Data matching, otherwise referred to as data-cleaning or entity verification, is the process of identifying the correct legal name and identifiers of any given commercial database, usually an ERP file of customer records or a debtors ledger.

Data matching is accepted as an important best practice and process improvement initiative within credit risk management by ensuring that you know who you are dealing with. Data matching facilitates accurate de-duplication or cross-analysis of common customers. One of the benefits is a reduction in external collection cost in the event of debtor non-performance.

Data-cleaning is also essential in the preparation of business files for the correct registration of interests on the PPSR.

Data-cleaning involves the matching of customer or debtor records against both the ASIC and Australian Business Register databases and third party databases.

This verification process authenticates the correct legal name and status of the company and appends the correct ABN and ACN or ARBN for each record.

PPSR is one example of an excellent reason to cleanse your customer database. However there are many other business imperatives to verify your customer legal entities including the need to facilitate system integrations, and the migration of platforms in the event of growth by acquisition.

For more information on the data matching solution that is right for your business, please contact us

Electronic Data Cleansing and Verification

Creditworks has developed leading edge data cleansing capabilities which enables large files, typically customer or debtor records, to be validated to confirm their correct legal name and legal identifier. The Creditworks solution is an advanced Electronic data-matching and ledger entity verification service which validates submitted data against ASIC, the ABRegister and ARBN databases. The system confirms the existence of a valid ABN and/or ACN and verifies the correct legal name corresponding to that identifier. Once matching has been completed the file is returned to the Creditworks client including the original and validated records to enable import back into existing legacy systems as required.

Ledger Cleansing Webmatch Portal

For large number poor quality files Creditworks can provide the unique option of the webmatch portal. The Creditworks web-matching portal is a hybrid semi – manual and electronic method of interactively matching records which cannot be matched during the electronic matching process. The fact is that some records can’t be accurately matched simply based on clever algorithms and need to be eye-balled and the webmatch system does this very efficiently.

Key features include the facility for multiple projects to be run concurrently, task allocation, performance and statistics analysis, as well as download and search capabilities. The system can also link to mail generation & phone systems for call centre follow up if required.

The WebMatch portal also links to the Creditworks PPS management portal so as to provide a seamless link between both solutions and a highly effective mechanism for registering and uploading large number of debtors onto the PPS in an accurate and efficient manner.

The Webmatch portal can operate multiple concurrent projects and also provides important statistics and summary tables assist management review and oversee the quality of the customer records – as well as those that may be potentially registered on the PPS.