Commercial Credit & Collections Conference review

22nd June 2022

Credit Connect’s hosted its second Online Commercial Credit & Collections Conference last week which saw trade credit, insolvency, business change and technology discussed by sixteen leading credit, collections and insolvency professionals.

Commenting on the event, event panel speaker Charles Mayhew CEO from Global Debt Recovery and Litigation said “I was delighted to be on the panel for credit connect, and loved the open flowing questions and answers.”

Brad Morris from Dell said “With increasing uncertainty in the world economies, if you want to survive, you have got to communicate – not just making a clear message, but listening to others messages. That’s why networking with your peers across the credit industry is more important now than ever before.”

Event host Colin White Founding Director at Credit Connect said “It was great to see such a great mix of commercial credit and specialists take part in the industry panel discussions supported by the viewer interactions, responding to the survey polls and asking questions at our online version of the event which focuses on business credit and collections. It will be great to get continue the conversation at the Commercial Credit & Collections round table at the Midland Hotel on 17th November”

The event was supported by Begbies Traynor and March McLennan.

Event Questions round-up

Responses to selected questions:

  • What are the panel’s views on the best thing that can change that have a positive impact on the economy (e.g the war in Ukraine is resolved)?

Brad Morris from Dell: Few things but its now that governments need to take bigger and more tactical steps in controlling inflation including (i.) reducing overall taxes on fuel (approx. 48% is govt bound revenues), (ii.) making sure consumer UK fuel caps are pulled down to liberate some consumer spending (or at least relieve fuel poverty) and (iii.) increased aid to lower-paid workers, especially in the essential services (eg., NHS, fire, police).

  • The shipping industry stills seems to be unable to fulfil orders, how do UK exporters cope with organising their shipments abroad?

Brad Morris from Dell: Perhaps a two pronged approach: (1) internally become subject matter experts how UK exports have been impacted by BREXIT and internationally – so invest in training and/or employ trade lawyers advise on policies and (2) externally – engage with export partners who are better placed in this area to assist, knowing you may need to pay a premium for this expertise. Effectively you need to get ahead of delays and potential disruptions.”

“Also, diversify your outbound supply channels, so not all orders are held up at the same dock. However, the payoff of both internal and external investment in training and advisory services will be a much reduce risk profile with the exporting activities. Compare the expense of paying for such training and advise to the cash flow issues of export delays and unfulfilled orders (as well as impact on customer reputation).”

“Also, if you can demonstrate that as a business you have taken tangible steps to address the issue of export delays and a overburdened shipping industry, bankers, export finance companies and credit insurers will be more trusting to extend credit.”

Brian Lewis from CPI EuroMix: “My advice would be engage, engage, engage – with your customers, know what they expect and negotiate so everyone knows what is expected of them. Engage with management, sell the credit function, make sure they know you control the businesses most fluid asset and you know the business and markets and most importantly of all, your sales team – get to know their customers better than they do, show empathy with their issues whilst underlying your own targets, KPI’s etc that you need to achieve that gets you all to the goal”

Selected Event Poll Results

  • Do you think technology can play an active role in commercial credit management collections?

Yes – 80%
No  – 20%

  • Has your company seen an increase in late payment terms?

Yes – 57%
No  – 43%

  • Are you concerned that the rise in insolvent businesses may impact your business?

Very concerned – 36%
Slightly concerned – 46%
Not concerned – 18%

  • Has your business suffered a fraud or cyber attack?

Yes – 43%
No – 39%
Don’t know -18%

Does your company have fraud/cyber attack measures in place?

Yes – 68%
No – 11%
Don’t know – 21%

  • What do you view as the biggest threat to the world economy?

Return of new versions of Covid/New pandemic  – 5%
More wars or Ukraine-Russian war increasing outside borders-  34%
Rise of worldwide cost of living -16%
Rising interest rates – 45%

The event has been recorded and the sessions are now available on-demand by clicking here.

If you are interested in speaking or becoming a sponsor for the next event then call 01622 535075 or email for more information.