subcontractor Risk in the Construction Industry

Identify the risks of using subcontractors in the construction industry and learn how to reduce subcontractor risk with these tips from CreditorWatch.

Keep Your Business Running in COVID-19 with Electronic Acceptance

Keep your business running smoothly, even during social distancing, by using electronic acceptance and ApplyEasy. It's a secure and efficient way of onboarding your customers and growing your business.

Customer Risk Management During COVID-19: DebtorLogic

COVID-19 and the Australian economic downturn has proven how important it is to assess the payment behaviour of your customers. Learn how DebtorLogic can help you find the customers in your ledger that pose the biggest risk to your business.

Escalating Late Payments: A Game Plan to Recoveries

All businesses, especially SMEs, need to set a game plan to recover late payments and avoid bad debt. Read on for BBW Lawyers' five steps to collecting what is owed to you.

Business Risk Review: Quarter 1 2020

Our quarterly Small Business Risk Review is out, compiled with unique data from more than 26 sources. This edition explores the trading conditions and difficulties small businesses faced during the brink of the COVID-19 pandemic at the start of 2020.

Meet the Crew: Lucinda Judd

COVID-19 might have keen traveller Lucy grounded for now, but she still spends her working week helping our customers achieve new heights with their PPSRLogic and DebtorLogic subscriptions. Find out what makes this Customer Success Manager a true success herself!

BBW Lawyers' COVID-19 Update: Witnessing Documents in Isolation

This is Part II in BBW Lawyers' series of COVID-19 legal updates. The requirements of witnessing and executing legal documents during COVID-19 social isolation have changed. Learn more in this blog post.

PPSR: Frequently Asked Questions

Have a burning question about PPSR? It can be tricky to understand, so CreditorWatch's PPSR expert Paul Mead answers some of our most common ones. If you have anymore, please get in touch!

Payment Defaults: The Provocative Tool That Works

Payment defaults not only help you get debtors to pay you faster, they warn you and other companies of slow-paying debtors.

Q&A: Debunking COVID-19 Creditor Myths

These are the most common questions we've been asked by creditors during the COVID-19 pandemic. Get up to speed on your rights as a creditor, insolvency laws, court actions and how to protect your business during this time.

Modernising Business Registers and Director Identification Numbers (DINs)

The Modernising Business Registers (MBR) program can help stop fraudulent and phoenix activity in the Australian economy. This blog post covers the introduction of Director Identification Numbers (DINs) and the benefits of the new legislation.

PPSRLogic: Simplify Your PPSR Registrations

PPSRLogic is CreditorWatch's award-winning PPSR platform, making it easier for businesses of all sizes to create and manage their registrations. Find out more about this powerful product and the free resources to help you get started.

COVID-19: Effects on Legal and Debt Recoveries

In this guest post from BBW Lawyers, gain an insight into what the new bankruptcy measures mean for you and what you can do now to help protect your business during the uncertain time created by COVID-19.

Meet the Crew: Staying Home and Staying Happy

Some of the crew at CreditorWatch answered five questions about how they're staying productive working from home and keeping entertained and positive during this trying time.

COVID-19: What Options Do Creditors Have?

What options do Australian creditors have to protect their business and get paid during the COVID-19 pandemic? The Solvers spoke to Bill Cotter, Bruce Passetti and Ginette Muller for their expert opinions and advice.

CreditorWatch's Unique Data

What makes us unique? Neill Borg, CreditorWatch's Major Accounts Director, explains the unique data sets we use to help all Australian businesses identify credit risk and do their due diligence.

Coronavirus and Insolvency: Expert Advice for Directors

All businesses are struggling during the coronavirus pandemic and it can be difficult to know what advice you can trust. John Morgan and Ginette Muller share their expert opinion on what directors can do to help preserve their business' value.

How to Improve Your Credit Score

Your company credit score is a key factor in securing the finances you need to build your business. Learn how to improve your credit score and understand the risk factors that you need to be mindful of.

Meet the Crew: Luke Matthews

Ever since being cast in a Filipino Head and Shoulders shampoo commercial in 2013, Luke has been destined for big things. You can now find him in the spotlight as one of Brisbane's Senior Business Development Managers, helping businesses mitigate their credit risk and taking table tennis way too seriously.

Coronavirus and Economic Uncertainty: How to Protect Your Business

Are you an Australian small or medium-sized business affected by the coronavirus? Find out how to protect your business and manage your supply chains with this blog post.

Hats Off to Trusts - A Video Guide to Trusts

Trusts can be tricky to understand. Join the experienced team from Ledlin Lawyers in this short video that clears up the confusion about how to deal with trading trusts.

International Women's Day 2020 and Dignity Drive

Find out what five of the women at CreditorWatch think about equality, inclusiveness, and what it means to be a strong female in this post to celebrate International Women's Day 2020.

The Importance of Data Cleansing and a Credit Portfolio Health Check

Perform an annual Portfolio Health Check to validate your information and identify your risky customers. Discover the benefits of data cleansing for your business and how CreditorWatch can help clean up your act.

Meet the Crew: Leanne Penza

Keen bungy jumper Leanne Penza has leapt into her new role as CreditorWatch's Key Accounts Manager. Find out how she helps our customers get the biggest benefit they can from our suite of credit risk management tools.

In a Credit Pickle? Your Credit Policy Needn't Cause Indigestion

Do you have a credit policy? When was the last time you checked it? Ledlin Lawyers are here to spice up credit policies in this guest blog post with a burger analogy that you'll want to sink your teeth into.

Slow Paying Clients? Not On Our Watch

Do you have slow paying clients? Are late payments affecting your business' cash flow? Find out how easy it is to be proactive with CreditorWatch's top three tips and sign up for a free seven-day trial today.

Credit Reports: Top 10 Questions from Small Business

Do you have questions about your small business credit report? We answer the 10 most common questions we get from SMEs about credit reports, credit scores and how to get the most out of CreditorWatch.

A 7-Step Collection Strategy to Get Paid Faster

Want your clients to pay faster? Improve your debtor management and increase your chance to get paid faster with these cash flow tips.

Australian Retail Industry: Small Business Risk Review Q4 2019

Read about how the Australian retail industry has fared in our Small Business Risk Review data for Q4 2019. Amidst dozens of shop closures and job losses already in 2020, find out what retailers need to do to avoid the road to external administration.

Meet the Crew: Hilbert Klaster

Sure, Hilbert Klaster from our Melbourne team would love to be leading the Aussie cricket team to victory at Lords, but being a Senior Business Development Manager at CreditorWatch is where he really shines. Learn more about Hilbert in our first Meet the Crew article.

Case Study with Prospa: PPSRLogic

Zoe Treadgold, Collections Officer at Prospa, shares how PPSRLogic has delivered instant benefits to the team and has made the process of registering on the PPSR and mitigating risk more efficient.

Small Business Risk Review Q4, 2019

Each quarter, CreditorWatch releases a Small Business Risk Review, using data from numerous public sources like ASIC as well as proprietary data from our 55,000+ customers. Discover the findings from Quarter 4, 2019 and what it means for industries around Australia.

How to Reduce the Risk of Bad Debt

Is it possible to prevent bad business debt? And what are the best debtor management strategies for your small business? Get the answers to these questions and learn how DebtorLogic can help maintain your business' financial health with this blog post.

CrewWatch Episode 6: Our Inclusive and Unique Culture

At CreditorWatch, we celebrate our differences and diversity everyday. Watch this video to learn the different ways we create an inclusive and fun work culture.

PPSR and SMEs: An Introduction to Protecting Your Small Business

The PPSR (Personal Properties Securities Register) isn't as complicated or time-consuming as you might think. Learn how the PPSR can protect SME owners and the benefits CreditorWatch and PPSRLogic can provide to your business.

Our NEW DebtorLogic: More Features, More Data

Find out what makes the new and improved DebtorLogic faster and easier to use. This ATB tool is packed with data that will transform the way you collect your debts and manage your customers.

CrewWatch Episode 5: Healthy Body = Healthy Mind

Exercise isn't just a New Year's resolution - it should be part of your everyday routine! In this episode of CrewWatch, find out how CreditorWatch stays active during the week and learn more about the fun and energetic culture in the office.

2019: A Year in Review

New products, babies and a boat race. 2019 had it all and was one of CreditorWatch’s biggest years to date. We love celebrating each other’s successes and last year was no exception. Read about it here!

Improve Cash Flow By Retraining Your Debtors

Want to know how to improve cash flow? One way is by improving the way you manage your debtors. Try these tips to convince your debtors to pay you on time and safeguard your business' cash flow.

2019 Rolex Sydney Hobart Yacht Race

Not one to shy away from a challenge, our CEO Patrick Coghlan is gearing up for his first Rolex Sydney to Hobart Yacht Race onboard the InfoTrack Super Maxi. Find out Patrick's thoughts on this Boxing Day feat in this blog post.

Industry Insights Quarter 3, 2019: Construction remains the worst performing industry but others catch up

It is no surprise that Construction remained the worst industry for court actions in Quarter 3, 2019. However, other industries are showing signs of catching up.

Small Business Risk Review Quarter 3, 2019: Topsy-turvy business conditions endure

Looking for data on Quarter 4? Read how the retail industry has fared at the end of 2019. CreditorWatch’s Small Business Risk Review for Quarter 3, 2019 highlights a large…

Case Study: Best in Class Customer Origination Experience with API Integration

CreditorWatch API allows you to seamlessly integrate our products directly into your ERP, CRM or third-party system. Watch how GetCapital uses CreditorWatch API Integration here.

Is it the right time for your business to expand?

As a small business owner, managing growth can be a tough part of the job. Success is what you strive for, but it can also be stressful when you’re not…

The Plimsoll Line: Are you or your customers going under?

Here’s a Fun Fact Who would have thought that a line marked around the hull of merchant ships could be such a lifesaver? In the late 19th century, Samuel Plimsoll,…

Small Business Late Payment Solutions Part 2: It’s time to embrace accessible technology

Recently, CreditorWatch caught up with Noel Tiufino (Managing Director) and Raj Saini (Partner) from MyAccounts and Angus Capel (Small Business Advocate) from Xero to have a discussion about late payments…

Small Business Late Payment Solutions Part 1

Everyone needs to play their part Recently, Creditorwatch caught up with Noel Tiufino (Managing Partner) and Raj Saini (Partner) from MyAccounts and Angus Capel (Small Business Advocate) from Xero to…

CrewWatch Episode 3: Behind the Scenes of Our Dev Team

CreditorWatch would not be where we are at now without the minds, efforts and collaboration of our fantastic dev team. They are the bread and butter behind our products. Hear from two of our senior dev team members and how innovation, data, collaboration and big thinking have made CreditorWatch what it is today.

PPSRLogic wins CreditorWatch ABA100 Award in Business Technology Category

CreditorWatch has been recognised as an ABA100 Winner in The Australian Business Awards 2019 in the Business Technology category for PPSRLogic “We are honoured to accept the 2019 ABA100 Award…

Court actions increased in FY2019 in comparison to FY2018