Call us: 03332 413 203 | E-mail: contact@cmgroupuk.com
Latest Credit Management News The impact of COVID19 has been significant in terms of credit management affecting all businesses and individuals alike. Many businesses have reported an increase in payment terms month on month. Recent data supplied by Creditsafe has shown that this may be on the road to recovery with Days beyond terms being […]
During 2018 we wanted to run a series of blogs that added value to your business. Our Commercial Credit Management factsheets can enable you to manage and run your Credit Management function better by implementing new processes and procedures. Our factsheets cover all aspects from onboarding of a new client to debt collection and even […]
Welcome to our February Credit Management News blog. We have given you snippets of the latest topics that we hope are of interest to you and provide information to help with your business. If there is anything you would like to see more of in our round ups from more Credit Management News to help […]
Here are our top credit management FAQ for the month of February. What credit risk assessment tools would you recommend when speaking to a prospective customer? There are a number of credit risk assessment tools available to you, none of which will guarantee that you will be paid but that will reduce the risk that […]
There are numerous ways that your business can improve payment performance; this improvement does not just apply to your credit control department but can span the entire order to cash process. How to improve payment performance: Due diligence Due diligence should be your first port of call when dealing with a potential customer; this will […]
It has often been reported on that late payments are the main issue for most small businesses, figures show that around 50,000 business failures in 2014 could have been avoided if all payments due were paid within 30 days. The majority of companies respect their suppliers and pay the invoices due in the agreed timeframe. […]
At this time of the year it is important to ensure all monies that are owed to you are received on time. December is known to be a short trading month so make the most of the days you do have by following some of our tips below: Day 1: Review your current performance The […]
Here are our top credit management FAQs for the month of October. How will I know when to put a customer on hold for non-payment ? Your decision to put a customer on hold for non-payment will depend entirely on your collection strategy. If you don’t have a definitive collection strategy in place, consider how […]
The latest figures released by the insolvency service show: Company insolvencies increased in Q2 2019 compared with Q1 2019 this was driven by an increase in creditors voluntary liquidations, Compulsory liquidations, administrations and company voluntary arrangements (CVAs) decreased in Q2 2019 Company insolvencies, in Q2 2019, increased to 4,231 (2.6%) its the highest level since […]
Welcome to our November Credit Management Industry News blog. We have given you snippets of the latest topics that we hope are of interest to you and provide information to help with your business. If there is anything you would like to see more of in our round ups let us know: CREDIT MANAGEMENT UK SME […]