Webinar originally aired February 2014. Join Encompass and special guest Steven Gladman, partner at Hall Chadwick as we discuss the challenges facing the insolvency industry and practical tips you can use to leverage technology to gain an edge.

2. Innovation in Insolvency
Welcome to
Encompass “Innovation”
Webinar Series
2014

3. Our Guest Speaker
Steve has been a member of Hall Chadwick
for over 15 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

4. Our Recent Whitepaper
Reshaping
Insolvency
Released in December 2013 this
white paper is based on our
assessment of the current
challenges impacting the insolvency
industry and aims to provide some
pertinent solutions to overcome
these challenges.
www.encompasscorporation.com/reshaping

5. This Webinar
• A brief industry snapshot
• New developments in
2014
• Industry challenges
• How to overcome these
challenges?
• Is technology the answer?

6. 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

7. Industry Snapshot
ASIC Insolvency Statistics by Industry Type
September - December 2013
Other (business &
personal) services
623, 11%
211, 4%
118, 2%
134, 3%
124, 2%
179, 3%
1714, 31%
Construction
Accommodation & food
services
Retail trade
261, 5%
260, 5%
Manufacturing
428, 8%
458, 8%
990, 18%
Transport, postal &
warehousing

8. New Developments in 2014
• The Insolvency Law Reform Bill
Introduced in December 2012 effectively
implements reforms previously proposed in the
2011 for “modernisation and harmonisation of
the regulatory framework applying to
insolvency practitioners in Australia.”
• 1 January 2014
New processes stipulated by ARITA now
require insolvency practitioners to submit a
formal engagement letter to the directors of the
company.

9. 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.

10. 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.

11. 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

12. 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

13. 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