Do you do a credit check on customers before you do their quote? What does this cost you? If you don’t check them, then there is a good chance you are spending time and resources on a quote for a business with a bad credit rating, so is this time well spent?
If you have creditor insurance and check your customers against them, how easy it? Can you check on your computer and within seconds or minutes see a complete background on the directors of the company seeking an account, or simply chasing a quote?
FTMA Australian members have for many years raised the issue of builders going from one fabricator to another racking up debts before going belly up. It doesn’t seem right that your company ends up propping them up financially whilst you hit cash flow problems!
At the 2017 FTMA National Conference, Gordon Porter of CreditorWatch offered a great deal for FTMA Members but this has been superseded with an even better one. The new deal will ensure you can not only manage your own customers but through the special FTMA Connect site on the CreditorWatch website, members will be linked allowing you to see bad debtors of other FTMA Members.
This will mean you will have the heads up when a new builder walks through the door or calls chasing a quote.
There are a wide range of other services that come with the CreditorWatch FTMA subscription that includes:
- Monitoring of all existing customers
- Look ups of credit reports on existing and new customers
- DebtorLogic Plus –Trade payment information
- Bankruptcy information on all credit files
- Credit Scores
- Unlimited defaults
- Payment Predictor
- Fixed price for 2 years
- Access to CreditorWatch connect (Connecting FTMA Members)
- Debt collection tools
We will be contacting all members regarding this service over the next few weeks as we are keen to see if this is a tool that most fabricators want.
We already know the benefits and members have provided numerous examples of how the system saved them from bad debts and gives them confidence in what they are doing.
This could be the game changer we are looking for to ensure you get paid for the work you do and keep your cash flow healthy. Money is always better in your bank!
If you are not a member and want to see how this program can work for you please give me a call on 0418 226 242 or email me via kersten@ftma.com.au.