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Credit Management

Global Accounting Set for Overhaul by Tech Trends

The Association of Chartered Certified Accountants (ACCA) has identified 10 technology trends that is says will change the face of company reporting, and require accountants to learn new skills and competencies to keep up. The global body for professional accountants’ report “Digital Darwinism: thriving in the face of technology change” says these trends will significantly impact the global accounting profession ... Read More »

Credit Management: Pressure to Book Revenues Takes Its Toll on Credit Investigations

A survey of the National Association for Credit Management (NACM) indicates that a majority of companies give their credit departments enough time to feel comfortable with a customer’s creditworthiness before making a sale, nevertheless a sizable minority of them are still rushing blindly into potentially risky transactions.  This comes only a few years after the recession taught the world a ... Read More »

3D Printing, Scanning and Reversed Engineering to Change the Landscape of Credit Risk Management

According to the seasoned credit management expert Arnold Geelhoed, 3D printing, scanning and reversed engineering will change the landscape of credit risk management amongst many other things. Supply Chain contraction brings new challenges for credit risk management.  Major shifts in industry risk, and payment methods are to be expected as well as changes in the risks associated with certain countries. ... Read More »

FICO: Data Breaches Up 48% – Recommends Best Practices for Preventing Data Breaches

FICO publishes White Paper on Best Practices for Preventing Data Breaches. Consumers may enjoy the convenience of electronic banking, e-commerce and ATMs, but as the volume of financial transactions on computer networks increases, so does the risk that financial data will be compromised.  A record number of data breaches occurred in 2012—a dramatic 48% increase from 2011 in the US ... Read More »

Credit Management: The Climb Continues – Measuring the Ever-increasing Value of the Credit and Risk Management Skill Set

A new report published by Accenture in September found that risk management is figuring into more and more companies’ decision –making processes as they continue to adapt to the market.  The 2013 edition of Accenture’s Global Risk Management study found that 98% of firms surveyed give a higher priority to risk management now than they did two years ago, and ... Read More »

Coface Launches Coface Global Solutions (CGS)

Coface, one of the worldwide leaders in credit insurance solutions, is enhancing its organisation by creating Coface Global Solutions (CGS), to meet the specific needs of multinational clients. CGS provides international groups with a global view of their trade risks as well as local management of these risks thanks to unrivalled monitoring and analysis tools. Coface Global Solutions is a ... Read More »

Procurement Should Make a Takeover Bid for Accounts Payable

Spend Matters PRO started to feature a series on the evolution of the e-invoicing and related supplier network markets, including buying trends that may emerge in 2013.  One of these analyses was more subjective than others, and featured a review of why it believes the time is right for procurement to take a more serious look at making a run ... Read More »

Has Deleveraging in the US Come to an End?

After five years of nearly uninterrupted deleveraging, are American consumers (with a little help from lenders) ready to reverse course and begin taking on more debt?  According to FICO’s latest quarterly survey of US bank risk professionals, the answer seems to be yes. Source:  Bankinganalyticsblog.fico.com Read More »

UK Risk Climate: UK’s Largest Companies Pay Nine Days Faster

Positive Impact of UK Prompt Payment Code: Four years after the Prompt Payment Code (PPC) was launched, Experian reveals that the difference between the late payment times of the largest firms (more than 1,000 employees) and the smallest firms (up to 25 employees) has improved significantly, falling by almost nine days during this period, driven by better payment behavior among ... Read More »

10,000 Identity Fraud Rings Uncovered in the USA

Security company ID Analytics has uncovered 10,000 identity fraud rings in the U.S.  The company found the rings after studying 1.7 billion credit card and cell phone account applications and finding similar names, addresses and email addresses. ID Analytics provides the engine behind the LifeLock data protection service for consumers and was recently bought by LifeLock. The surprising aspect of ... Read More »

European Debt Crisis Likely to Push Bankruptcies to Higher Levels

The ongoing debt crisis in Europe continues to spread to the point where even the powerful German manufacturing sector is starting to take a hit. FCIB Global Conference Speaker Ludovic Subran, of Euler Hermes, noted this is likely to push bankruptcies much higher in a number of economies there. Subran noted that projections show low growth, if any, in most ... Read More »