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CreditorWatch

By CreditorWatch
3.4 out of 5 stars
Perform credit checks on new customers, receive email alerts when customers get into financial difficulty and access debt collection tools.
Rated
3.4
out of 5
Reviewed by
11
Xero users
Listed for
9 years
March 2014
Key functions
Debtor tracking

Overview

CreditorWatch is an innovative, online commercial credit bureau. With over 50,000 customers and the ability perform a credit check on any entity in Australia (ranging from ASX listed companies to sole traders), we offer credit management tools and credit risk information. CreditorWatch enables you to stay on top of debtors with credit reports, credit scores, monitoring and alerts, and debt collection tools, including the ability to lodge payment defaults.

Streamline your credit management process by linking your Xero account with CreditorWatch. Your customers’ details will be matched to credit reports, highlighting adverse information that could impact your cash flow.

CreditorWatch
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CreditorWatch + Xero

Once your Xero account is integrated with CreditorWatch, the business name of your customers in Xero will be name matched to the correct ABN, ensuring that you know exactly who you are trading with. CreditorWatch will analyse outstanding debtors against their credit files, identifying those who pose the biggest risk to your business. With each new contact entered into Xero, CreditorWatch will automatically email you a credit report for that customer. When you view a customer’s credit file, the report will be enriched with Xero data so you can better understand how they have been paying you. Set up monitoring and alerts to stay ahead of slow paying debtors.

Reviews & ratings

3.4 out of 5 stars
11 Reviews

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Most recent reviews

BK
bryson knight
Posted 21 Jul 2022
1 out of 5 stars

False and Misleading Conduct

Do not trust the information provided by this company. There are no checks and balances in place and it would appear anyone can lodge a default without having to prove a thing. This company is damaging the credit rating and reputation of worthy businesses and should be investigated. That in it's self is a mind field even trying to ascertain who regulates this company.
GC
Glen Cherrett
Posted 6 Jul 2022
1 out of 5 stars
I am a hypocrite! I continue to use CreditorWatch despite having lots of problems believing their data. I have had huge problems with the interface with Xero. CreditorWatch shows details in accounts which are not mine. Several attempts have been made to correct this but we are now at a standstill with getting this corrected. CreditorWatch has had a ticket in their system for months to correct this and nothing has happened to get it sorted. I concur that CreditorWatch seems to favour certain customers and remove defaults without knowing the full story (or for that matter caring about the true story). In recent discussions with staff members of CreditorWatch they have conceded that they don't really know how their algorithms for setting credit ratings work and that this is outsourced and they don't have the right to check data or make changes. CreditorWatch is a data collector who don't have any control over how the data is collected and can have a major detrimental affect on your business.
CH
Cynthia Hawkins
Posted 27 Aug 2020
1 out of 5 stars
I don’t trust the credit reports provided by CreditorWatch. Twice, CreditorWatch has allowed a default to be registered on my client's report. The defaults are both factually incorrect and should be removed. However, no matter how thorough our communications and detailed evidence in support of this, they refuse to remove it because "the supplier said it correct". In other words, they are ignoring documetary evidence and harming my client's credit rating. In contrast, I have another client that listed a default which was true & correct, but when the customer called CreditorWatch, the default was removed, based on the customer’s word alone. This particular default was taken to the Magistrate’s Court, where the matter was satisfactorily settled. CreditorWatch should NOT have removed this default. By removing this default, other businesses were not made aware and may have been exposed to subsequent loss based on the potential inability to pay as well. What I’m trying to say here is that CreditorWatch does not have an appropriate process for examining defaults to accuracy. They should not be trusted as a credit reporting agency. They are acting as the judge, jury and executioner, with no checks and balances or fairness. If anyone else has had this experience, please comment as I am considering taking this further.

Additional info

Functions

Debtor tracking

Industries

Professional services

App details

By CreditorWatch
Added in 2014

Get started with CreditorWatch

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