Credit management offers many hidden opportunities. The good news is that credit management does not have to be rocket science. Do you want to achieve faster payment of your invoices and strengthen your customer relationships? The right software will help you to enhance efficiency and gain maximum insight needed to achieve your goals.
Since a change in interest rates could affect whether or not your customers are able to pay their bills, interest rates are a risk factor that may need to be considered when extending credit or chasing up invoices.
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.