making building industry credit decisions without the right data?
BICB has the building industry debtor database in Australia
As a BICB member, you’ll have access to comprehensive, up to date, factual credit information about entities that receive supply of goods & services on credit in the building & construction industry in Australia.
Members also have access to a large range of public record searches and a selection of advanced credit reports via the Online BICB Report Selection screen.
The Australian Government has announced the most significant changes to the Australian Insolvency framework in almost 30 years. These reforms have been proposed in an effort to support small business amidst the potential impact of COVID-19. The changes are proposed to take effect from 1 January 2021 and will affect incorporated businesses with liabilities of less than $1 million.
The Federal Government’s announcement that it would undertake the most significant reforms to Australia’s insolvency framework in 30 years is welcome news for many small businesses. For directors, it will be very important to carefully consider the information in the Government’s fact sheet outlining the reform process.
The Insolvency Risk Factor is the culmination of a major data analytics programme where court data was analysed against 10,000’s recent corporate insolvencies to identify the court actions most likely to lead to future insolvencies. The IRF provides a simple statistical measure of the potential impact of a company’s court actions. For example, a company with an IRF of 10 is statistically 10x more likely to become insolvent during the next 12months than a company with no court actions.
upcoming member meetings
"Our company has been a member of the BICB for over 10 years. A previous company that I worked for was also a member for approx. 15 years so my association goes back a long way. The benefits of being a member of the BICB is enormous. I simply couldn’t function in my role without it and it has saved our company many thousands of dollars in bad debts and legal costs over the years.
Their integrity cannot be questioned and I encourage all credit professionals to become members. Their data is accurate and timely which is what we need in this very challenging environment."
"We have been a member of the BICB for over ten years. Wayne and his team provide a welcoming environment. The credit information provided is timely, detailed and diversified so as to assist with determining risk levels.
The BICB covers national as well as Queensland based businesses and I would recommend the BICB as a great resource for all credit approval decision making."
There are many entities promoting their ability to provide accurate and up to date debtor information for the construction sector.
The advantage of dealing with BICB is that you will be notified the moment any debtor of yours changes their payment pattern. It is also possible to see where you are paid amongst their other creditors. From our experience, these features are an added extra from other providers.Our relationship with BICB is in its eighth year and their system of reporting enables us to make informed decisions at inception and any point going forward. We also recommend them for their consistent reliability and networking opportunities.
This video gives a quick overview of the Building Industry Credit Bureau and its industry leading members online system.
The online system provides accurate, easy to access credit information about building industry debtors.