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 [BTA] recognises organisations that implement innovative technological solutions for new and existing business needs.

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

The Australian Business Awards are an annual comprehensive awards program which recognises organisations that demonstrate the core values of business innovation, product innovation, technological achievement and employee engagement via a set of established business and product award categories.

The Australian Business Awards are the national chapter of an integrated, hierarchical leadership initiative conducted on a national and international level. Eligible organisations are invited to participate in the international chapter of the program at The World Business Awards whereby participants are provided with the unique opportunity to benchmark themselves against the top performers globally.

The process culminates in the selection of organisations which implement world-class business initiatives, projects, products and services. The award recipients are recognised as the elite of their industry earning a place amongst a distinguished group by having their achievements acknowledged and celebrated.

Organisational eligibility includes private companies, publicly listed companies, multinational subsidiaries, not-for-profit organisations, non-government organisations, educational institutions, franchise systems, partnerships, government departments, government agencies, local government and statutory bodies operating in Australia.

Organisations are required to complete a submission for a specific business initiative, product or service.

Business initiatives can include but are not limited to projects, programs, processes, systems, technologies, developments, ventures and undertakings.

Products can include but are not limited to services, devices, equipment, programs, processes, activities, applications, information, knowledge, software, cloud-based services, platforms, systems and manufactured goods. Products must be commercially available on the Australian market and comply with all applicable Australian standards and regulatory requirements. Product eligibility includes domestic and international products available to the Australian marketplace.

The World Business Awards Framework (WBA Framework) is utilised as a structured model of assessment that enables the participating organisations to be benchmarked against world class performance standards.

The Framework consists of specialised assessment modules pertaining to the evaluation criteria for each of the award categories. The criteria and sub-criteria provide a robust set of requirements that are used as the methodology for benchmarking and learning among the participating organisations.

Organisations that demonstrate the core values of business innovation, product innovation, technological achievement and employee engagement are recognised via a set of established business and product award categories.

The program provides a notable opportunity for high-performing organisations which implement world-class business initiatives and develop innovative products and services to be acknowledged and celebrated for their achievements both nationally and internationally.

Conducted annually, the program engages with organisations worldwide to benchmark the full spectrum of their products, services and initiatives and to review their business performance through a global recognition and knowledge building initiative that is underpinned by the program’s established framework.

The program provides the ultimate platform for building knowledge, increasing brand awareness, equity, loyalty and retention through increased exposure, recognition and prestige.

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.

Patrick Coghlan, CEO, CreditorWatch