The Drinks Association welcomes CreditorWatch
The Drinks Association is thrilled to welcome CreditorWatch as an Associate Member.
CreditorWatch helps companies better understand who their debtors are. It offers credit management tools and credit risk information on any entity in Australia. Its products and services enable users to perform due diligence and determine risk to their business.
"We’re really looking forward to being more involved in the industry as a supporter and speaking to people outside of our usual contacts in finance and accounts receivable," said CEO Patrick Coghlan.
"Immersing ourselves in an industry allows us to better understand what is working, what isn’t and where we can help."
The drinks industry was one of the first industry verticals that CreditorWatch targeted when it launched, due to the high credit risk that its customer base poses.
"As a result we have over 100 manufacturers, suppliers and distributors from your industry using us," Coghlan explained. "This includes everything from smaller distributors or new distilleries up to the biggest names in the business.
"Our recent Risk Report identified the hospitality industry - cafes, restaurants and bars - as one of the riskiest industries to trade with as a supplier. Our unique data insights and best in class technology will assist members to quickly identify high risk customers and mitigate credit risk."
Coghlan added that there are three attributes that make Creditor Watch stand out from the crowd.
"We have made credit reporting accessible for businesses of all sizes, from sole traders all the way up to Big Four banks," he explained. "We also specialise in capturing unique data from sources not utilised by others in the industry. And technology and automation are at the core of everything we do."
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