On Tuesday 18 January, the Netherland-American Foundation (NAF) hosted a seminar in association with OnGuard, Bierens Incasso, Graydon and the Dutch, Belgian and French Chambers of Commerce to discuss the issue of: Credit Management: revenue maker or company expense? The evening attracted more than 60 people and presentations were given by OnGuard, Bierens and Graydon.
The evening’s discussion covered how different cultures, currencies, local legislation, and payment behaviour affect credit risk management in the international business environment.
After an informal reception, Graydon presented with an interesting take on the order-to-cash process which highlighted the importance of knowing your customer before doing business and identifying possible risks through credit reports.
David Taylor, CEO of OnGuard then presented on the importance of combining external credit reports with proprietary information gathered about customers to identify any potential challenges around cash flow. David highlighted that too many companies only evaluate customers’ credit risk when they initially do business. To truly measure credit risk it must be tracked over time, monitoring patterns such as payment behaviour, disputed invoices, and backtracking on pre- agreed payment terms. In doing so, firms can identify red flags that indicate a customer in financial difficulty before it is too late.
The evening was closed by Bierens Incasso who explained its philosophy on successfully chasing invoices that have been written off.
After the presentations, attendants were given another chance to network. As OnGuard’s plans to globally expand progress, David continues to be recognised as an authoritative source in the field of credit management. As such, many took this networking opportunity to probe him for additional information and knowledge.
Contact
Would you like to find out what OnGuard can do for you? For more information or advise please contact OnGuard via telephone +31(0)294 25 6666 or e-mail
info@onguard.com.