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What Hinders Effective Credit Management?

credit management

There are no ifs, ands or buts about it, every business has a credit management function; how effective that credit management function is will significantly impact upon how well the business performs as a whole. Effective credit management takes into account a whole host of different aspects within the business’ order to cash process, such […]

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How to deal with late payment excuses

late payment resolution in recruitment

Here at Credit Management Group we have heard a wide variety of excuses for late payment over the years. Some are much more believable than others! Below are the top 5 and how to deal with them. “We didn’t receive the invoice” / “We asked for a copy invoice to be sent” The best way […]

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The Pros and Cons of Invoice Finance

invoice finance

Invoice financing allows businesses to draw money against a percentage of an invoice prior to it being paid by the customer. Whilst this may sound like a great option to finance your business, careful consideration should be taken when considering invoice financing within your business. First things first, one thing I have learnt from my […]

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Top Tips for Late Payment Resolution in Recruitment

late payment resolution in recruitment

Late payment and poor payment practices are not issues that are isolated to a particular industry, these issues will affect businesses across all industries throughout the UK and worldwide. However, certain industries tend to be more susceptible to specific issues that result in delayed payment. For recruitment companies, issues such as ‘behind your back’ or […]

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Eight New Year’s Resolutions to Improve your Commercial Credit Management in 2020

2020 resolutions

2020 could be the year for your business to improve and grow, however this relies heavily on how effectively your commercial credit management runs. Therefore, at CMG UK, we have compiled a list of New Year’s resolutions for your to carry forward into 2020 for the benefit of your business. Improving your commercial credit management […]

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Duty to report on payment practices and performance

Duty to report on payment practices and performance

During 2017 there was a change in legislation where by large companies would be required to produce reports on their payment practices and performances. The reports are required for all companies meeting the criteria, from October 2017 (depending on the date of commencement of the company’s financial year). The criteria to be classed as a […]

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