The Business Guide to Credit Management: Advice and solutions for cash-flow control, financial risk and debt management (Business Guides)

Contents......Page 8
List of Contributors......Page 17
Foreword by Miles Templeman, the Institute of Directors
......Page 22
Preface by Philip King, the Institute of Credit Management
......Page 24
Introduction......Page 26
Part 1: Back to basics
......Page 28
1.1 Keeping control of your cash flow 
......Page 30
2. Fund invoiced sale......Page 31
5. Management information and constant attention......Page 32
What does good look like?......Page 37
What behaviours do we see in underperforming companies?......Page 38
How do we change behaviour?......Page 39
What are we hoping to see from this change?......Page 41
Do you have the courage to make change happen?......Page 42
Cash flow and its importance......Page 44
Credit control......Page 45
Personal relationships......Page 46
The roles of staff and management......Page 47
Payment practices......Page 48
1.4 Paying on time is good for business – the prompt payment code
......Page 51
Part 2: Improving cash flow
......Page 56
2.1 Preventing slow payments: do not suffer in silence
......Page 58
How to improve cash collection......Page 59
Summary......Page 62
Introduction......Page 64
Bill payments......Page 65
Best practice guidelines......Page 68
Note......Page 71
Introduction......Page 73
A unique bind......Page 75
Analysing the risk......Page 76
Buy ‘results’......Page 77
Introduction......Page 80
Debt sale and purchase......Page 81
The collectors......Page 82
Petition......Page 83
Collectability Index......Page 84
Conclusion......Page 85
2.5 An introduction to debt sale and purchase
......Page 87
Market development......Page 88
The sale process......Page 89
Regulation and treating customers fairly......Page 90
The future......Page 91
Part 3: Innovation and success in managing credit
......Page 94
3.1 Proactive credit management is key for successful customer relationships and business continuity
......Page 96
Profitable credit management......Page 97
What priorities are required: eight tips......Page 98
Conclusion......Page 105
Introduction......Page 107
Better practice in financial ratings......Page 108
Summary......Page 111
3.3 The new ways to contact debtors......Page 114
Why choose voice messaging?......Page 115
Promise to pay – making them count......Page 116
Welcome calls – the credit process starts here......Page 118
Summary – new contact strategies......Page 119
3.4 An overview to improving cash flow
......Page 121
Approach and scope......Page 122
Collection strategy......Page 123
Debt recovery......Page 124
Successful outsourcing......Page 125
Your CV......Page 127
Job hunting......Page 128
The interview......Page 129
The wait......Page 131
Recruiting staff......Page 132
Background......Page 135
Procedure......Page 136
Power and responsibility......Page 138
Additional services......Page 139
Conclusion......Page 140
Part 4: Customer management
......Page 142
4.1 Soft debt collection – collecting money without alienating your customer
......Page 144
Surely I can do this on my own?......Page 145
Process......Page 146
Soft debt collection in practice......Page 147
Summary......Page 149
Introduction......Page 151
Know your customer......Page 153
Solutions to help you manage credit risk......Page 156
Conclusion......Page 157
Introduction......Page 159
Outsourcing solutions......Page 160
Litigation......Page 161
Notes......Page 164
The problem......Page 165
Does the debtor have a valid dispute?......Page 166
Give yourself priority status......Page 167
Avoid wasting money......Page 170
Part 5: Credit management for export markets
......Page 172
5.1 Cross-border debt recovery – breaking down the barriers
......Page 174
The EOP procedure......Page 175
Execution of an EOP......Page 176
Advantages and disadvantages to the EOP......Page 177
5.2 International credit management and debt collection – the use of technology in debt collections
......Page 179
Risk assessment......Page 183
Methods of payment......Page 184
Summary......Page 189
Notes......Page 190
Appendix I – Risk assessment in selected export markets
......Page 191
USA......Page 192
Germany......Page 196
The Czech Republic......Page 199
Brazil......Page 202
Russia......Page 204
India......Page 206
China......Page 208
Saudi Arabia......Page 210
Australia......Page 211
South Africa......Page 214
Appendix II – Contributors’ contact list......Page 217
Index......Page 223
Index of advertisers......Page 225