NCI Brokers recently conducted their client survey asking CFOs and Credit Managers to relay their biggest challenges ahead.
The four main challenges were categorised into the following:
Kirk Cheesman Managing Director commented “For the first time, there were challenges relating to specific insolvencies such as RCR Tomlinson. Obtaining cover in ‘tricky spots’ in countries such as Argentina, Pakistan and Algeria were also noted as future challenges. Interestingly, Brexit was highlighted by a number of respondents surrounding the unknown outcomes. Similar to previous years, the challenges acknowledge why credit management is a key part of any business. Working hard at the front end to analyse good credit risk and setting stringent policies in collecting monies on time are important areas to focus on. NCI’s new ‘Top Up’ offering should assist in one of the challenges over the next year to obtain the full cover required. Regardless of the challenges facing your business, having the right resources, information, and protection in credit risk management is worthy of a strong focus in 2019 and beyond.”