BPAY Banter Case Study

CheckVault was featured as a case study on BPAY’s Banter which provides news and insights into the world of BPAY payments. CheckVault uses BPAY and has been super successful in enabling our clients to make large payments with ease. Read the case study here to find out more. Or if you want to talk to one of our friendly staff at CheckVault use the ‘Chat with us’ tab on the bottom right of the CheckVault (www.checkvault.com.au) page or contact us 1800 CV AU LT (1800 28 28 58)

Numbers don’t lie – if you’re an unsecured creditor, the numbers aren’t pretty

ASIC recently released their corporate insolvencies report for the 1st July 2013- 30th June 2014 financial year. This report collects and summarises information on the lodgements made by liquidators, receivers and voluntary administrators (external administrators) in the financial year for businesses that went insolvent. It gives us an insight into the

  • number of businesses that failed
  • the size of these businesses
  • the reasons for them failing
  • how much unsecured credit was never paid etc.

If you wish to view this report in full, you can find it here. In this article, I will be looking closely at certain pages in this document and bringing them into discussion.

Read More

You don’t start a business to chase money

Why does one start a business? To make money of course.

But it’s also because you know you’re good at something and you want to offer these services to your community, country or even globally. And in return you receive a remuneration, most commonly in the form of money. But if you’re finding yourself worrying more about the money side of things, like chasing payments, doing court rounds because of a dispute etc., then there is something wrong in your invoicing methods/payments receivables department of the business which is preventing you from doing that very business. 

Read More

An Australian Startup Wants To Make Sure Tradies Never Go Unpaid Again

Not being paid for a job is a big problem Australia’s tradies have to contend with all too often and it’s something new Aussie startup CheckVault wants to stop.

Last financial year the Australia Security and Investment Commission found 9,500 Australian businesses had been listed as insolvent, racking up losses of close to $7 billion

Construction is one industry which has been particularly affected by this, making up nearly a quarter of the companies which have become insolvent… read more

Read the full article:

Business Insider Australia: www.businessinsider.com.au/an-australian-startup-wants…

What if you could ensure your clients pay on time?

CheckVault is a new independent escrow service that boasts a 100% success rate in getting payments made on time.

Not being paid for a job is a big problem Australia’s tradies have to contend with all too often and it’s something new Aussie startup CheckVault wants to stop.

Last financial year the Australia Security and Investment Commission found 9,500 Australian businesses had been listed as insolvent, racking up losses of close to…read more

Read the full article:

Business IT: www.bit.com.au/News/397881,what-if-you-could-ensure-your…

Sky News – Interview with Kieran Martin

A staggering $7 billion has been lost from Australian SME’s in the past year alone.  CheckVault is now battling the billion dollar bust.

Poor cash flow management is the leading driver of insolvency of almost 9,500 SME’s have become insolvent in the past year according to latest ASIC statistics. Sky News Small Business speaks with CheckVault’s founder, Kieran Martin to find out why and how CheckVault is helping to change this.

Watch the interview:

Too busy to chase the money?

Don’t leave chasing money until the end of December because you may have to wait even longer to get paid.

It’s the crazy time of year, where the work piles up and you end up delaying the invoicing and the paperwork for when you have time.

The last thing you want is to hit January with a lack lustre cash-flow, or even worse to discover that the person you worked your butt off for in December can’t afford to (or won’t) pay for your hard work.

Set yourself up now by looking at your contracts and look into escrow.

Read the full article:

SimPRO: http://simpro.co/blog/too-busy-to-chase-the-money/