Welcome to 2018! We’ve got some exciting developments coming this year, in addition to the release of NCIRadar 2.0 we’re expanding our commercial collections footprint in New Zealand
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It seems as though implementation of the Government’s plan to release information on defaulting tax debtors to credit reporting bodies has been delayed yet again.
Initially, the understanding was that the ATO would start to make this information available in July 2017 although it was later reported that the start date could be as late as January 2018. But, with the enabling legislation only released in draft form on 11th January, the ATO’s best case scenario currently appears to be for a ‘soft launch’, involving only a small number of company debtors, around the middle of this year.
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Once a credit account is set-up, ongoing monitoring is crucial
I would like to take this opportunity to remind you about the importance of monitoring your debtors. Preventing bad debts is a much better business practice than trying to recoup lost money in additional sales. If you would like more information on how NCI can help in this area, speak to one of our account managers directly or visit nci.com.au/radar.
See an article from Kirk Cheesman, our Managing Director, published in the October AICM Magazine.
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The importance of monitoring your debtors
How often does your business undertake credit checks on existing customers or revisit their ability to pay? We continue to receive more enquiries about our alerts and monitoring system, NCIRadar. We aim to alert you early so you can make informed decisions and potentially avoid a bad debt.
With nearly half of SMEs having more than $20,000 in overdue invoices tying up their cash flow, business owners must be more proactive in mitigating the risk of late payments and bad debts, writes Damian Arena and Kirk Cheesman.
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We have released our latest NCI Minute – Have a look for information on NCI, tips for compliance, world risks and more
To view, click here.
See our NCI Minute for some updates in the trade credit industry.
To view, click here.
The ultimate protection against bad debts, where you have your debtors insured against the risk of insolvency, protracted default or political events.
Extends from credit analysis and limit assessments to monitoring reports and tailored credit management. NCI Credit Services is there to assist you in...
Our specialised committed and commercially orientated collection team is there to collect your outstanding monies, with the skills to preserve...
