Are you concerned about what the future holds for your cash flow?
Switch On Your Cash Flow is an essential guide to credit management strategies which put business relationships first and help to mitigate bad debt risk.
Credit Management Guide
Why read this book?
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Allianz Trade released its latest Global Insolvency Report on 18th October 2023 and unveiled updated forecasts for 2023 and 2024. According to the world’s leading trade credit insurer, after a small rebound in 2022 (+1%), global insolvencies are set to jump by +6% in 2023 and +10% in 2024.
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In a report entitled, Time is Money: The Case for Late Payment Reform, the FSB exposes the insufficient measures in place to hold big businesses to account and calls for a level playing field for smaller firms with 52% experiencing late payment and 25% reporting an increase late payment.
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Small and medium sized businesses (SMBs) are currently owed an average of £27,214 in late payments according to new research from Intuit QuickBooks, as SMBs estimate one in six invoices (17%) with customers or suppliers are overdue.
If you trade on credit terms, then credit risk and fraud are challenges you face everyday.
Things will get worse before they get better, but you can prevent your business from suffering irrecoverable losses.
No matter what trade or sector you’re in, a poor payment culture exists in the UK (and elsewhere in the world). Business owners and credit professionals at all levels need to be able to implement and administer well designed strategies to minimise payment delays, prevent bad debts, reduce credit risk and fraud, all while supporting sales and business growth. Switch On Your Cash Flow will help you to create a number of strategies to do exactly that. No matter what field you are in, from bookkeepers to credit managers, this book will help you to minimise the likelihood of bad debt.
Who is this book for?
- Business owners, directors and credit professionals.
- Those responsible for making tough decisions on credit risk and strategy.
- Those dedicated to business growth while taking calculated risks.
"This book will help you implement the processes and tools required to facilitate growth, improve cash flow and ensure the safety of your business."
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I first worked with Karl when I was MD of an international debt collection agency and it quickly became clear that working within someone else’s business was never going to form part of Karl’s long-term plan.
Having gained wider experience in the InsureTech world, I was delighted to see Karl launch his own debt collection agency as he seeks to transform the way commercial debt collection is undertaken.
A wise man once said Knowledge is Power and this guide will take you through the essentials of control, collection, protection and financing of business receivables at a time when more than ever a business needs to look after its most important asset to secure a long-term future.
Implement the strategies in here and know you have done all you could, but, if you still end up with problem payments? Well then, a call to Ko-Bolt is probably next on your to-do list.
It's a good read Karl and it will be used to help train new staff in my team as well as help more experienced ones to refresh gaps in knowledge. I think anyone working in credit needs to see this and add it to their own library of guides and reference pieces. Well done Karl, a lot of time and effort clearly has gone into this.
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