As we enter 2025, it’s clear that businesses need to be more proactive than ever when it comes to managing overdue debts. The start of a new year offers a chance to reset your financial strategies, and getting ahead of collections now can make all the difference for your cash flow throughout the year. Late payments are still on the rise, and with insolvencies continuing at a high rate, there’s no time like the present to tackle overdue accounts head-on.
Reflecting on 2024, we saw a concerning trend: late payment days climbed significantly, putting added strain on businesses across industries. This increase in overdue accounts placed more pressure on cash flow, leaving many businesses scrambling to adjust. It’s a clear reminder that being passive about collections just isn’t an option. If businesses wait too long to act on overdue debts, they risk unnecessary financial strain.
In exciting news, NCI has acquired a 40% stake in EFCIS, a UK-based specialist Trade Credit Insurance broker. This strategic partnership strengthens our ability to offer global trade credit solutions, providing expert credit risk management across multiple regions, including the UK, Asia Pacific, and Oceania. EFCIS, established in 1999, has built a strong reputation for tailored credit risk solutions, helping businesses of all sizes trade with confidence.
The new year is a great opportunity to strengthen your credit management strategies and set your business up for success. Whether you’re looking to refine your collection processes or gain deeper insight into risk management, we’re here to help.
Let’s make this year one of resilience, growth, and confidence in your credit management strategy!
Kind regards,
Zara Mends
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