Overview

CreditWorks Data Solutions Limited launched the CRISworks commercial credit reporting system in 2003 to facilitate better credit decision making processes, through use of a positive data, real time, comprehensive credit reporting database.

The CRISworks system concept came about following several high profile company failures in the building and construction industry, coupled with the time consuming and costly process of obtaining trade credit references, which often could prove to be unreliable.

CRISworks specializes in commercial (company) credit reports, although we do provide consumer / sole trader credit reports via our partner, Centrix.

WHO would benefit from subscribing to the CRISworks credit reporting system?

Any business that extends credit to another company or individual on a regular basis would experience the benefits of the CRISworks system facilities. The benefits range from the ability to monitor your existing customers real time, to providing the ability to credit check new customers using a comprehensive data set to ensure you make the RIGHT decision.

WHAT benefits can I expect from joining the CRISworks commercial credit reporting system?

  • Access to trade credit financial history and payment performance on an up to date basis. Our Code of Conduct requires regular provision of Aged Trial Balance data, which, when uploaded to the system, is then published on a consolidated basis, giving you an overview of payment performance.
  • Ongoing monitoring of your ledger against the NZ Companies Office for any changes in a company that could influence your decision to continue trading with them. We monitor the Companies Office every few minutes, and identify any changes to a company’s Status (eg in linquidation, in receivership, removed from Register), and where you have a debtor in your ledger for that company, we will notify you by email immediately.
    Where a company’s name changes, which COULD forewarn you of a potential liquidation, or prompt you to update your account details for the correct legal entity, we will notify you by email.
    When a Director resigns, we will notify you in case you need to obtain a new Personal Guarantee.
  • We monitor your ledger for any new collection agency Defaults.
  • We monitor your ledger for any High Court or District Court Judgments against a company.
  • You can access credit reports on any Director of a company, with our CompanyXtra service, via our consumer data partner, Centrix.
  • You can receive details of any Public Notice relating to a company you deal with.
  • You can receive Debtor Notifications whenever any of our other subscriber’s submits a Debtor Notification for account parameters such as Stop Credit, Bad Debt Writeoff, Legal Action, etc.
  • Access to CoreLogic property Ownership reports for company or Director property ownership details.
  • Access to Australian company credit reports via our partner, (creditor)watch
  • Access to self  PPSR registration, or full management of the PPSR process if required.

When do I start seeing the benefits of joining the CRISworks credit reporting system?

IMMEDIATELY!

As soon as we have received your customer list, and aged trial balance, and data matched it to our database, we will start monitoring your ledger for the alerts previously mentioned.

Additionally, you have access to the CRISworks system 24/7 via your web browser, to enquire on any new or existing customers, and get a comprehensive credit report detailing the account payment performance; details of any adv company history (such as Stop Credits; Judgments; Defaults; or Insolvencies).

Plus we provide you with our CRI (Credit Risk Indicator) that provides you with a numeric indication of the risk level in dealing with a company, based on several pertinent parameters.

Where do I see the benefits of my CRISworks system membership within my business?

Forewarned is forearmed. The benefits are evident via a reduced loss ratio, better paying customers, and early warning and detection of potential problems that may affect your ability to get paid on time, or at all!

WHY should I choose CreditWorks Data Solutions CRISworks for my credit reporting solution?

  • New Zealand’s most comprehensive, positive data, commercial credit reporting database, hosting over $1.7b of payment performance history, to give you a succinct view of a company’s payment history.
  • Real time interfaces to NZ Companies Office; Centrix Default data and Personal Properties Securities Register
  • Online access Corelogic Property Ownership reports.
  • Online access to Australian (creditor)watch company credit reports.
  • Subscribers to CRISworks (and data contributors) range from some of New Zealand’s publicly listed companies; finance companies; large businesses in a diverse range of industry sectors, through to SME (small / medium businesses).
  • Very competitive Pricing
  • Help and advice instantly at hand if needed,  for any credit oriented query. Upon calling you get to immediately speak to a real person!

HOW much does it cost?

  • Pricing for the various monitoring and reporting services depends on the size of the business and your likely usage. However all our pricing is very competitive for the market, and is primarily costed on a “User Pays” basis. So you only pay for the benefits! Talk to us direct and we will tailor the right deal for you.

HOW do I get started?

  • Call us on (09) 520 0626
  • Call Alan Johnston on (09) 520 8133 or (0274) 893 393.
  • Email alan.johnston@creditworks.co.nz
  • Contact us via the Contact Us page on this website.