Date post: | 08-May-2015 |
Category: |
Technology |
Upload: | encompasscorp |
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Download: | 6 times |
What Sources Do You Rely On?
Poll: What sources do you rely on to get relevant industry information?
Our Guest Speaker Steve has been a member of Hall Chadwick for over 20 years. As a specialist in corporate insolvency Steve is a highly regarded practitioner due to his: • Strong understanding of legal
requirements and processes • Experience in solving the financial
problems of many businesses in a wide range of industries
• Ability to see the big picture to give valuable, considered advice
Steven Gladman Partner, Hall Chadwick
Getting To Know Our Audience
Poll: How long have you been involved in your current industry?
Released in December 2013 this white paper is based on our a s s e s s m e n t o f t h e c u r r e n t challenges impacting the insolvency industry and aims to provide some pertinent solutions to overcome these challenges.
www.encompasscorporation.com/reshaping
Reshaping Insolvency
Our Recent Whitepaper
This Webinar
• A brief industry snapshot • New developments in
2014 • Industry challenges • How to overcome these
challenges? • Is technology the answer?
Industry Snapshot 2013 Number of corporate insolvencies: • December 2013 2552 • December 2012 2618 • Fall of 2.5% Business size: • SMB with less than $100,000 assets
and less than 20 staff Number of registered liquidators: • 681
Industry Snapshot
1714, 31%
990, 18% 458, 8%
428, 8%
260, 5%
261, 5% 179, 3% 124, 2% 134, 3% 118, 2% 211, 4%
623, 11%
ASIC Insolvency Statistics by Industry Type September - December 2013
Other (business & personal) services Construction
Accommodation & food services Retail trade
Manufacturing
Transport, postal & warehousing
Insolvency Challenges
The industry seems to attract some criticism: • Perception of client’s being overcharged • Media and government scrutiny The above have a significant impact on the reputation of an insolvency practitioner as well as the entire firm.
Insolvency Challenges
What do you feel are the
biggest challenges faced by practitioners today?
Insolvency Challenges
What critics do not take into account: • Complexity and unpredictable nature
of the job
• High exposure to personal risk and liability
• No guarantee of fee generation from insolvency jobs
• Delivering high quality of work - consistently
All of the above have a significant impact on the reputation of an insolvency practitioner as well as the entire firm.
Insolvency Challenges
Poll: What do you consider to be the greatest industry challenges?
Is technology the answer? • Fast and accurate curation of
information for further analysis where required
• ‘All encompassing’ document that consolidates various reports and allows drilling down
• Easy collaboration and workspace sharing with a simple ‘copy/paste/email’ action
• Storage of documents for fast and easy accesses and reference throughout the job
Overcoming the challenges • Seeing the full picture to
identify risks and opportunities at a glance
• Multi-dimensional view of commercial information
• Timely communications
• Compliance and due diligence
• Speaking in a language that is easy to understand for stakeholders at all levels
Hall Chadwick Experience
“Using encompass has increased search efficiency and smoothness” Dave Kennedy – Intermediate Accountant
Hall Chadwick Partner Benefits
“The Encompass pla7orm has provided ease in incorpora9ng search results into our inves9ga9ve reports and improved efficiency by a ‘one stop shop’ for our search requirements”. Steve Gladman, Partner
Visualisation Can Help
“With Encompass I was able to accurately understand the entire context of the situation. By seeing the full picture, I uncovered critical links that I may have otherwise missed” Mario Christodoulou - Researcher ABC Four Corners