We would encourage all local accountants, financial managers/advisors, or local advisors on credit systems for businesses, lawyers and so forth to attend.
Is your credit control under control? In a 2023 annual survey of business-to-business (B2B) payment practices, a leading insurer found that half of all B2B invoices are settled late. With insolvencies at 120% of the pre-pandemic levels of 2019, the credit risk landscape in the UK and worldwide is deteriorating. In the current turbulent economic environment, robust credit control procedures are more important than ever. Our guest speakers, Tracey Westell of Pecunia 2016 and Hannah Lyon-Wall of FinCred will talk us through Credit Management 101 and cover the following topics –
Credit control is an essential function for any business that offers credit terms to its customers. By implementing effective credit control measures, businesses can improve their cash flow, minimize their exposure to bad debt, and build strong relationships with their customers.
A killer invoice is a well-designed, clear, and concise invoice that is sent to clients after services or product has been provided. It is the window into your business, demonstrating professionalism and ensuring you get paid and ultimately make a profit.
Credit risk is essential to consider as part of business risk management, but what is credit risk? Understand if your business is exposed to credit risk, how to carry out a credit risk assessment and customer credit check, and spot those red flags. Once you have assessed the risk, what mitigation options are available to your business?
Reducing expenses, increasing sales, and focusing on profit margins can improve cash flow. Improving cash management and understanding cash in-and outflows is a vital part of this process.
Late payments are the bane of every SME’s life. It cost small business owners ￡684m in 2022 and is increasing year by year. Use of insurance, small claims online, and the prompt payment code along with interest of commercial debts (interest) ACT 1998 with compensation.
We look forward to welcoming you! Please ensure you secure your space using the form below or call us on 01892 280000.
Tea and coffee will be served.
Spaces are limited