Credit Management January February 2024

More documents

Recommendations

Info

Within the intricate tapestry of modern business, the role of credit management emerges as the financial backbone of stability and growth. Its multifaceted responsibilities span the art of optimizing cash flow, mitigating potential risks, nurturing client relationships, and ensuring regulatory compliance. While outlining the key principles for successful credit collection may seem straightforward, putting them into practice becomes challenging when dealing with a large number of customers, accounting documents, internal and external contacts, and various digital portals. Credit managers handle crucial data for their work, requiring them to connect with diverse systems for invoice access, sales review, action tracking, and communication. However, at its core lies a critical element—efficient time management. This complex function not only consumes significant time but also hampers credit managers’ efficiency in addressing core job-related matters. Recent industry polls highlight a prevalent challenge: businesses struggle with time-consuming administrative tasks in credit management, hindering strategic growth initiatives. Customized digital solutions change the game for credit managers in today’s fast-paced environment. Innovative digital credit management solutions assess risk, resolve disputes, and seamlessly monitor performance. They transform the commercial ecosystem by promoting crosstouchpoint collaboration and efficiency. Timing isn’t just a factor; it’s the thread that weaves efficiency into credit management’s core, enabling companies to thrive. “the true game changer isn’t solely about aggregating data; it’s about the quality of that data“ Bertrand MAZUIR Founder of My DSO Manager Swift technology integration assures minimal interruption, employee engagement, adaptability, cost-efficiency, competitiveness, and speedy ROI, as well as time management. What sets innovative tech providers apart is their ability to sculpt platforms that streamline processes, automate operations, and provide real-time access to critical data. These solutions go beyond mere functionality; they become an indispensable tool, freeing up many hours for credit managers to concentrate on high-impact strategies, thereby elevating financial success. Real-time insights, another cornerstone of advanced solutions, offer a profound advantage. They help identify anomalies, such as incomplete client information or violations of credit policies. Integrating these insights reduces the time spent on manual error detection, leading to quicker and more informed decision-making. Bertrand MAZUIR Founder of My DSO Manager As the business landscape continues to evolve, the synergy between credit managers and bespoke digital solutions becomes the blueprint for sustainable financial growth and resilience in today’s ever-changing dynamics. Author Brave | Curious | Resilient / www.cicm.com / January & February 2024 / PAGE 58 However, the true game-changer isn’t solely about aggregating data; it’s about the quality of that data. Account receivables-related data in companies suffers from inaccuracies, leading to inefficiencies and potential risks. Premium digital solutions now identify these pitfalls, enhancing data quality and system settings. This overhaul empowers more automation, liberating credit managers to prioritize key talks and interventions. In essence, the digital revolution in credit management isn’t just a convenience; it’s a transformative force. By amalgamating efficiency, impeccable data quality, and real-time insights, these solutions transform the credit management era from a reactive to a proactive powerhouse.
MEMBERSHIP AND ACHIEVEMENTS Do you know someone who would benefit from CICM membership? Or have you considered applying to upgrade your membership? See our website www.cicm.com/membership-types for more information, or call us on 01780 722903 MCICM Graham Kingson MCICM Manpreet Rai MCICM AWARDING BODY Congratulations to the following, who successfully achieved Diplomas Level 5 Diploma in Credit & Collections Management MCICM (Grad) Toni West Danielle Barrow Gillian Brades Level 3 Diploma in Credit & Collections Lauren Daly Louise Close Ceri Edwards Chloe Smith Level 3 Diploma in Credit & Collections (ACICM) Craig Bishop John Brooker Nikki Carney Yuen Ting Chan Laura Cleaver Garry Gold Tracy Grimshaw Craig Healey David Johns Christina Ritson Chloe Savage Telford Whitfield Brave | Curious | Resilient / www.cicm.com / January & February 2024 / PAGE 59
Page 1 and 2:
CREDIT MANAGEMENT CM JANUARY/FEBRUA
Page 3 and 4:
SEAN FEAST FCICM MANAGING EDITOR Ed
Page 5 and 6:
CICM GOVERNANCE President: Stephen
Page 7 and 8: CREDIT MANAGEMENT A Decade of Excel
Page 9 and 10: CREDIT MANAGEMENT Unprecedented cha
Page 11 and 12: CREDIT MANAGEMENT pandemic and the
Page 13 and 14: CREDIT MANAGEMENT Author: Alexandra
Page 15 and 16: CREDIT MANAGEMENT The initial wave
Page 17 and 18: CREDIT MANAGEMENT DRIVEN TO SUCCEED
Page 19 and 20: CREDIT MANAGEMENT “That would hel
Page 21 and 22: Thursday 1st February 2024 Royal La
Page 23 and 24: CREDIT MANAGEMENT The added value o
Page 25 and 26: CREDIT MANAGEMENT With that being s
Page 27 and 28: CREDIT MANAGEMENT I think it’s re
Page 29 and 30: CICM Members’ Financial Support F
Page 31 and 32: Each of our Corporate Partners is c
Page 33 and 34: CREDIT MANAGEMENT Our shared object
Page 35 and 36: on Malaysia... Geography and demogr
Page 37 and 38: CREDIT MANAGEMENT It is generally b
Page 39 and 40: Exclusive CICM member benefits We t
Page 41 and 42: CREDIT MANAGEMENT Remote working ma
Page 43 and 44: 99% satisfaction and 9.3 net promot
Page 45: Chase the money THINK tank CapX det
Page 48 and 49: STATISTICS Data supplied by the Cre
Page 50 and 51: LOOKING FOR YOUR NEXT CAREER MOVE?
Page 52 and 53: HR MATTERS REASONABLE MEASURES The
Page 54 and 55: DIVERSITY, EQUITY, INCLUSION AND BE
Page 56 and 57: CICM TRAINING Training courses that
Page 60 and 61: Cr£ditWho? CICM Directory of Servi
Page 62 and 63: Cr£ditWho? CICM Directory of Servi
show all

Credit Management January February 2024

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?