Giving insolvency practioners the tools they need for further transparency and accountability

Industry wide, there is much debate and scrutiny around reforming insolvency laws, and the industry to ensure this sector is highly transparent and regulated

Due to the core activities needed to carry out their duties, the insolvency industry may have an unfortunate reputation to the wider community. However, in reality, Australia is far better served by its insolvency regime and practitioners than most give it credit for. Insolvency practitioners, certainly those belonging to their professional body, the Australian Restructuring Insolvency & Turnaround Association (ARITA), are among the most highly qualified in the world. They are also subject to some of the highest levels of professional accountability and scrutiny: public, legal and regulatory.

Insolvency practioners are on the front line, the in-betweeners as such for two parties who are at odds at a time of financial crisis and uncertainty. The more certainty that can be brought to processes and transparency, the more stability both parties will feel.

Transparent and concise archiving and records management for industry is just as important to demonstrate the credibility and accountability of the industry. The ability to clearly produce reports and cost breakdowns is an imperative part of this process.

Compu-Stor offers a robust information management solution that delivers efficient and time sensitive access to information, as its core allowing businesses and teams to more efficiently organise, operation and preserve information.

Compu-Stor Information Management Solutions comes with the unique online Complete Information Management System, or CIMS for shortCIMS has been developed in house by Compu-Stor to ensure the functionality and tools within it are meeting the needs of our customers. CIMS allows ultimate control of your records from PC, tablet or smartphone, with no need for additional resources, software or infrastructure costs. Customers can view and edit storage details, create work orders and generate reports, and view individual accounts and charges, all at the touch of a mouse.

CIMS lets multiple users for each customer log in at the same time, allowing you to vastly increase your productivity.

Understanding the need for insolvency practioners to report and measure on all aspects of their transactions, CIMs features a customised report that allows for all costs related to document storage and services to be broken down easily by administration, delivering a simple way of placing the costs in the right place without guess work. This is available in client reporting on CIMS so it can be run by the customer at any point.

Compu-Stor has designed CIMS to help our customers across a wide range of industries spend less time and resources on their data, imaging and records management functions, and more focus on their core business.