Financial risk management is one of the most important skillsets of management.
It is vital to understand the risk which is associated with all business enterprises, particularly your own!
Financial risk management is not just about debt collection, unpaid invoices and fraud.
How well do you manage your financial risk management issues?
If in doubt, Credit Matters is the right starting place for you.
These service providers are not debt collectors. They offer credit and accounts receivable and product services only. Typically their service involves offering accounts receivable services, support, credit reports etc.
See AllThese services providers assist you to build a better business and are complimentary to the credit/accounts receivable, debt collection or finance functions.
These professional debt collectors provide a wide of range of debt collection services for businesses of all sizes.
Insurance is part of normal business life. These vendors offer a range of service associated with business risk, including debtor ledger insurance.
Whether your business your customer are in financial difficulties, finding a vendor to assist in answering your questions can be difficult. These insolvency practitioners provide a number of services to assist when you are confronted by insolvency and bankruptcy issues.
Looking for business finance? These finance providers provide services or finance facilities when you are seeking business loans, invoice discounting, leasing, asset finance and equity finance, etc.
Lawyers are part of the team of professionals all business people need to call on at some stage of their business lives. Lawyers offer different services which help you start, grow and protect your business. These vendors all offer suitable services depending on your need at the time.
In this range of well known credit management providers, will be the right partner to help you build your credit/accounts receivable process to best practice.
See AllToday, we live in a global business community, so it seems only reasonable to offer Australian based business people an opportunity to locate overseas business knowledge, product and service providers.
The recruitment companies on Credit Matters either specialise in Credit or Accounts Receivable, Debt Collection employees etc. or have dedicated divisions focusing on these and other financial risk management employees. If you are looking for employees with specialised skills as described, these recruitment agencies are worth contacting.
See AllA successful business manages and measures risks. Part of managing risk is to act against fraudulent behaviour. These vendors are well placed to assist your risk strategies with investigation, due diligence and risk audits.
To assist in helping business professionals avoid using the wrong software, Credit Matters believes you need to have as many opportunities as possible to find the right software vendor.
If you are a specialist supplier of financial risk management products and services, then you need to be listed in Credit Matters Better Business Club.
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In this podcast, the focus is about what finance professionals need to know about emerging global fraud trends, what they can do to protect themselves and their firms, and what the future of fraud might look like.
Fraud is on the rise across the globe. Criminals are exploiting the convergence of social media, technology, and social engineering to create more potent and widespread scams. No one, and no business, is completely safe from this new wave of fraud.
What you’ll learn from this episode:
Roger Darvall-Stevens, RSM (Melbourne)
A brief introduction to Roger Darvall-Stevens reveals he is the National Head of Fraud & Forensics Services and has over 25 years of experience in forensic investigations and forensic accounting, fraud, bribery & corruption control, related training, forensic IT, compliance (including foreign bribery and corruption risk), and corporate security.
Beyond Blue has developed a free online guide that provides business advisers, such as accountants, bookkeepers and industry association representatives, with practical tips about how to support their clients and members.
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Up to Twelve Chances to WIN AUD $200
This challenge is for Members Only - Starts 1st July 2019 and Closes 30th June 2020.
The Red Flag Competition-Challenge is for you to find any business red flags that are not already listed in the Members Area of Credit Matters website. You will need to be a member to access the list and to enter this competition.
Well, it could be anything, but with a recession looming, I thought it worth putting forward my thoughts. This is my attempt to provide a possible scenario from the perspective of a credit and fraud risk professional, front-line global business operator, entrepreneur and business owner.
- Kim Radok
on key terms and insights is both
informative & helpfulfor all tradespeople.
Get your FREE compact e-book
for your mobile or ipad today.
This is certainly needed and valuable advice, so well done!
Having reviewed “A Guide to Help Business Tradies Get Paid”, I believe this could be a useful tool to consider for any tradie wanting to start a business.
It is easy to understand and user friendly. It provides a good guide to jump start your business and relevant topics to consider before and after starting your business.
Having this document in your phone would be a good quick reference guide.
I have been in the building industry for over 40 years and would recommend this guide.
The information included in setting up a company is really accurate. The more planning and consultation you can do before starting up the better.
Having been in business for over 40 years, I certainly agree with all the set up advice.
This is such a valuable document for any tradesperson contemplating starting a business.
It is full of information vital to establishing a business from scratch including one of the most vital aspects of business, getting paid.
I wish I had access to this information at the start of my career.
By Kim Radok, May 2018
My perspective on the “how and why” recessions occur, the preceding indicators and suggested action to survive them. The purpose of this article is to share experience, knowledge and insight for the many business professionals that have either forgotten the pain of the previous recessions, not experienced one in their working life and/or believe the “modern world is recession proof”. As a result, many of these individuals may consider themselves to be immune to the catastrophic ramifications.
Understanding and acting on the following information may help you protect your financial and emotional well-being........
To receive more like this; Sign up and receive our FREE newsletter, and/or become a Member.
Click here to learn about Fraudsters and Technology
Click here to view a list offor businesses who specialise in Risk and Fraud
If a business has debt and doesn’t pay, a debt collection agency will be on the hunt to track the money down. That’s where Dean Kaplan comes in. As CEO of The Kaplan Group, a commercial collections agency that deals with business debt, his company has collected tens of millions of dollars to return to their clients.
“We’re very motivated to collect the money” Kaplan says. “If somebody’s business got into so much debt that they have to go out of business, then I want that to happen, because otherwise they’re going to take advantage of more people who keep doing business with them.”
Read the Full ArticleThe free Members Area includes special features which may not be available to the general public.
The fundamental purpose of our Members Area is to build an environment where business people and students can learn and understand the issues associated with financial risk management in the business environment.
Red flags are warning signs that here may be problems with a potential or existing business customer relationships.
Typical customer red flag indicators can be seen when reviewing applications for credit, an increase in credit limits, periodical trading reviews, reputational stability and in day to day business activities.
Free online calculators to help you analysie your business.
Memos are an ideal way of keeping track of actions and conversations between you and your customers. Memos are also valuable evidence in case debt collection or legal action is required to recover an outstanding debt. However, writing out words and terms in full, can be time consuming and often are not required.
Having a structured set of words and abbreviated terms available within your business, allows for a disciplined approach to writing your memos. This aspect is important for effective communication between different groups of employees within the business. It is also extremely important if your memos end up being exposed in a Court case.
My perspective on the “how and why” recessions occur, the preceding indicators and suggested action to survive them. The purpose of this article is to share experience, knowledge and insight for the many business professionals that have either forgotten the pain of the previous recessions, not experienced one in their working life and/or believe the “modern world is recession proof”. As a result, many of these individuals may consider themselves to be immune to the catastrophic ramifications.
Understanding and acting on the following information may help you protect your financial and emotional well-being........
It can be daunting to make contact with your customers for the unpaid invoice(s), especially when you are not used to such contacts. Too many people have an image of the debt collector demanding payments against defenceless debtors.
Identify the warning signs that your Customers are going in to trouble or are in trouble already. Learn what you can do to protect yourself.
In this feature area you find items, which if not exclusively available elsewhere, are hard to come by in normal circumstances.
You are free to peruse or download them for your use.
We hope they will be of value to you.
An Inconvenient truth was a movie about global warming. The business environment also contains a number of inconvenient truths. As is the case for global warming, many people would like to ignore the inconvenient truths of business.
To be the best business person you can be, it is to learn the terminology of words commonly used in business. Different business environments may have specific words which are common to their industry and setting. However, there are certain words which have universal meaning.
Discover how despite the good intentions behind some of the Australian Government's initiatives to support people in their consumer and business endeavours, they are being manipulated by the unscrupulous.
The Experts Exchange – are articles which blend the thoughts of two professional people through collaboration on a particular topic/subject. The object of these articles is to illustrate the how and why the knowledge of two professions interact in a manner that makes the article of more valuable to the reader. Instead of only one view on the article subject, the reader is introduced to a broader perspective of the subject.
In this forum we give you the opportunity to ask a question and have it answered In this resource section the articles on financial risk management help you understand, learn and use in your business.
Joining a professional body shows you are interested in the development of your career. There will be many professionals which will not show a similar initiative. Today, you need every advantage in this very competitive business environment.
Professional bodies provide the following opportunities and advantages and an acceptance of your professional qualifications by your peers.
If you are not yet a member of a professional body, review the professional bodies listed with Credit Matters to add value to your career.
Government agencies are a source of helpful and valuable information to mitigate some of the risks of operating and managing a business. The information is designed to help you operate within Government guidelines and Legislation. In addition, you will also find information to help you understand your rights in business.
In today's world, ignorance is no excuse.
Credit Matters has provided these access details to Government Agencies to keep yourself better informed and help you to better navigate the world of business.
The following conferences or expos offer a great chance to connect with other professionals and keep up with the latest trends in credit, finance and risk management.
The following providers offer ongoing Conferences, Workshops and/or Seminars. Click their logo below for their current calendar of events.
These blogs are designed to motivate business people and other professionals to improve their business operations to better understand financial risk management issues.
Improving the way you manage your financial risk management obligations, will assist to improve sales, cashflow and profits, whilst enhancing stakeholder relationships.
A business improvement specialist recently suggested that a good source of new business was from within the business itself. By contacting former customers which had stopped buying, it was possible to re-establish a positive trading relationship and gain new sales.
Another advantage of reviewing your existing customer lists, is the opportunity to upgrade your trading agreements that will be appropriate for today’s business environment. You can also deactivate those accounts which will cause future problems if reopened indiscriminately.
Read MoreContributing to our position as Australia’s premium Financial Risk Management resource, our management globally explores and surveys relevant and valuable articles published by respected professionals, academics and organisation. The articles offered here are suggested reading for any Business Owner and Financial Risk Management professional.
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Credit Matters is an essential MUST DO tool for all potential and existing businesses to ensure all threats of diminishing the financial viability are identified and treated. The fields of fraud, theft and deception are complex and often flourish when persons and businesses will inadequate preventative tools are purposely targeted by the fraudster. Credit Matters provides colleagues with ‘criterions to think with’ in relation to preventing crime for colleagues and their businesses. Credit Matters is a proactive source in all categories of business loss management promulgating best practice based on experience and quantified financial preventative achievements. Credit Matters is a free service and has made great contributions to the industry. Credit Matters Founder Kim Radok is one of the most respected practitioners in the field of financial management. It is recommended for all colleagues to visit Credit Matters Website.