Economic & Trade Risk Insights
 

Protecting your company from late payments and customer defaults is essential. To do so, you should ensure you have an effective credit management policy in place. But what is credit management and what are its benefits? In this article, we take you through credit management step-by-step, from strategy to execution.

Anticipating the worst scenarios, starting with customer insolvency, is part of good credit risk management. And when risks materialize, the situation can quickly become dangerous without the right credit risk analysis and protection in place. In this article, find out what credit risk is, how to conduct a credit risk assessment and the best credit risk mitigation processes to follow.

​Does your business need credit control? Know our management, solutions, and services! A robust credit control procedure is essential for every business owner, whether large or small: effective credit control will get you paid faster, and that’s good for your business. What’s more, in promoting timely payments, effective credit control can help you to avoid expensive business debt collection proceedings or accumulating and writing off bad debts. But what is credit control and how to create a robust credit control system?

Recovering money that customers owe your company – known as business or commercial debt collection – is an unavoidable fact of business life. Doing it while maintaining customer relationships is the challenge. In this article, we review several business debt collection practices to help you manage your business risk.

Your business depends on receivables being paid at an agreed-upon time. However, if it becomes impossible to collect on those receivables, how are you going to deal with the bad debt that’s now on your books?

E-commerce has been growing steadily for the last few years, and has seen an explosion since the pandemic got in the way of face-to-face transactions. Customers now expect rapid online purchasing processes and delivery for all kinds of goods—from groceries to building materials. The businesses that are most likely to thrive in this environment are the ones who have a solid e-commerce solution in place.   Today’s B2B companies are also increasingly turning to e-commerce for its promise of broader reach and capacity to make lightning-speed transactions. But with these new online opportunities come new challenges. How do you safely extend credit to a new customer that you can’t even run a classic risk assessment on?   I often speak to clients who want to take advantage of the new opportunities presented by online trade, but that are mystified by how to navigate the added level of risk involved. While it is important to be aware of specific related risks, there are several solutions in place for businesses to safely explore e-commerce.