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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.

CreditorWatch

Newsletter: Legal Pulse

ComplianceTax

The tax man cometh - be warned

ComplianceLegal

Dealing with an ATO Director Penalty Notice

ContractsLegal

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

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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.

older man looking at laptop concerned with his hand on his forehead
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.

Business InsightsCreditorWatch

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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 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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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.

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.

worried man
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.

Unfair
ContractsLegal

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

Significant changes to the unfair contracts regime came into law in November 2023, with new multi-million dollar penalties for companies and individuals forcing trading partners to sign contracts deemed unfair. Are your contracts fair and equitable?

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?”

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.

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.

EFTPOS
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
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.

Unemployment copy
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.

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.

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
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.

Unemployment copy
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.

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
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.

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

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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.

Unemployment copy
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 head shot
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.

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
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.

older man looking at laptop concerned with his hand on his forehead
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.

Unemployment copy
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.

Business InsightsCreditorWatch

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

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?

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 - head shot
CrewWatchMeet the Crew

Meet Annette Gilbert – Your Onboarding Solutions Specialist

Meet Annette Gilbert – Your Onboarding Solution Specialist

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.

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
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.

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.

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.

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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.

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.

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.

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.

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.

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.

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.

person in hoody looking at blue code surrounding him
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.

API IntegrationApplyEasy

CreditorWatch July 2023 product updates

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

Financial Risk Assessment energy onboarding
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.

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 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.

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.

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.

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.

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
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.

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.

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.

two people at a table looking at a computer screen with credit reports on it
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.

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,

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.

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.

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.

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.

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.

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

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.

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).

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.

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.

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.

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.

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.

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.

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.

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.

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.

credit reports
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.

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.

apples and 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.

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.

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.

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.

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.

risk protection
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 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.

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.

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.

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.

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.

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.

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.

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.

winding up
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.

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

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.

Chief Economist
Economic SnapshotNews

October 2022 Labour Force Summary

Today’s labour force data showed 32,200 people in Australia gained employment in October 2022, dropping the seasonally adjusted unemployment rate to 3.4%, down from 3.5% in September 2022. The labour market remains extremely tight, reflecting the very high levels of capacity utilisation that businesses continue to report.

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.

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.

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.

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 are really about to start impacting the performance of Australian economy.

Cash FlowInflation

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

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

Credit ReportsCreditorWatch

What is the average credit score in Australia?

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

AutomationCredit Management

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

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

CrewWatchMeet the Crew

Meet the Crew - Emily Hema and Ada Aldea

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

Chief Economist
Economic Snapshot

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

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

Economic Update - October 2022

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

Credit ManagementCredit Reports

How do Australian consumer credit bureaus work?

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

ATOCOVID-19

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

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

Chief Economist
Business Risk Index

September Quarter Inflation Summary

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

Credit ManagementCredit Reports

What credit score do banks use in Australia?

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

Credit RiskRisk Management

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

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

Credit ManagementCredit Reports

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

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

Credit ManagementCreditorWatch

What is a good credit score in Australia

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

BankruptcyCredit Reports

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

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

ASICCreditorWatch

How to close down a company by voluntary deregistration

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

Credit ManagementDebt Collection

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

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

ApplyEasyAutomation

ApplyEasy: Frequently Asked Questions

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

Financial Risk Assessment

How manufacturers can reduce risk with Financial Risk Assessments

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

Credit Risk

Managing reputational and credit risk in the construction sector

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

Payment Defaults

Why hospitality businesses must consider registering payment defaults

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

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.

CreditorWatch

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

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

Chief Economist
Economic Snapshot

Unemployment remains steady in September

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

CreditorWatchPPSR and PPSA

Demystifying the PPSR: protecting yourself, protecting your business

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

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.

Debt Collection

How real estate businesses can benefit from debt collection tools

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

Industry insights - Business Risk Index
Business Risk IndexCreditorWatch

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

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

Business Risk IndexCreditorWatch

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

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

AutomationDebt Collection

Making the debt collection process easier for wholesalers

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

Credit RiskDebtorLogic

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

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

Cash FlowDebt Collection

Making the debt collection process faster and easier

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

ConstructionCredit Management

Get more transparency in your data

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

Credit ReportsRisk Management

Why you should be using CreditorWatch's additional searches

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

Financial Risk AssessmentProcurement

How financial risk assessments can help procurement teams

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

ConstructionDebt Collection

Improving collection rates in the construction sector

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

Credit RiskDebtorLogic

Ensuring fintech businesses that operate in open networks can mitigate risk

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

Chief Economist
Economic Snapshot

Economic Update - Cash Rate increase to 2.60%

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

Chief Economist
Economic SnapshotNews

Economic Update - September 2022

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

Meet the Crew

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

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

ConstructionCredit Risk

How construction companies can effectively collect debt

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

Wholesaler in warehouse
CreditorWatch CollectDebt Collection

How wholesalers can optimise debt collection

Following up on unpaid invoices and outstanding debts can be a frustrating and awkward process. Any unpaid credit to your business can have a devastating impact on your cash flow and your ability to turn over stock.

Credit RiskPPSR and PPSA

PPSR registrations vs Retention of Title Clauses

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

Credit ManagementCreditorWatch

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

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

Credit ManagementCredit Risk

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

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

Credit RiskData

Using data to reduce business credit risk

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

Credit ManagementCredit Risk

How transport and logistics companies can manage credit risk

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

Credit RiskOnboarding

How fintech companies can manage credit risk

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

DataPortfolio Health Check

Improve data management with a Portfolio Health Check

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

Credit ReportsDebtorLogic

Difference between reactive and proactive debtor management

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

Credit RiskDue Diligence

What are the credit risks associated with cross directorships?

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

Credit ManagementDue Diligence

How healthcare services can improve credit management in 2022

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

PPSR and PPSA

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

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

ConstructionRisk Management

Tips for avoiding adverse cross directorships in the construction industry

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

Debt Collection

The power of CreditorWatch's debt collection tools

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

Credit ReportsMonitoring and Alerts

How to improve your business's financial health

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

Debt CollectionDebtorLogic

Protecting the health of your ledger in uncertain times

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

Industry insights - Business Risk Index
Business Risk Index

Pressures increase on businesses as economic conditions change

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

Business Risk Index

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

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

ApplyEasyCredit Management

Wholesalers face risks from poor credit application procedures

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

Credit ManagementCredit Risk

Why perform a business credit check

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

CreditorWatchInsolvency

How to manage the risk of business fraud

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

ApplyEasyCredit Management

How to avoid fraud in the financial sector

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

Cash FlowWorking Capital

Why you should build a 'cash-excellence' culture

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

Chief Economist
Economic Snapshot

RBA lifts rates to seven-year high of 2.35%

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

Credit ReportsCreditorWatch

How to use business credit reports to avoid supplier hoppers

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

PPSR and PPSA

How wholesalers can get the most out of PPSR

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

ConstructionCredit Reports

Why do a construction business credit check?

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

ConstructionCreditorWatch

Combating fraud and phoenixing in the construction industry

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

Debt Collection

How your debt collection strategy affects your business

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

Meet the Crew

Meet the Crew: Ben Hardy-Rollins and Alberto Cubeddu

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

Credit Management

The importance of credit monitoring for wholesalers and retailers

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

Credit Risk

Credit risk management tips for hiring and rental businesses

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

PPSR and PPSA

PPSR: a critical tool for the hiring and rental industry

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

Credit ReportsDue Diligence

Essential steps when conducting director due diligence

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

CreditorWatchRisk Management

Managing fraud in the manufacturing industry

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

Chief Economist
CreditorWatchEconomic Snapshot

Economic Update - August 2022

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

Credit ManagementCredit Reports

Why real estate businesses need to credit check their trading partners

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

InsolvencyPayment Defaults

Using data to predict business default and insolvency risk

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

Economic SnapshotPPSR and PPSA

Benefits of the PPSR for wholesalers

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

Credit RiskPPSR and PPSA

Managing ongoing business risk with the PPSR

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

Financial Risk AssessmentInsolvency

Using Financial Risk Assessments to protect your business from insolvency

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

Credit ManagementCredit Risk

How hospitality businesses can strengthen credit risk management

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

Credit ReportsDebt Collection

Five reasons to register a payment default

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

DataNews

Managing the problem of bad debt

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

Credit ManagementCreditorWatch

How to strengthen your customer onboarding procedures

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

PPSR and PPSA

Why conduct a PPSR search?

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

Chief Economist
Economic Snapshot

Labour Force Update - August 2022

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

Financial Risk AssessmentRisk Management

Going deeper: protecting your business with financial risk assessments

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

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 ReportsMonitoring and Alerts

Why you need to be aware of cross-directorships

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

ConstructionPayment Defaults

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

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

Credit ManagementPPSR and PPSA

What is the PPSR and who is it for?

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

Monitoring and Alerts

Keeping ahead of your competitors with monitoring and alerts

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

BankruptcyLiquidation

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

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

Industry insights - Business Risk Index
Business Risk IndexCreditorWatch

Business Risk Index July 2022 Industry Insights

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

Business Risk IndexCreditorWatch

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

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

Credit ManagementCreditorWatch

How to avoid trade credit insurance claims

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

Credit Risk

How wholesale businesses can manage credit risk

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

CrewWatchMeet the Crew

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

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

CreditorWatchWhitepapers

Whitepaper: How the manufacturing industry can strengthen the Australian economy

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

CreditorWatch

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

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

Chief Economist
CreditorWatchEconomic Snapshot

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

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

Credit RiskDue Diligence

An overview of business credit risk indicators

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

Credit ReportsCredit Risk

Cross directorships: What to look out for

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

Credit ManagementCredit Reports

Not all business credit checks are equal

News Hub Home News Podcasts Webinars Business Risk Index 221 mins read Group With a multitude of credit reporting bureaus in the market providing business credit checks, understanding that…

Credit ManagementCredit Reports

What is a business credit file?

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

Credit RiskData

Reducing credit risk with data management

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

ConstructionPayment Defaults

How construction businesses can avoid late payments

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

Credit Risk

Managing business credit risk in the financial services industry

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

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.

Credit Management

What is a good business credit score?

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

CreditorWatchWorking Capital

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

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

Credit ReportsLogistics

How credit reports can help logistics businesses

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

CrewWatchMeet the Crew

Meet the Crew - Damon Earp, VIC BDM

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

Chief Economist
Economic Snapshot

Inflation to bite across H2 2022

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

CreditorWatchProcurement

Are these four procurement issues slowing down your business?

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

Credit ReportsCredit Risk

Top tips for manufacturers on managing credit risk

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

AutomationCash Flow

Why you should monitor your customers

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

Credit Risk

How construction companies can mitigate credit risk

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

Credit RiskCreditorWatch

How to mitigate credit risk

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

Credit ReportsCredit Risk

How manufacturers can use credit reports to avoid risk

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

Credit ManagementCredit Reports

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

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

Bankruptcy

How to reduce your exposure to bankrupt customers

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

Credit ManagementCreditorWatch

How to check a business's credit score

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

CrewWatchMeet the Crew

Meet the Crew: Srijana Maharjan, Back-End Developer

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

Monitoring and Alerts

Why you should monitor your customers' payment behaviour

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

CreditorWatch

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

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

Credit ManagementCreditorWatch

Watch out for these 10 red flags of financial distress

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

CrewWatchMeet the Crew

Meet the Crew: Alex Crawford - Senior Sales Analyst

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

Business Risk IndexCreditorWatch

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

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

Credit ManagementCredit Reports

Why wholesalers need to credit check their customers

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

CreditorWatchCrewWatch

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

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

Credit RiskCreditorWatch

Credit risk challenges for fintechs

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

Chief Economist
Economic Snapshot

RBA raises official cash rate to 1.35%

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

Credit ManagementCreditorWatch

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

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

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.

CreditorWatchCrewWatch

Meet the Crew: Brendan Sherry - Senior BDM

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

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.

Credit ManagementCreditorWatch

How to protect your small business from fraud

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

Credit RiskCreditorWatch

How logistics companies can speed up debt collection

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

Chief Economist
Credit RiskCreditorWatch

ABS Business Conditions and Sentiments

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

CrewWatchMeet the Crew

Meet the Crew: Michael Wang - Data Science Manager

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

Credit ManagementCredit Reports

Five reasons to integrate your accounting package with CreditorWatch

Are you making the most out of your CreditorWatch subscription? By now, you already know how CreditorWatch strengthens your credit risk management processes. Here’s a tip to improve this further – integrate your Xero or MYOB accounting package with CreditorWatch.

CreditorWatchDebt Collection

Debt collection challenges faced by the construction industry

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

Business Risk IndexChief Economist

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

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

CreditorWatchMeet the Crew

Meet the Crew: Sean Deng - Front End Developer

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

helping hands
CreditorWatchData

What Causes Bad Debt?

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

Chief Economist
CreditorWatchEconomic Snapshot

Wage Price Index and Westpac Consumer Sentiment

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

CreditorWatchEnd of Financial Year

EOFY Survival Guide 2022

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

CreditorWatchCrewWatch

Meet the Crew: Gabriel Asatryan - Data Analyst

What do you do at CreditorWatch? I’ll be part of the new Business Intelligence team helping with the quarterly BRI and reports for internal stakeholders.

BankruptcyCredit Management

Understanding Bankruptcy

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

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
CreditorWatch

RBA increases cash rate to 0.85 per cent

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

CreditorWatch

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

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

CEOExperts

Podcast: What makes a great place to work?

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

CrewWatchMeet the Crew

Meet the Crew: Justin Meyers - Head of Commercial Sales

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

CreditorWatchCrewWatch

Meet the Crew: Isabelle Holland - QLD BDM

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

Credit ManagementCredit Reports

How is a credit score calculated?

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

helping hands
ExpertsInsolvency

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

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

CreditorWatchMeet the Crew

Meet the Crew: Hana Le - Accounts Receivable Officer

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

Credit RiskCreditorWatch

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

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

Credit ReportsCredit Risk

How to manage credit risk in the construction industry

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

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.

CEOChief Economist

Podcast: Dire Warnings for the Australian Construction Industry

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

Cash FlowCreditorWatch

How sole traders can use data to power their businesses

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

two men shaking hands with a small toy house in the background
ConstructionCreditorWatch

A guide to using property and land title reports

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

AutomationCredit Management

How automation has enhanced credit risk management

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

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 Risk IndexCreditorWatch

BRI April 2022 - Industry Insights

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

Business Risk IndexCreditorWatch

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

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

Credit RiskExperts

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

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

CreditorWatch

Meet the Crew - Ealise Wang and Siwei Mu

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

Chief EconomistCreditorWatch

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

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

CreditorWatchNews

Inflation - the dark and stormy cloud

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

Credit ReportsCreditorWatch

Understanding Business Credit Reports

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

Credit RiskExperts

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

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

Best Places to Work
CreditorWatchGreat Place to Work

CreditorWatch makes 2022 AFR BOSS Best Places to Work list

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

ATOCEO

CreditorWatch now collecting ATO tax debt default data

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

ACN (Australian Company Number)COVID-19

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

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

Credit ManagementCredit Reports

How lenders can enhance their credit decisioning with CreditorWatch data

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

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.

Business Risk IndexCreditorWatch

Industry Synopsis CreditorWatch's March 2022 Business Risk Index

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

Business Risk IndexCreditorWatch

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

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

Credit RiskDebt Collection

How to improve the quality of your ledger with DebtorLogic

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

Economic Snapshot

Economic Snapshot Update

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

CreditorWatchPPSR and PPSA

Why searching the PPSR is important for business

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

CreditorWatchMeet the Crew

Meet the Crew - Ellie Kiumarsian

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

CreditorWatchMeet the Crew

Meet the Crew - Adam Bailey

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

Economic Snapshot

Federal Budget: innovation agenda will drive future spending

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

CreditorWatchExperts

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

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

CreditorWatch

Everything you need to know about the new mandatory Director IDs

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

Due DiligenceExperts

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

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

Cash FlowCreditorWatch

How to protect your cash flow and get paid faster

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

CEOCredit Risk

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

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

CreditorWatchTechnology

Going deep on customer due diligence with Infotrack searches

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

Case StudyConstruction

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

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

Business Risk IndexCreditorWatch

Industry Synopsis for CreditorWatch’s February 2022 Business Risk Index

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

Business Risk IndexCreditorWatch

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

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

CreditorWatchNews

What can subcontractors do if a builder enters voluntary administration?

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

Meet the Crew

Meet the Crew - Matthew McMaster

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

CreditorWatchMeet the Crew

Meet the Crew - Robert Lettieri

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

Man standing in front of an Australian construction site.
CreditorWatchNews

Probuild collapse; involvement in tragedies like this can be avoided

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

Chief Economist Harley Dale
Economic SnapshotExperts

The RBA won’t budge in the current environment

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

Business Risk IndexCreditorWatch

Economic Update - January 2022 Retail Sales

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

Credit ManagementCreditorWatch

An Introduction to Financial Risk Assessments

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

CreditorWatchEconomic Snapshot

Economic Update - Quarterly Wage Price Index

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

Credit RiskCreditorWatch

How credit scores help businesses manage the impacts of Omicron

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

Chief Economist Harley Dale
CreditorWatchEconomic Snapshot

Harley's Economic Update

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

CreditorWatchRisk Management

Seven reasons why small businesses should use accounting software

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

Chief Economist Harley Dale
CreditorWatchEconomic Snapshot

Harley's Economic Snapshot - February

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

Business Risk IndexCOVID-19

Industry Synopsis for CreditorWatch’s January 2022 Business Risk Index

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

Business Risk IndexCreditorWatch

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

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

Credit RiskCreditorWatch

How to take your credit checks to the next level

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

CreditorWatchPayment Defaults

Why you should register payment defaults in 2022

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

CreditorWatchEconomic Snapshot

Economic Update with Harley Dale

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

Credit ManagementCreditorWatch

Preparing your business for the challenges of Omicron

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

AutomationCredit Risk

How can you know which companies to do business with?

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