Balancing Credit Risk and Growth in an Economy Hit by COVID-19
While people across the globe are strained personally as well as professionally trying to deal with the crisis at hand, the businesses are wrestling with the possibility of recession in 2020.
According to Moody’s Analytics, the chance of a US recession this year lies between 33% to 49%.
With new businesses at a stand-still and the future uncertain, a lot of companies are turning to accounts receivable to collect the money already owed to them while keeping a close eye on the new deals or orders.
At this point, the onus lies on you as a credit professional to understand and predict customer behavior in order to take proactive actions ahead of time. This panel discussion explains some key tools and techniques you could leverage to double down on any business opportunity while maintaining a close watch on the risks involved.
- Red flag indicators to monitor including payment trends or history of UCC and lien filings
- Tools that you could leverage to verify data accuracy and timeliness
- Critical changes in credit policy like defining portfolio-specific terms and conditions
- Tips to prepare for worst case scenarios such as Force Majeure Clause or Bankruptcy
RecordedApr 28 202060 mins
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Fererro’s remote-working collaboration framework for A/R, A/P, and Treasury teams
Enabling A/R digital transformation for working capital optimization
A/R and Treasury automation use cases every finance leader should know about
As finance and treasury professionals are adjusting to the new remote reality, every company is undergoing some form of disruption. The global pandemic has a near-term and medium-term impact on all aspects of cash management especially accounts receivable. The question is- how could AR, AP, and treasury teams collaborate today to get paid and optimize working capital in the midst of extremely volatile market dynamics.
Join this session to learn how Ferrero’s key focus areas in response to the COVID crisis such as customer satisfaction, CFO’s visibility into working capital reports, and much more.
Kay Rogers, North America Financial Transactions Director at Ferrero, would share how she has leveraged technology to take better control of their cash conversion cycle and optimize working capital in the present day scenario.
Strategies to tackle emotional and professional challenges specific to millennials and Gen Z
Tips to make the best out of technology to track and have visibility into employee productivity
Guide to set the right expectations and smooth acclimatization of Gen Z to remote-working
Let us all address this. The new work environment in which we all started on a high-note a few months back, expecting more relaxed hours of sleep by ditching travel and dressing time has slowly started to take its toll on us. While it may not be severe for more established professionals, the millennials and Gen Z might be at a disadvantage. Because offices often serve as a key for younger workers to socialize and network.
An April 2020 survey from the enterprise achievement platform Smartsheet produced the surprising top-line finding that 89% of Generation Z and 91% of millennial workers reported difficulties in working from home as a result of Covid-19.
At this point, for a business leader to cope with the current situation and to ensure employee welfare, it goes without saying that the solution is beyond simply connecting people and teams through video-based technology. To be effective, people need to stay deeply connected to their work and the work of their teams. They also need context, structure, tracking, and visibility into their work.
Join this panel of finance leaders as they share their insights on how they are handling the challenges of remote-working while working with a diverse workforce comprising millennials and Gen-Z talent.
Identify quick-win tech to deploy in 2020 across the finance function to secure outstanding receivables, reduce credit risk and reduce cash forecasting unpredictability
Leveraging AI, ML, and NLP technologies to help identify opportunities, streamline manual processes, and make data-driven business decisions.
A new framework for finance leaders to explore technology adoption during the heightened pressures on working capital and cash optimization
Amidst this uncertain economic climate, cash is definitely the king, companies are glaringly missing technology focused on driving working capital and cash flow optimization. Join this session with Laurent Gueritaine, Global Process Owner - Customer Invoicing to Cash at Sanofi alongside Jacob Mathew, Vice President at Warner Bros. Entertainment Group of Companies sharing their views on how you could restructure your finance tech stack to address the rising pressure on cash and help you understand how you could accelerate the recovery in the aftermath of this crisis by investing in Digital Transformation.
Learn how E-payments adoption can facilitate faster cash conversions
See how a customer-centric approach along with automation can deliver high value for your internal and external stakeholders and help you sail through the volatile economy
Automation Feedback and the plan for the future: American Greetings Strategy for the next normal
While working under the mandate to streamline and maintain the flow of business amidst this unstable economy. It has become very essential for finance leaders to strike a perfect balance between customer satisfaction and fostering automation technologies for faster cash conversions. Witness this session with Lauren Kennedy, Senior Manager, Retailer Financial Services at American Greetings talk about the major roadblocks that they had to face while dealing with different customers, her experiences of how has automation helped them fast track processes and their future plans of improvement.
If you are an A/R leader at a fast-moving, high transaction volume business like CPG or Pharma - improving dispute resolution productivity and recovery could help you put money back into your company’s cash flow.
The current business scenario is accentuating the deductions challenge as suppliers and A/R teams report quickly evolving buyer fulfillment terms, increased claim volume, and ever-changing trade promotion strategies.
In this session, Kim Erickson, Founder, and Principal Consultant at Optimize Consulting will share how best-in-class A/R teams tackle deductions (to improve efficiency and employee satisfaction) and walk through a specific process and automation best-practices to identify, research and resolve.
Best practices to prioritize deductions based on the nature of the dispute, resolution bandwidth allocation and recovery risk
Live preview of plug-and-play automation for the real-time aggregation of claim and delivery information from customer and carrier/transport portals and websites
Live preview of AI-powered HighRadius solution to predict dispute validity with 95% accuracy - to focus your teams on deductions with a higher likelihood of being invalid
Even with the advent of this uncertain economy, business priorities are more or less still the same, it's just the criticality that has changed. The need for the hour is flexibility/agility for businesses to adapt to the new economic environment. Few challenges such as maintaining cash flow, minimizing risk with new opportunities, flexibility of IT stack to support any changes, and transitioning back to the normal could be really disturbing for your clients right now.
Join this session with Tanmay Mehra, Senior Solution Architect at HighRadius highlighting how HighRadius Credit Cloud can ease these challenges just by the virtue of being very modular and configurable. This will not only ensure minimizing the risk with new prospects but also regulate the existing clientele.
-Automatic creation and updation of the credit scoring model for evaluating the credit-worthiness of a customer
-Automatic prediction of blocked orders along with release recommendations
-Worklist prioritization based on workflow types along with real-time agency alerts
-On-the-fly change to the frequency of credit assessment based on the risk class of the customer or changing customer behavior
Then vs. Now - Red flag credit risk and receivables metrics that are more relevant today than they were a month ago
Tools that you could leverage to verify data accuracy and timeliness
Critical changes in credit policy like defining portfolio-specific terms and conditions
With cash flow being the prime focus amidst these turbulent times, in order to gain more control and visibility over receivables, finance leaders are giving greater emphasis to conducting customer portfolio analysis and re-evaluating their credit policies.
Join this panel of credit experts from leading credit bureaus namely Credit Safe USA and Credit Risk Monitor as they share their insights on tracking leading credit risk metrics to enable a predictive scoring model that is more relevant and other customer analysis tips for risk mitigation.
Ellen Cnudde, Senior Consultant at EY; Andreea Popescu, Senior Manager of Advisory Services at EY; Elaine Nowak, HighRadius
If you believe that COVID-19 is likely to have a negative impact on the global pace of digital transformation, 73% of the CXOs from a recent survey by IDC would beg to differ. Order-to-Cash and Finance leaders understand the need to leverage technology today more than ever in order to improve remote workforce productivity, forecast cash accurately and gain visibility and control over their global receivables. More often than not, however, digital initiatives within Finance functions are scattered across siloes, limited in scope and do not have an overarching strategy which is critical to the success of any digital transformation project.
In this webinar led by Ernst & Young in collaboration with HighRadius, we are going to discuss these challenges. We aim to provide some insights for Finance leaders and professionals of what they should be mindful of when building their own digital transformation strategy for A/R and Finance. This aims to be an interactive session where we share what leading organizations are doing in the Order-to-Cash space and what would be a typical approach for a digital transformation project, along with breaking some myths and providing recommendations on how to tackle those during and post- COVID era.
-When defining the end-state for your A/R for the next 3 to 5 years, what can you expect?
-Suggestions for creating a step-by-step digital transformation plan that addresses workforce management, process change and technology implementation challenges
-Analyzing the common causes of failure of transformation projects for Finance, and enabling finance leaders to plan proactively
Mike Holden will cover the basics of Arizona lien, bond and notice statutes that all material suppliers and contractors must be aware of in
order to secure payment rights. This session is a precursor to his Advanced Arizona Lien Law session 2303
Electronic signatures, documents and even notary services are moving
to center stage. Are you equipped with the knowledge to understand
how to use these tools safely? Don’t take chances, learn this emerging
area of the law now.
These seasoned collection industry veterans will share expertise in extracting money from difficult debtors. In this session, they will offer tips, tricks of the trade, and insights that collection industry professionals use.
Linda Lei GPO, Customer Payments and Deductions and Homer Smith GPO, Credit and Collections
Uber, a master of B2C sector has succeeded in setting up the OTC from scratch. The GPO’s dilemma with day-to-day challenges such as evaluating shared services vs outsourcing, various technology vendors is an interesting ride to join. In this session, Linda and Homer details his experience of prioritizing the tasks, planning the next steps properly to set up an OTC globally from scratch
Elaine Nowak, Director of Product Management and Marketing at HighRadius
From remote workforce management to changing internal approval processes and leveraging new technology, order-to-cash leaders have been strategizing continuously to run business as usual despite the global pandemic. With businesses looking to return to their offices slowly, do you think the A/R operations would need to undergo a change? Do you think you would be able to work like you are doing right now?
HighRadius has been speaking to many of our clients in the Fortune 1000 space, closely observing how they pivoted in the face of the COVID-19 crisis and what are the changes that they are looking to make as we slowly start going back to normal. Join this session led by Elaine Nowak, Director of Product Management and Marketing at HighRadius to get summarized learnings and action plan that we have created for A/R leaders based on recommendations captured from industry experts.
Looking back: How Ricoh, Ferrero, HPE and others pivoted their A/R operations amidst the pandemic
Five things that should be on your to-do list as a credit and A/R leader returning to the office
Creating a long-term action plan for the post-COVID era, focused on internal and external stakeholders for order-to-cash
Bill Sarda, Manager - Solution Engineering, Strategic Accounts at HighRadius
Join this session as Bill Sarda, Manager - Solution Engineering, Strategic Accounts at HighRadius shares insights on adapting faster invoicing and payment collection tactics to provide better customer service and gives a sneak peak into the EIPP Cloud to show you the features of Self-service customer payment portals and other relevant functions for today.
Best practices to lower your invoicing costs by 70% with automated invoice transmission
A sneak peak into the HighRadius EIPP Cloud, and deep-dive into features most relevant for the current times
Know how American Greetings derived 40% E-adoption within the end users in a year
Improving Order-to-Cash with technology, best practices, and AI
Learn how companies are improving their credit, collections, cash application, EIPP, and deductions management processes for faster and more efficient order-to-cash management. Subscribe for the latest content updates.
Balancing Credit Risk and Growth in an Economy Hit by COVID-19Dan Meder,Experian| Michael Flum,Credit Risk Monitor| Dustin Luther,CreditSafe| Eric Kider,Infogroup| Ian Thompson,S&P Global[[ webcastStartDate * 1000 | amDateFormat: 'MMM D YYYY h:mm a' ]]60 mins