New CreditWorks system welcomed

Media Release
For Immediate Release
10 September 2003

New CreditWorks system welcomed

New technology allowing the building industry to sort out who has bad debt has been welcomed by the President of the Wellington Registered Master Builders Association, Mike Fox.

“This is another step forward in professional management for the building industry,” Mike Fox said.

“By having a real-time credit watch system, we can make sure that some of the less than satisfactory operators in the industry cannot get supplies on credit which they can never pay back.

“Untrained and under-capitalised developers have been giving the whole building and construction industry a bad reputation, and this new system will allow suppliers and creditors to make informed decisions before they make any commitments.”

Credit Reference Industry Solutions (CRISworks) has been developed by CreditWorks Data Solutions. It was launched on Friday by the Minister of Commerce, Hon Lianne Dalziel. They are currently hosting a road-show around the country, outlining the new system to the building industry, which will be in Wellington tonight.

“This is a very positive step for the whole industry, the new technology will allow the information to be at your fingertips. It will also mean that the industry will have to work together to ensure that the data is complete,” Mr Fox said.

With CRISworks being launched, and the Building Bill at the Select Committee stage, builders, suppliers, and the general public will be safer, and covered from all angles.

ENDS

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