Business Insights for Everyone
Just like you have an individual credit file, all businesses have a commercial credit file and credit history too. CreditorWatch holds a credit report for every business in Australia allowing you to assess the credit worthiness of any potential customer before opening an account for them. This will assist you in confirming exactly who you are doing business with it, as well as helping you to avoid bad debt and slow paying customers.
Is the business entity registered or in administration? Is their ABN active or cancelled? How old is the company?
This data can include court actions, payment defaults and outstanding debts registered by other CreditorWatch users, administrator and liquidator appointments or winding up proceedings that may have commenced against the company.
Details of office holders including there registered addresses and birth details.
Before you take on a new customer and offer them a credit account, you should be doing due diligence on them. Check their credit report for important credit risk indicators (actions and defaults) that may affect their ability to pay your invoices.