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How do My Customers Pay Other Suppliers?
Knowing how your customer is paying other suppliers particularly over time is important for a credit manager. BICB provides that information.
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The Burning Question: ‘Will I Get Paid?’
The question front of mind for credit managers is: 'If I supply or deal with a company will I get paid?' BICB has the answer.
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‘Is This Business Safe to Deal With?’
One question a credit manager often considers, 'Is this business safe to deal with?' when receiving a request to trade from a new debtor.
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Advice That Got a Debt Paid
When one of our members sought advice about an unpaid debt, we were able to help.
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The Cost of Being Hacked
An email was intercepted between a tradie and a builder. An attached invoice from the tradie was doctored and $51K went to a hackers bank account.
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Record Increase for New Home Construction Loans
HomeBuilder provides consumer confidence to enter housing market.
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What is the Insolvency Risk Factor?
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.
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Extension to Temporary Protections for Financially Distressed Businesses – Is this just delaying the pain?
Financially Distressed Businesses As anticipated, the Federal Treasury announced on the 7th of September, that the temporary protections for financially distressed businesses will be extended beyond the initial six month period to 31 December 2020. Since the introduction of these measures in April 2020, the number of construction industry related insolvencies have decreased by 65%….
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BICB Partners with AMPAC Debt Recovery
BICB and AMPAC Debt Recovery recently meet to discuss the benefits of working more closely together to build greater awareness of each other’s services throughout the building and construction supply sector. This is timely, as the broader Australian economy has been impacted on several fronts recently by drought, bushfires and now COVID-19. It is expected…
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BICB Partners with Alares to Provide Access to Party Searches and Monitoring for most Australian Courts
Court action is a leading indicator of financial stress and future default. Alares Party Search provides real-time information on court actions across Australia. Alares Watchlist provides instant alerts for any court actions that occur involving businesses you are monitoring. From mid-May 2019 BICB members will have access to the Alares Party Search and Monitoring platform…
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Major changes to reporting requirements for QBCC licensees now in place
Changes to QBCC financial (effective from 1st January 2019) mean that licence holders in Categories 1-3 (turnover between $600,001 – $30,000,000) will need to provide reports annually about their financial position prepared under the Australian Accounting Standards including: – a profit and loss statement; – a debtors and creditors report; and – a statement of…
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BICB welcomes disclosure of business tax debts
