THE SOLUTION IS CREDIIBLE
Applications to open trade credit accounts have traditionally been processed manually using hard copy or, more recently, soft copy application forms, generally, completed by hand. The process is time consuming, inefficient and frustrating for both the applicant and the recipient with processing staff having, amongst other hurdles, illegible handwriting, incomplete or unsigned forms and missing support documents to contend with.
You can streamline your credit application receipt, assessment, decisioning and approval processes and better manage your customer acquisition function using our automated platform with Access Crediible.
Crediible is an end to end solution that automates the entire credit application process from potential customer application receipt and entity verification to credit reporting and decisioning all from one dashboard and control grid. Crediible is designed to help you process and approve credit applications much faster thereby improving credit risk, saving you time, improving workflow efficiency and enhancing your customer experience.
HOW IT WORKS
The process is simple. Potential customers complete an application form on your website. It’s customised for you with your branding, colours, questions and contact details.
We verify your applicants details in real time and ensure that they adequately accept your Terms and Conditions of Trade – using Online Signatures - if required.
Although it is not essential, most of our clients utilise our credit reporting and decisioning services. We are set up to obtain and display automatic credit scores and PDF reports from several leading Credit Assessment Bureaus. These are agreed in advance with you along with your acceptable scores and limits. We can set Crediible to automatically approve applications if they comply with profiles or you can manually approve all applications. We can also automatically process PPS registrations, again with pre-programmed profiles, if required.
Once completed and submitted, you will receive an email notifying you that the customer has applied to alert you to review, assess and approve the application and supporting documentation in your dashboard and workflow grid – or that it has already been approved if it complies with your preset approval criteria.
The applicant is kept informed by email as their credit application progresses.
There are numerous reasons why businesses decide to embrace the automation of their credit application processes including:-
- Improved workflow, better productivity and reduced labour resources
- Increased automation which helps to improve efficiencies and reduce errors and credit risk
- Enhanced customer experience - easier to buy from you and a shortened sales cycle
- Important data held centrally in one repository accessible to management / staff enabling visibility, monitoring and continuity when staff leave
- Streamlined and enhanced credit management processes to reduce staff frustration
See our Platform section for pricing details and to proceed to use Crediible in your business.
THE SOLUTION IS SiiP
The Personal Property Securities Act ("PPSA") was introduced on 30 January 2012. It brought about fundamental changes to the legislation governing the taking and granting of security in Australia.
The new legislation altered registration requirements for financiers and introduced the need to register for suppliers of goods sold on credit terms, subject to Retention of Title ("ROT"), and businesses that hire, rent or even lend assets / equipment to customers or third parties.
The PPSA presents huge risks for some businesses and provides valuable recovery opportunities, that weren't available before, for others. Access PPSR helps businesses understand how the PPSA affects them and how best to protect themselves (for hires) and how to take advantage of the enhanced rights available to them when they supply goods on credit terms subject to ROT.
Our expertise lies in putting in place the necessary strategies (and PPS registration profiles) to achieve the desired level of protection whilst minimising cost, business disruption and labour resources.
SiiP is our full service PPSR Portfolio Management System. It gives users visibility across all registrations and enables them to execute all PPSR tasks quickly, correctly and effectively.
SiiP allows users to process and manage their portfolio of registrations from creation (using pre-programmed registration profiles and grantor and collateral validation) through to renewal and discharge.
PPSR management using SiiP is effortless. It will help to reduce or eliminate registration errors, minimise the time taken to process registrations, alleviate the burden of registration on company staff and provide continuity if employees leave your business.
SIIP is also capable of bulk transaction uploads and exportable reporting downloads.
PPSR portfolios are visible through a unique, dynamically driven dashboard giving users an 'at a glance' appreciation of registration numbers and types, collateral classes, grantor types. The dashboard also provides an extremely useful snapshots of registrations due to expire.
See our Platform section for more information about SiiP.
We can analyse your registration portfolio and provide you with a report (and analysed dataset) outlining which registrations comply with your approved registration profiles and grantor identification rules and which do not.
Lynne Walton has provided a PPSR Analysis and Compliance Reviews to three major Australian banks and one large finance company so clients can be confident in a first class service.
The output is a comprehensive report (and analysed dataset) detailing the recommended action and transaction processing costs.
Where compliance issues are detected, our strong recommendation is to 'get it right' from today and then remediate any registrations, where possible, that support significant or high risk borrowing. Following the achievement of PPSA compliance, it is recommended that:-
- a reliable PPSR system like SiiP is used to process registrations correctly or
- ongoing compliance reviews are undertaken using a system like SiiP
Please see our Platform section for further details of SiiP's capabilites.
Your security interest and your ability to enforce your PPSA rights are dependent upon the quality of your Terms and Conditions.
We can assess these and provide a detailed report on which aspects may be deficient and suggest improvements as required.
Contact us for further details.
The introduction of PPSA has rendered this protection mechanism ineffective thereby placing assets at risk of seizure. To address this and reinstate the protection, a suitable operating lease between the entities and appropriate registrations on PPSR are required.
We offer this service as a package. Contact us for details.
• where a business is being sold, we can assist with providing evidence that the business assets are free of encumbrances
• where an asset is being purchased, sold or financed we can assist in demonstrating that it is free of security
In line with our unparalleled reputation for PPSA knowledge, you will have a free direct line to our specialist PPSA advisors with any legal, insolvency or other query you may have. Most of these can be answered immediately without the need for formal 'Time in Line' services.
Contact us for details.
ASSESSING WHETHER YOUR CUSTOMER IS LIKELY TO PAY YOU
We offer a number of credit assessment and debtors ledger risk assessment services in conjunction with our Credit Reference Bureau partners.
Contact us for details.
ESCALATING COLLECTION ACTIVITIES
We can assist you with debt collection in conjunction with our Debt Collection partners.
Contact us for details.