article thumbnail

Looking ahead: 2024 predictions for the Credit Management and Collections industry

CICM

So what are the predictions for the credit management and collections industry for 2024? More Technology One of the most significant trends in the credit management and collections industry is the increased use of technology.

article thumbnail

13 Best Practices in Credit Management and Collections

CICM

To celebrate, here are 13 Best Practices in Credit Management and Collections. Have a Credit Policy Emphasise the importance your business places on managing financial risk by setting out your policies and procedures in a Credit Policy , which is made available to all staff.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Becoming successfully data-driven in credit management

On Guard

Credit management has undergone a significant transformation in recent years. Whereas credit management was previously seen as the back office’s grab-can, today it is an essential part of an organisation’s financial strategy. But data-driven working within credit management is not easy to achieve.

article thumbnail

Accounting in Credit Management: Why is it Important?

CICM

Why Accounting Matters to Credit Professionals Accounting and credit management are closely interconnected, with the principles of accounting providing the foundation for effective credit management strategies. The course covers the core accounting principles essential for effective credit management.

article thumbnail

Sustainable credit management: working together for the future

On Guard

Credit management, a term often associated with the finance department, turns out to be a dynamic process involving several departments within an organisation. Let’s face it, manual credit checks and invoice processing can be time-consuming and error-prone. Think sales, marketing, customer success and IT.

article thumbnail

What is Credit Management and How do you do it well?

CICM

What is Credit Management? Credit Management is the strategy a business uses to safeguard its investment in its customers. When an organisation lends goods, services or money to others, the credit management function makes sure their transaction with that customer is safe and profitable.

article thumbnail

Data-driven credit management software for customer segmentation

On Guard

Using credit management software makes it possible to bring together all customer information and generate a comprehensive customer profile. Read further and discover how Visma | Onguard’s credit management solution can help your organisation streamline its customer journey. Credit management software solutions 4.