2. “I am a child of the 50’s and 60’s and yet still
a child today, unbound by time, yet excited
and mesmerized by its irresistible movement
and effect”
(Edward Pacey)
3. Come gather „round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You‟ll be drenched to the bone
If your time to you
Is worth savin‟
Then you better start swimmin‟
Or you‟ll sink like a stone
For the times they are a changin‟
(Bob Dylan)
4. “Provide the Company with a quality
credit/business management service
designed to create, stimulate, expand,
secure and support business opportunity
and profit”
TO ACHIEVE THIS YOU MUST BROADEN ACTIVITY, DELIVER REAL CHANGE AND
INFLUENCE DECISION-MAKERS WITH TANGIBLE POSITIVE RETURN . DELIVERING
JUST WHAT YOU ARE ASKED FOR IS NO LONGER SUSTAINABLE
5. Here and Now
• Refined scorecards –decision in • EDI and electronic invoicing
seconds (globally) • Client order processing cuts
• Few (no)cheques, electronic disputes by 80% - fewer in
payment, direct debits or dispute management
secured instruments – less • Electronic movement of default
reliance on dunning process accounts for third party
• Automated payment collection – no in-house legal
technology team or collections
• Paperless environment and • Global credit and risk – from
electronic delivery one location
• Automated CM reporting • Team of 2 instead of 12
• Wireless applications & • Process not finance driven role
connectivity • Automated database analysis
• Bespoke CM software and behaviour
6. Traditional delivery and measures
• Establishment of new accounts and maintenance of
existing credit limits
• Debt recovery (DSO), (CEI) (PDD) query resolution and
cash forecasting
• Security and SOX compliance
• Risk monitoring
• Continuous review and development of processes and
procedures
• Sales support
• Adherence to deadlines
• Strong team management
• Management reporting
• Bad debt as % of sales
7. • “In order to be successful, credit
management must offer a
competitive, selling, commercial and
financial advantage”
• “Establish what the customer needs are and
then focus the activities of the whole
company to provide these at a profit”
8. Essentials and Characteristics
• Company • Client relationships
structure, history and • Credit economics
aims • Business and culture
• Competition • Commercial/Business
• Industry sector understanding
knowledge • Financial services
• Market – volatility and • Leadership
behaviour
• Visibility and participation
• Client strength and
vulnerability • Bending the rules
• Frontline involvement • Confidence – to question
and challenge
• Raised Credit profile
• Entrepreneurial spirit
• Respect, trust and
integrity
9. Developing activity
• Portfolio and database management/analysis
• Marketing and Customer services
• Outsourced services and value add
• Due diligence - merger and acquisition
• Business and financial services
• Market and Industry research and review
• Business creation and opportunity
• Process automation
• Selling...?
10. Recognise Business Opportunity (that‟s under
your nose)
• Work your database to the full to increase customer breadth
• Continually refresh and increase your client database
• Evolve into an informative conduit for client information back into
sales and marketing
• Target Sales in maximising the opportunity you create and develop
• Follow through and monitor pick-up and incremental business
• Actively market the value-add you offer and consider ways to
encourage business activity
• Recognise and understand your own company‟s position and
intentions – participate and make yourself aware if not directly
invited
11. September 2020
There are those that
watch things
happen......
Those that make things
happen……
Those that wonder what
on earth happened......
Dictate change to
ensure your future
