Log in to CreditorWatch Portal
Go to CreditorWatch and sign in with your credentials.
PW: project@2
For a specific company to check,
Go to the CW Dashboard and enter the ABN (Australian Business Number) in the search bar to ensure the accuracy of the company being searched.
CreditorWatch also sends email notifications and alerts about company status updates, such as ASIC changes, ATO tax defaults, and risk score adjustments.
Through these emails, you can easily review updates for each company. If there are many alerts, you can open the attached Excel file to browse the full report and monitor all companies with major credit score changes.
Review Company Details
Verify the following information:
Credit Score & Risk Rating
If the risk score has decreased, investigate the possible reasons. Common causes include:
ATO Tax Defaults
Payment Defaults
Court Actions
ASIC Changes
Cross-Directorship Issues
Notify Relevant Teams
After investigating the reason for the credit score change, notify the Sales team, Logistics, and Management.
Pay special attention to DEBTORS, particularly those with active communication with the Sales team, ongoing projects, and outstanding invoice/s.
Update Internal Records and Apply Risk Controls
In the event of any significant negative updates from CreditorWatch, ensure you add a note in the Accounts Notes section of the company card in Salesforce.
For debtors whose risk score rating has dropped to D1 or below, and especially if they have an ATO Tax Default, change their payment terms to Pre-paid before dispatch. Continue frequent monitoring and provide regular updates to the team until the risk score improves.
Always include notes reflecting Management advice for proper guidance, as some issues may require further discussion and decision-making.