In a bid to help the cash flow of small businesses, and reduce the number of outstanding payments across the country, some of the biggest suppliers to the UK government have committed to paying more invoices on time.
Calling your clients and confronting them with invoices that have not been paid can be hard. But in some cases we have to face the facts: the client just isn’t planning on paying anytime soon – if at all.
The European Commission has launched a new online tool that offers credit management professionals access to data across borders. The data available can help companies to determine whether a potential business partner is dependable.
An ambitious credit manager wants to achieve maximum results – results that are made visible through a number of measurements and metrics. Daily measurements from your credit management environment, showing the financial health of your receivables portfolio.
Whether you’re setting goals in your personal life, or in a credit management function, it’s very important to track progress. Check out five reasons why goal setting can lead to better performance.
Credit professionals need to be sure to pay close attention to policy, processes, and controls to ensure the O2C is running smoothly, efficiently and in a way that ‘s compliant with all relevant regulations.
For those in the credit and collections industries, it can be a challenge to keep up with new regulations and requirements. Check out these three new bits of legislation that you’ll want to start preparing for as soon as possible:
The CICM and FSB created a new guide, titled Managing Cash Through Brexit. In the guide, you’ll find a series of questions to help assess your company’s current risk profile, and it offers a list of ten tips to help manage cash.