The cost of living crisis
The cost of living crisis is having massive impacts on the credit management and collections industry. With prices on the rise and bills increasing, your teams need to be prepared for the next challenge that faces them.
On the 18th August 2022, UK inflation rose above 10% for the first time in 40 years. Today, In the modern day of credit, you need to be ready for tomorrow.
Take a look at our tips and training to help prepare credit teams for the cost of living crisis
Training and Tips to help credit management teams in the cost of living crisis
Know your customer
With the cost of living crisis affecting more of your customers, knowing your customer has become even more critical.
Gain insight into the concept and adoption of the ‘know your customer’ principles, address each of the main profiling topics and how to use and build the profile with each customer connection.
Best practice skills to assess credit risk – Training starts on the 24th of October
The cost of living crisis is increasing risk in your portfolio. Make sure you know how to assess and manage that risk.
Identify and support vulnerable customers
Financial Vulnerability is on the rise. Make sure you can identify and support your customers.
Effective communication in the credit role – Training starts on the 5th of October
With customers and clients tackling the crisis, you need to have the best communication skills.
We have our next session running on the 5th of October.
Best practice approach to collections
With cost of living on the rise, you can’t simply collect cash like you’ve always done.
Make sure you are trained to deal with the new challenge and ensure you are following the best practice approach to collections.
It is impossible to predict the future. But, it is possible to be prepared for it. Get trained by the leading, globally recognised professional body in Credit Management and guarantee your teams are ready for the next challenge.
Take a look at all our training and sign up for your next session today.