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The digital revolution: Finech technologies to optimise your credit management process

On Guard

Which FinTech technologies are transforming the credit management process? Digital transformations: the future of credit management Big data & AI Expectations of big data and artificial intelligence (also known as artificial intelligence or AI) have been high for years.

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The Seven Habits of Highly Effective Credit Managers

Debt Recoveries

Hi, my name is Adam Stewart, Debt Collection Expert and owner of Debt Recoveries Australia. Since forming a debt collection company many years ago, I have had the opportunity to meet many small and medium enterprises (SME’s) and company owners and see how they manage their accounts receivable internally. Get trade references.

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How will Hunstein v. Preferred Collection & Mgmt. Impact The Collections Industry?

Credit Management Company

Everyone in the debt collection industry is familiar with the Fair Debt Collections Practices Act (FDCPA). Reputable collections agencies willingly follow these rules and treat patients with compassion and respect. Preferred Collection and Management Services, Inc. Now the FDCPA is in the news again.

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Driving the Future of Credit Management- guest blog by Laurie Beagle FCICM, Managing Director at Forums International Ltd

CICM

Are you prepared to increase credit limits? If you are Credit Insured have your insurers been reducing cover? How does this affect trading with your customer base? Revisit your collection procedures. Have you considered employing a Debt Collection Agency in the short term? What timescales should you apply.

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Avoid non-payment: Four ways to ensure your organisation gets paid

On Guard

Perform pre-sales credit checks to determine whether all the accounts are up-to-date, if it is an established company, and if this is a customer you would like to take on. Establish clear terms of trading Be sure to clearly communicate your terms of trading from the onset of the relationship, and that payments must be made within these terms.

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Preventing a crisis from becoming a catastrophe – by Sue Chapple FCICM

CICM

And as we all know, without credit, there is no trade. Without professional credit management support, and a key focus on collecting money that’s already owed, businesses will still struggle to survive, regardless of how many lifelines are being thrown their way.

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48% of Businesses see increase in late payments

UK debt collections

Clear evidence that the pandemic is fuelling a continual problem that blights trade. The New data supplied from cloud-based credit management platform, Know-it highlights that late payments remain an ever-present challenge for business owners. Late payments damage cash flow, restrict growth and can even present insolvency risks.