A 2019 Atradius report indicated that the insolvencies in the UK were supposed to reduce by 5% in 2020 however, as a result of the COVID-19 outbreak, the insolvencies are expected to increase by 2.4%. As situations around the world have changed, the Credit teams have quickly stepped into a high-execution mode for safeguarding the company against risks. While credit teams have done a remarkable job balancing credit risk in this volatility, it has highlighted the importance of ‘Resilience in Credit Management’ for finance teams.
Join experts from Siemens, CICM, Hanson UK, CCR Magazine & HIghRadius in a panel discussion as they discuss what an agile credit department looks like and the necessary steps to build up a resilient credit department to stay future-ready.
Key Takeaways:
1. Credit Management Plan v/s Actual for 2020: What has Changed
2. Framework to Build a Resilient Credit Management Process: Adapting to a Remote Working Reality
3. Role of Technology in Aggregating Real-Time Credit Data and Ensuring Proactive Financial Stress Alerts
4. Empathy in Collections: How to Ensure Maximum Cash Flow while Balancing Customer Relationship
5. Reporting - Are you Able to Flex and Adapt to Market Changes Overnight?