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What an interesting space the economy and insolvency cycle is at… for the moment. It highlights how important it is for a business to have robust credit management processes and tools to ensure it minimises the risk of a customer’s non-payment or being caught by a bad debt.

Astute Credit Managers are a key part of any business in setting up the right credit management processes to minimise such risks to their business. From establishing a new credit account, to collecting vital cashflow and following up overdue accounts, the Credit Managers in the current environment should be given… well… more “credit” for what they do.

Prevention is the best defence in avoiding bad debts. Considering all the recent stats and uptick of overdues, collection actions and insolvencies, now is the time to put some time aside to consider your processes in minimising the risk of a bad debt.

Read the Credit Managers Superhero article here.

Kind regards,
Zara.