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bad debtCash Flow

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!

Chief EconomistCreditorWatch

Jobs growth keeps up with population growth… for now

Business conditionsBusiness Insights

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

AML (Anti-Money Laundering)AML/CTF

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

ComplianceElectronic signatures

Electronic signatures: Are they legally accepted in Australia? 

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Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Business conditionsBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

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ASICBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

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

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?

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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.

Business Insights
Business InsightsBusiness Risk Index

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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.

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Business InsightsSmall Business

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.

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Business Insightsfinance career

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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.

Business Risk Index June 2022 Industry Insights
Business InsightsBusiness Risk Index

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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.

Media Release - Business Risk Index
Business InsightsBusiness Risk Index

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.

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Business InsightsCreditorWatch

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.

Industry insights - Business Risk Index
Business InsightsBusiness Risk Index

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.

Media Release - Business Risk Index
Business InsightsBusiness Risk Index

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.

Business InsightsMonitoring and Alerts

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.

Business InsightsFinancial Risk Assessment

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.

Business InsightsCredit Management

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.

Credit History
Business InsightsCredit Management

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.

Security
Business InsightsCreditorWatch

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.

Emma Berry
Business InsightsCreditorWatch

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.

Data
Business InsightsDebt Collection

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.

Chief Economist
Business InsightsCredit Reports

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.

Business Insights
Business InsightsBusiness Risk Index

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.

Business Insights
Business InsightsBusiness Risk Index

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.

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Tightrope walker
bad debtCash Flow

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!

Labour Force Commentary
Chief EconomistCreditorWatch

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Computer hacker
AML (Anti-Money Laundering)AML/CTF

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 signature
ComplianceElectronic signatures

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.

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ApplyEasyCreditorWatch

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.

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Product Updates

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.

Chief EconomistCreditorWatch

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.

Woman thinking
bad debtCash Flow

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.

Business conditionsBusiness Insights

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 (CPI): Our view
Chief EconomistCPI

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Interest Rate Commentary
Chief EconomistCreditorWatch

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.

Labour Force Commentary
Chief EconomistCreditorWatch

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.

Chief EconomistCreditorWatch

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.

Cash FlowCredit Management

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 (CPI): Our view
Chief EconomistCPI

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.

Business insights - retail sales commentary
Chief EconomistCreditorWatch

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.

checking watch late
Cash FlowCredit Management

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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 Force Commentary
Chief EconomistCreditorWatch

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.

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CreditorWatch

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.

Federal Budget
Chief EconomistCreditorWatch

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.

API
API Integration

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.

CreditorWatchDebt Collection

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.

Interest Rate Commentary
Chief EconomistCreditorWatch

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.

Business insights - retail sales commentary
Chief EconomistCreditorWatch

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.

Past due letter
CreditorWatchDebt Collection

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 (CPI): Our view
Chief EconomistCPI

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 Force Commentary
Chief EconomistCreditorWatch

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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
CreditorWatch

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.

ATO Australian Taxation Office
ComplianceTax

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.

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ComplianceLegal

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.

April 2024 product update
ApplyEasyCreditorWatch

CreditorWatch April 2024 product updates

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

Scales of justice
ComplianceLegal

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.

Privacy policy
ComplianceLegal

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 disclosure
ATOTax

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.

HRD 5-Star Employers of Choice 2024 - CreditorWatch
Employer of ChoiceGreat Place to Work

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.

Business confidence & consumer sentiment: Our View
Chief EconomistCreditorWatch

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.

Mountain of paperwork
Cash FlowCash management

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 (CPI): Our view
Chief EconomistCPI

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.

Labour Force Commentary
Chief EconomistCreditorWatch

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.

Interest Rate Commentary
Chief EconomistCreditorWatch

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Chief Economist
Chief EconomistCreditorWatch

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?
CreditCredit Management

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.

Head shot of, Anneke Thompson, Chief Economist, CreditorWatch
Chief EconomistCreditorWatch

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.

Business insights - retail sales commentary
Chief EconomistCreditorWatch

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 (CPI): Our view
Chief EconomistCPI

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.

man standing in a warehouse looking at his stock
Cash FlowFinance

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 Commentary
Chief EconomistCreditorWatch

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Interest Rate Commentary
Chief EconomistCreditorWatch

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.

women in shop looking at computer
Credit ratingCredit Reports

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 (CPI): Our view
Chief EconomistCPI

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.

Business insights - retail sales commentary
Chief EconomistCreditorWatch

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.

business man in suite holding up rock
Cash FlowCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

two men hands pointing at printing paper
Credit ManagementCredit Risk

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
CreditorWatchSmall Business

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.

women with headphones on holding a phone
CreditorWatchPodcast

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.

person typing with red alerts poping up
CreditorWatchDue Diligence

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.  

man in suit staring into the future
CreditorWatchRisk Management

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.

Samer Sadek: (Principal Solutions Architect) - Headshot
CrewWatchMeet the Crew

Meet Samer Sadek – Your Principal Solutions Architect

Meet Samer Sadek, your Principal Solutions Architect

2024 loading
CreditorWatchRisk Management

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.

Head shot of, Anneke Thompson, Chief Economist, CreditorWatch
Chief EconomistEconomic Snapshot

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.

Labour Force Commentary
Chief EconomistCreditorWatch

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Shriya Gosain
CrewWatchMeet the Crew

Meet Shriya Gosain – Your Collection Solutions Specialist 

Meet Shriya Gosain, your Collection Solutions Specialist

older man with grey hair in a blue suit looking into the camera smiling
Cash FlowCash management

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.

older man with grey hair in a blue suit looking into the camera smiling
Cash FlowCash management

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.

Interest Rate Commentary
Chief EconomistCreditorWatch

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.

Head shot of, Anneke Thompson, Chief Economist, CreditorWatch
Chief EconomistCreditorWatch

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.

Inflation (CPI): Our view
Chief EconomistCPI

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.

Business insights - retail sales commentary
Chief EconomistCreditorWatch

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.

Celebration
CreditCredit Management

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.

Jason Sutherlin smiling at the camera with a white and red background
CrewWatchMeet the Crew

Meet Jason Sutherlin – Your PPSR Solutions Specialist

Meet Jason Sutherlin, your PPSR Solutions Specialist.

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ASICBusiness Insights

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.

Labour Force Commentary
Chief EconomistCreditorWatch

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Chief Economist
Chief EconomistCreditorWatch

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
Business InsightsCreditorWatch

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?

Interest Rate Commentary
Chief EconomistCreditorWatch

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.

Annette Gilbert
CrewWatchMeet the Crew

Meet Annette Gilbert – Your Onboarding Solutions Specialist

Meet Annette Gilbert – Your Onboarding Solution Specialist

Data
ApplyEasyCreditorWatch

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.

Business man at a computer
accounts receivableCredit control

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.

Retail sales commentary
Chief EconomistCreditorWatch

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.

Inflation (CPI) Commentary - October Insights
Chief EconomistCPI

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.

man and women looking at computer smiling
CreditorWatchDue Diligence

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.

Labour Force Commentary
Chief EconomistCreditorWatch

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.

Arrow hitting the target
Credit ManagementCredit Risk

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Need help?
CreditorWatchDebt Collection

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
Credit ManagementCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

ocean with an iceberg. The iceberg can be seen above the water and underneath
Credit ReportsDue Diligence

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.

Chief Economist
Chief EconomistCPI

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.

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CreditorWatchPPSR and PPSA

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).

Kaitlyn's head shot with white and red background
CrewWatchMeet the Crew

Meet Kaitlyn Knight – Your Onboarding Solutions Specialist

Meet Kaitlyn Knight – Your Onboarding Solutions Specialist

Chief Economist
Chief EconomistCreditorWatch

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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
ApplyEasyAutomation

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.

business man with electronic visuals
CreditorWatchDue Diligence

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.

graphs
Credit ManagementCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

man's hands at computer with an arrow going up
CreditorWatchRisk Management

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Bethany Brown head shot with a white and red background
CrewWatchMeet the Crew

Meet Bethany Brown – Your Collection Solutions Specialist

Meet Bethany Brown, your Collection Solutions Specialist.

a man and women at a coffee shop. man has credit card in hand and the women is leaning over his shoulder. They are both looking towards a laptop screen smiling
Credit ManagementCredit Risk

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.

Media Release: Business Risk Index
Business conditionsBusiness Insights

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.

Chief Economist
Chief EconomistCreditorWatch

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
CreditorWatchRisk Management

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.

Chief Economist
Chief EconomistCreditorWatch

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?
CreditorWatchRisk Management

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.

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Due DiligenceFraud

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.

Head shot of, Anneke Thompson, Chief Economist, CreditorWatch
Chief EconomistCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

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CreditorWatchNews

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.

New products & product enhancements - June 2023
API IntegrationApplyEasy

CreditorWatch July 2023 product updates

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

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CreditorWatchFinancial Risk Assessment

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.

Women looking at reports
Credit ReportsCreditorWatch

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.

man's hand holding a digital reporting. He is wearing a blue shirt
AML (Anti-Money Laundering)AUSTRAC

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.

person standing in a maze
CreditorWatchCreditorWatch Collect

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.

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CreditorWatchCreditorWatch Collect

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.

Chief Economist
Business Risk IndexChief Economist

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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 agency
Debt Collectiondebtor management

Debt collection agencies in Australia 

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

Head shot of, Anneke Thompson, Chief Economist, CreditorWatch
Chief EconomistCreditorWatch

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.

Business Consulting meeting working and brainstorming new business project finance investment concept.
Lenders InsightsMedia Release

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

Man looking under couch
Debt Collection

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.

Chief Economist
Chief EconomistCreditorWatch

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 credit score update
Credit ratingCredit Reports

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.

credit report file in hands
Credit Reports

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 account button
Cyber-securityFraud

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.

Business Insights
Business InsightsBusiness Risk Index

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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
Debt Collectiondebtor management

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.

person in boat navigating tough water
Business InsightsSmall Business

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.

Risky business
Credit ratingCredit Reports

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.

Andrew Blundell
InsolvencyNews

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.

Chief Economist
Chief EconomistCreditorWatch

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.

A businessman's hands multitasking with a pen and laptop, jotting down notes and working on important documents.
Due DiligenceInsolvency

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.

Chief Economist
Chief EconomistEconomic Snapshot

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.

Debt collection
CreditorWatchDebt Collection

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.

A mobile banking app displayed on a smartphone screen, allowing users to manage their finances on the go.
Cash FlowFinance

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.

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NewsWhitepapers

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Business Consulting meeting working and brainstorming new business project finance investment concept.
Credit ManagementCredit Reports

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.

credit score scale with a business man pushing it
Credit ReportsRiskScore

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.

Traffic sign next to a road
Business Insightsfinance career

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 vs bad
CreditCredit control

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.

CreditorWatch employee Stirling smiling with a red and white background
Credit ManagementCredit Risk

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
CreditFinance

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,

Bad credit
Credit controlCredit Management

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.

after pay logo on a laptop screen with white background
Credit ReportsDebt Collection

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.

Industry insights - Business Risk Index
Business Risk IndexCreditorWatch

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
accounts receivableCredit control

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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.

two men in suits at a desk looking at a report
Credit ManagementCredit Reports

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.

A woman in glasses and a polka dot shirt talking on the phone at her desk.
Cash managementCredit control

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.

Piggy bank jenga
Credit RiskFinancial Risk Assessment

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.

Person holding 3 credit cards
Credit ManagementCredit rating

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.

Dominoes
CreditCredit Risk

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.

A man in a suit balancing on a balance beam with dollar signs in the background.
Cash FlowCash management

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.

A businessman using a calculator and laptop to calculate financial data.
Credit ReportsCredit Risk

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.

Creditorwatch staff
Credit ManagementCreditorWatch

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.

sunset with cranes
ConstructionInsolvency

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

Woman wearing glasses typing on laptop computer.
accounts receivableCash Flow

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.

Large wave with surfer
Credit RiskFinancial Risk Assessment

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.

Jar of coins with a typed label on top with the word debt.
Cash FlowCash management

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.

Cars planes boats
PPSR and PPSA

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.

Magnifying glass
Due DiligenceOnboarding

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.

Chief Economist
Chief EconomistEconomic Snapshot

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%.

check list
Credit controlCredit Management

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.

Tight rope walker
Credit RiskRisk Management

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.

Woman cutting up her credit card
CreditCredit rating

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.

A man in a suit holding an umbrella, shielding himself from a lightning storm.
Business conditionsEconomics

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
Cash FlowCash management

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.

Four professional women discussing in a modern office setting.
AML (Anti-Money Laundering)AUSTRAC

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Tenancy Agreement
Credit ratingCredit Reports

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.

Three professionals discussing strategy in a boardroom meeting.
AML (Anti-Money Laundering)AUSTRAC

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.

Calculator displaying the word 'Credit'
accounts receivableCash Flow

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.

A man sitting at a desk with his head on the phone, looking stressed and overwhelmed.
accounts receivableCash Flow

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.

Business Risk Index June 2022 Industry Insights
Business InsightsBusiness Risk Index

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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.

confused woman
accounts receivableCash Flow

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.

Man smiling while holing a laptop
Cash FlowCash management

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.

Loan
Cash managementFinance

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.

Data
Credit RiskData

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.

Check your Credit Report
CreditCredit control

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.

Chief Economist
Chief EconomistEconomic Snapshot

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.

A man in glasses and a sweater making a funny face.
CreditCredit control

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.

Person holding Apples
CreditLending

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

Juggling
accounts receivableCredit control

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.

Chief Economist
Chief EconomistEconomic Snapshot

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.

Credit cards
Cash management

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.

unlocking handcuffs
Credit controlCredit Management

How to remove a paid judgement from a credit report in Australia 

Court judgements in Australia typically remain on a credit report for five years, sometimes even after a borrower has paid off the debt.

Shaking hands
FinanceLending

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.

Land surveyor
Credit control

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.

business loan
Cash FlowFinance

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.

Magnifying glass
Credit Reports

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.

Cyber security
CreditorWatchCyber-security

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.

Accounting
accounts receivableCash Flow

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.

Pleading
Credit ratingCredit Reports

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.

Cyber criminal
Cyber-security

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.

handing over money
Finance

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.

Chief Economist
Chief EconomistEconomic Snapshot

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%.

Natalie Ledlin
AutomationCash Flow

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.

two dice
accounts receivableCash Flow

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

shaking hands
Credit ManagementFinance

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.

trended data
Data

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 controller
Credit controlCredit Risk

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.

XYZ Finance
Credit ManagementCredit rating

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.

XYZ Finance
Credit ratingCredit Risk

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.

Data Security
ATOCreditorWatch

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.

Cash tap
Cash FlowCash management

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.

Credit control
accounts receivableCash Flow

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 controller
accounts receivableCash Flow

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.

Credit risk sign
Credit ManagementCredit rating

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.

Confused man
Credit ManagementCredit rating

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.

Media Release - Business Risk Index
Business conditionsBusiness Insights

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.

Chief Economist
Economic SnapshotEconomics

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.

Small Business Loan Application
Credit ratingCredit Risk

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.

Chief Economist
Chief EconomistInterest rates

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.

Chief Economist
Business conditionsChief Economist

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.

CreditorWatch Collect logo
CreditorWatch CollectDebt Collection

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.

A man in motion, clutching a shoe that is riddled with arrows.
CPMCredit Management

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.

Commercial property
Commercial propertyProcurement

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.

handcuffs
BankruptcyCredit Management

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.

BankruptcyCredit Risk

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.

Media Release - Business Risk Index
Business InsightsBusiness Risk Index

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.

Australian bank notes
Credit ManagementFinance

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.

Australian Taxation Office
ATOCreditorWatch

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.

Cash FlowCredit Risk

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.

Online Invoice Management Software On Computer Screen
accounts receivableCash Flow

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.

Refusal
Credit ManagementDebt Collection

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
CreditorWatch

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.

Q&A - What to do if you get an ATO Director Penalty Notice
ATOCredit Management

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.

Bad credit
CreditorWatchRisk Management

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.

Bad credit
Business InsightsCreditorWatch

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.

piggy bank
AFSA (Australian Financial Security Authority)Bankruptcy

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.

A man working at a desk with his laptop and a cup of coffee nearby.
accounts receivableAutomation

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.

A computer screen displaying accounting software
accounts receivableAutomation

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.

A woman wearing glasses sits at a table, focused on her laptop.
AML (Anti-Money Laundering)Due Diligence

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.

taking control
Cash FlowCredit Management

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.

Risky businesses
Credit RiskRisk Management

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
Cyber-securityData

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.

Sunrise
ACN (Australian Company Number)ASIC

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.

Recession
Economics

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.

Voluntary liquidation
AdministrationSmall Business

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.

Sign saying "Big sale - Closing down"
ASICSmall Business

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.

watching
Credit ManagementCredit Risk

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Risk Ahead
Credit ReportsCredit Risk

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.

Onboarding
Due DiligenceOnboarding

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.

Afterpay
Credit ReportsDebt Collection

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).

Industry insights - Business Risk Index
Business InsightsBusiness Risk Index

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.

Media Release - Business Risk Index
Business InsightsBusiness Risk Index

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.

A person with a clock and laptop at a work desk.
Cash FlowDebt Collection

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
Debt CollectionRisk Management

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.

Too late!
CreditorWatchData

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.

Chief Economist
Chief EconomistCreditorWatch

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.

Chief Economist
Chief EconomistEconomic Snapshot

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.

Man smiling while holing a laptop
Debt Collection

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
Credit ManagementCreditorWatch

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.

Women smiling on the beach
Cash Flow

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
CreditorWatchCrewWatch

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.

Flight information board displaying the word "cancelled" in bold letters.
Cash FlowDebtorLogic

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
Cash FlowWorking Capital

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.

A diverse group of individuals wearing construction vests and hard hats, working together on a construction site.
ConstructionDebt Collection

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.

Media Release - Business Risk Index
Business Risk IndexCreditorWatch

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.

Industry insights - Business Risk Index
Business Risk IndexCreditorWatch

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
CreditorWatchPPSR and PPSA

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.

Credit risk sign
Credit ManagementCredit Risk

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.

Chief Economist
Chief EconomistEconomic Snapshot

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 a