Now if you do business in Belgium (so even as a foreign company) you are contractually allowed a payment period of up to 60 days. With the possible arrival of the new Late Payment Directive, this will be changed and all companies would have to pay within 30 days, which is twice as fast as now.
With the rise of social media and companies in the "new economy," there was renewed interest in applying AI for credit assessment. A not insignificant part of these companies' investment in AI, is making it explainable (xAI).
To find an effective credit risk management solution, it is important to consider three questions: In which countries do you operate? How scalable is the solution? And how good is the quality of the data the tool uses? We'll help you further.
Doing business has long ceased to be a matter of good faith. Especially with larger companies, the risks involved are just way too high. The alternative: running credit checks on (potential) customers before you close a deal. But how do you do that properly?
After your data housekeeping and your data strategy, it's now time for your data process. In a handy infographic, we've provided an overview of how to streamline your data process in 5 steps.
With the broadest sense of credit provision, risks arise. Can the company repay this credit? Will this company pay on time? Is it wise to take risks occasionally, or is it better to avoid them or insure against them?
The ultimate credit risk cheat sheet is here. At a glance, you can see all the trends, challenges and solutions you need to know about as a credit professional.
Couldn't make it to the Credit Summer Event? Or would you like to review all the highlights? We've listed all the key highlights. All panel discussions and keynotes revolved around triple threat; a triptych of current challenges facing the credit manager.
In today's world, your focus must extend beyond financial performance. ESG (Environmental, Social, Governance) has just as much impact today. These factors are increasingly seen as crucial indicators of a company's overall health and sustainability. This makes ESG the biggest game changer for credit managers.
What would you do in the time saved by automating credit underwriting? Numerous credit managers will agree that constantly doing the same manual work eventually gets boring. The solution? Automate.
The classic approach to credit risk management consists of looking at a company's profitability, liquidity and solvency. More and more you read that ESG does have an impact on credit risk assessments and investments. Laws and regulations regarding ESG are also taking shape and expanding.
A fraud risk assessment framework is a process that helps identify areas where an organization is vulnerable to fraud so you can develop concrete plans. When such an analysis is done correctly, you always stay a few steps ahead of a fraudster. After all, you are looking at your own organization from the eyes of a fraudster.
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