Credit, Collections & Insolvency News
Even before the Coronavirus pandemic, the economy was volatile and squeezed. Household debt in the UK was the second highest among the G7 countries, and people were borrowing to facilitate their lifestyles with few households able to save. There was an increase in buy now pay later mentality, a reliance on the bank of mum…
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Over the past year, Telrock Systems has promoted a series of articles covering the challenges facing the collections industry. In those articles, we have highlighted how omnichannel collections software-enabled systems can help your business rise to those challenges. The articles can be viewed in more detail at http://www.telrock.com/resources. They discuss how modern collections software systems,…
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2020 was certainly a year to remember, and will no doubt remain one of the most pivotal years in world history, indeed there was no part of the globe that was not affected by the Covid-19 pandemic, and more over there was no one who was not in some way impacted by the inevitable fallout…
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As the volume of customers requiring assistance in 2020 has skyrocketed, the increased contact rate in a collections call center is transforming collections KPIs, revamping performance metrics, and stressing the importance of managing and maintaining compliance. This permanent change in working models and collections call center management will ultimately lead to new ways to improve…
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In conversations with collections professionals from the energy and water industries, it would seem the answer to this question is yes. Those operating outside financial services could claim to have particular constraints around supply of service, data sharing consent and statutory collections processes. The challenge is how do they measure their effectiveness unless their current…
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With the ever-increasing volatility of the UK (and worldwide) commercial environment, it is important to build a picture of the risk profile of your customers. Lockdowns, frequent changes in trading rules and ability to operate, we are seeing increased stress across the economy. The UK GDP fall of 19.8% in Qtr2 was unprecedented, and with…
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The impact of the coronavirus pandemic has illustrated how quickly individuals and business’s circumstances can change. For example, when initial lockdown restrictions began on 26th March 2020 in the UK, 1.6 million payment holidays had been offered to mortgage customers within the first month. Payment holiday initiatives have unquestionably come to the aid of so…
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The current uncertain economic climate caused by the COVID-19 pandemic is, for many, bringing back memories of the 2008 recession. In these fast-moving times, we see the importance of maintaining the smallest possible DSO levels come to the forefront in order for businesses to maintain a sustainable cash flow. As a result, during challenging times…
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It’s estimated that more than 59 zettabytes (ZB) of data will be created, captured, copied, and consumed in the world in 2020 – compared to just 1.2 trillion in 2010. Managing and using these vast volumes can be overwhelming but acting on gut instinct when it comes to making strategic decisions and moving in new directions…
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B2B businesses are a substantial contributor to the UK economy. It’s estimated that 40% of UK businesses derive all or most of their revenue from B2B trade, and a further 42% of businesses derive at least some of their income from it1. This huge portion of the economy is also more susceptible to the trade…
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The opportunity of a triple win is clear – engaged and empowered employees, better business performance and competitor differentiation, and helping address the climate crisis – but the areas that need your real workplace attention in 2021 probably aren’t what you’d expect. Over the years there have been many predictions about what the world of…
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In the Questions and Answers article Julian Hudson, Head of Trade Credit, Chubb, provides a brief overview of Chubb’s trade credit capabilities and insights into current market conditions. When did Chubb Global Markets start writing trade credit business? Chubb Global Markets has been underwriting Political Risk & Credit business for over 20 years. We operate…
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With cost savings high on the agenda for risk professionals, and some bureaux announcing the withdrawal of products and services, it’s now even more important for our clients to bridge the gap between data pricing, quality and accuracy. But with so much variation in how data providers set prices, how can you gain complete transparency,…
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