Updated: August 12, 2020, for the June Quarter
First and foremost, we hope you are all well and are coping with this new environment we find ourselves in. The world has changed significantly -and in many ways forever – however it is in times like these that good old Kiwi resilience comes to the fore.
We, at CreditWorks, also see these circumstances as an opportunity. As previously advised, we have been working on a series of market analysis reports that we believe will help our clients better understand their debt ledger and the risks therein. This involves analysis around risk profiling, utilising data from our extensive database, called CRISworks.
Given recent Covid-19 events, we decided to accelerate our development of these innovations. We recognised the importance of getting this information to the market promptly, and regularly, so you can care for your ledger going forward, and understand where any threats may lie.
To this end, we can now give you the first update of our Market Analysis Reports which cover the March to May quarter. This can be viewed by clicking on the link underneath:
The initial report outlines the risk profile of 33 major NZ industry sectors. In other words, it answers the question, ‘What level of credit risk does this particular industry sector pose to me, as a supplier to that sector?’
This report presents a position as at the end of May for the May Quarter. These graphs will be updated and added to regularly, so you will be able to see the movement in risk profiles for each industry sector as their situation changes.
But wait, the best is yet to come……… clients of CreditWorks, that supply us with their Aged Trial Balance’s, can see an analysis of their own company ledger, showing the overall spread of risk, by utilising the same measurements as shown in the attached general graphs. In other words, we can help answer the specific question ‘How much risk of bad debt does my ledger pose to MY BUSINESS?’. Again, as the risk market changes over the next few months, we will keep clients informed of these changes, by giving them a valuable insight into the effect of these changes on their ledger, at no cost. Please note, however, that for us to provide this report, clients will need to provide their Aged Trial Balance information as soon as possible after the end of the month, otherwise the information will be outdated and irrelevant.
We hope you find these reports of value, which will give some cognisance to the old adage ‘forewarned is forearmed.’ We look forward to being of service to you now and in the future.
Be safe and look after one another.
From the Team at CreditWorks.