In this blog, we will look at what Debt Collections is and why it is so important. What is Debt? Debt is money owed to another. This debt could be unpaid bills or invoices for goods and services, repayment of a financial service or money loan, or overdue sums for a range of obligations such […]
Take a look at our esteemed panel of judges, experts in their fields and advocates for the Credit and Collections Industry. Have you entered yet? If not, you have until 22nd September to submit your entry – don’t miss out of winning a category at the industries flagship event.
If you are currently using CICM Knowledge Hub for CPD records or are part-way through a programme, ensure you have downloaded any CPD records and any pieces of work completed to personal files and make a note of your progress so that you can continue your studies at the right point on our new version […]
We recently hit a 13,000 milestone on LinkedIn! To celebrate, here are 13 Best Practices in Credit Management and Collections. Have a Credit Policy Emphasise the importance your business places on managing financial risk by setting out your policies and procedures in a Credit Policy, which is made available to all staff. Having a […]
In today’s business environment, uncertainty is one thing we can take for granted. Soaring prices caused by high inflation and a tightening lending market all serve to put pressure on household and business finance alike. With customers facing increasingly difficult choices about who they can afford to pay, it’s vital to make sure that […]
Assessing Creditworthiness A Credit Controller are responsible for evaluating the creditworthiness of a potential or existing customer. They analyse data from sources such as credit reports, company accounts and past payment history, and use this to determine appropriate limits, control measures and payment terms. Credit controllers will make recommendations based on their findings. Credit Policies […]
TCN 2023 Consumer Survey Reveals Nearly Three-Quarters of Consumers Will Abandon a Brand After Just One Bad Customer Service Experience UK, London/Midlands, Bucharest, Romania and St. George, Utah, USA – June 28, 2023 TCN, Inc., a global provider of a comprehensive cloud-based call centre platform for enterprises, contact centres, BPOs, and collection agencies, has released […]
Global public borrowing has been increasing around the world. With an ageing population in many countries and the hangover of COVID-19, many Governments are taking on more debt to support their economies and healthcare systems. So, with public borrowing at a record high and experts predicting a continuing trend, it is important to understand […]
The future is never certain, but trends and patterns in today’s industry give us good insight into possible direction. So what are the predictions for the credit management and collections industry for 2024? More Technology One of the most significant trends in the credit management and collections industry is the increased use of technology. […]
If you are in a position where you are considering legal action, this blog aims to explore some CICM best practice tips around the legal process to better inform your decision-making and knowledge on the processes involved. Legal action for unpaid invoices Before starting the process to recover unpaid invoices through legal action, make […]
