CreditorWatch – PPSR Logic
CreditorWatch – PPSR Logic has been selected as an ABA100® Winner for Business Technology in The Australian Business Awards 2019. The Australian Business Award for Business Technology [BTM] recognises organisations that implement innovative technological solutions for new and existing business needs.
We are honoured to accept the 2019 ABA100 Award for Business Technology, in recognition of our innovative, new platform, PPSR Logic. Our customer-centric focus and dedication to innovation have helped us to produce a product that has not only simplified the way in which Personal Property Securities are registered, but we have also made it accessible to businesses of all sizes. The PPSR is notorious for being difficult to understand and use, as such many businesses struggled with or avoided it altogether. We’ve also found that while larger organisations had some knowledge of PPSR, most small and medium businesses were left in the dark. CreditorWatch recognised the gap in the market and the need to make PPSR accessible and affordable. Through rigorous testing and customer feedback, we created PPSR Logic. Many thanks to our amazing team who worked hard to make this happen.
CreditorWatch is an innovative and customer-centric commercial credit reporting bureau, empowering users to perform due diligence and determine risk to their business. With over 50,000 customers who range from sole traders through to ASX listed companies, CreditorWatch offers credit management tools and credit risk information on any entity in Australia (including sole traders, trusts and partnerships). The CreditorWatch online platform and additional integrated products and services, enable customers to save time and make affordable, informed credit decisions.
CreditorWatch reports aggregate data from multiple sources including the Australian Securities and Investments Commission (ASIC), the Australian Business Register (ABR), Australian Financial Security Authority (AFSA), Australian Courts, mercantile agents (debt collectors) and information captured from our extensive database of users.
Since CreditorWatch began in 2011, over 13.5 million credit reports have purchased, over 10 million credit reports were views and 1.05 million alerts were sent in 2018. CreditorWatch has seen continuous staff growth with over 70 staff working across Sydney, Melbourne and Brisbane.
In addition to a large focus on assisting Small business and SMEs, CreditorWatch has developed a product suite designed for enterprise customers. CreditorWatch includes credit reports, credit scores, monitoring and alerts, the ability to lodge payment defaults, debt collection tools and Xero/MYOB integration. In addition, customers have the opportunity to switch to online credit applications through Apply Easy. Enterprise customers can see how their debtors are paying others through DebtorLogic Plus and identify phoenix activity through cross directorship alerts. In addition, they can access up to 4,500 additional searches and services. Business automation is available through CreditorWatch API integration. Enterprise customers can perform datawashes, auto-purchase reports, build their own credit reports and more.
The Personal Property Security Act (2009) has been changing the way that people manage their security interests. However, the Personal Property Securities Register (PPSR) has been challenging registrants since it was introduced in 2011. Just before the seven-year anniversary of the first registrations and a massive influx of expirations, CreditorWatch introduced PPSR Logic. This innovative platform allows customers to integrate their CreditorWatch data. The platform is designed so that customers could create, manage, renew and amend registrations in an easier, cost-effective and time-friendly manner.
PPSR is a vital component of doing business in Australia. It is something that every business should be doing to protect their security assets. Yet, so many do not register or register incorrectly. CreditorWatch is seeking to change the landscape with PPSR Logic. Not only does PPSR Logic make things easier for customers, but it also allows for more automation and data. Aside from Credit reports and monitoring, it is already seen as one of the most useful and innovative products for creditors.
For more information on PPSR Logic go to ppsrlogic.com.au