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We have recently seen an article detailing the new plans for bringing the current court system up to the 21st century. The main points of the article highlight the need to enable people to do as much digitally as possible. This will not only free up time of the court itself but prove much more […]
Latest Industry news update from Credit Management Group UK At Credit Management Group UK we are keen to keep you up to date with any changes in the industry that we think might affect you and the way in which your credit function works. There has been a recent announcement from the Ministry of Justice […]
One of the new things we thought we would bring you this month is an industry round up of the news we think will be useful to you. A lot of what we blog about is us and our thoughts on how things should be done. It’s always nice to share news that is already […]
Our top credit management questions in April Here are April’s top credit management questions that we have been asked by customers and contacts. A customer has offered to pay £250 of a £500 debt in full and final settlement, what does this mean? If your customer proposes to pay an amount in full and final […]
According to results from the Zurich SME Risk Index , SMEs are owed an estimated £44.6 billion in late payments. Resolving late payment issues is vital for SME’s survival. using Late Payment Legislation as leverage is very effective. Worries over harming customer relationships can deter small business managers and owners from suggesting they will charge […]
The duty to report payment performance and practices for large UK businesses came into force on 6th April 2017, in a move that hopes to reduce the number of large businesses insisting on unreasonably long payment terms to the detriment of smaller suppliers. Large businesses have come under fire in the past few years for […]
Here are February’s Frequent Credit Management Questions Why should I be credit checking customers? Credit checking your current and prospective customers will help you assess the level of a risk a customer poses to your business at that moment. Credit risk report should be considered in detail, taking into consideration aspects such as: Adverse information […]
CCJs against businesses are at their lowest in second half of 2016 than any other year on record according the findings released by the Registry Trust in February. They have found that county court judgements against businesses in England and Wales fell by 21% in 2016, falling once again for the sixth year running. This […]
The Federation of Small Businesses (FSB) published a report in November, detailing the impact of poor business payment practices on businesses throughout the UK. The report found that little has changed over the past few years in terms of improvement in poor payment practices and that businesses are still suffering the consequences of late and […]
The construction industry is fraught with late payment and poor payment practices, in fact late payments rose by 27% within the construction industry in 2015,* with construction businesses writing off almost £15,000 on average in the past year **. The Construction Act can be used a vital resource in the construction industry to understand your […]