encompass & arita webinar: reshaping insolvency with hall chadwick

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