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Credit Matters
What's New At Credit Matters?

What's New At Credit Matters?

Developing new products and features is an ongoing function on any business if it is to remain relevant. Credit Matters is no different and next month, we hope to make available another new product and perhaps a new feature if everything goes to plan before the end of 2018.

This month we are forwarding the following brochures with our newsletter from Enable, ACFE, CreditorWatch, RSM regarding the CFE exam details for 2019 and Investigator Upgrade.

Please note, Investigator Upgrade's brochure has a very attractive offer for members of the AIPI or for those individuals who have been considering joining the AIPI who enrol for either course advertised.

If you would like to advertise and be seen by our Members and the visitors to our website, contact Kim for an affordable advertising package tailored for your needs. Kim can be contact at or via telephone for a chat to find out more.

Quote Of The Month

Quote Of The Month

We've learned that automation does not eliminate errors. Rather, it changes the nature of the errors that are made, and it makes possible new kinds of errors. The bottom line is this: Systems that integrate the best of human abilities and technology are the safest for all concerned. –

Captain Sully Sullenberger

Monthly Business Observation

Monthly Business Observation

The Miracle on The Hudson as it become known, is a famous incident linked to this month’s quote. As the captain in the cockpit that day, Captain Sully Sullenberger said afterwards, “The bottom line is this: Systems that integrate the best of human abilities and technology are the safest for all concerned.”

Captain Sullenberger was talking about aeroplanes on this occasion. The fact is, it is also a wise saying to remember for the business community. The use of technology tools is on the rise. It is wise to remember however, these tools alone do not make a business efficient, nor satisfy the needs of all your business stakeholders.

There is nothing worse than dealing with a business with poorly implemented or inadequate technology tools and where there are few people available to manage stakeholder concerns.

Repeatedly, and unfortunately, we are all too often forced to interact with a business where technology has been used as an excuse to retrench people or to reduce upfront costs of the business.

In many cases, proper due diligence on the effectiveness of the use and quality of the new technology and its effect on existing processes that previously worked, has often not been completed. The reason why due diligence has not been completed is usually to save money or to suit the vested interests of management and others.

The end result in many situations is not pretty, efficient or cost effective. Stakeholders are often left lamenting on the loss of faith in the business and suffering other negative consequences. Meanwhile the people who take advantage of the inefficiencies and enjoy the benefits, will include senior management with vested interests, fraudsters, slow paying customers and disenfranchised employees.

The best business organisations know how to use technology efficiently, are prepared to invest properly in the technology to ensure it does what it says it can do and does what the business requires it to do. They also know the value of employing the best and most professional employees.

To conclude, I have amended Captain Sullenberger’s quote as follows.

As more technology tools are implemented and used in business, the more we are finding that technology does not eliminate errors. Rather, it changes the nature of the errors that are made, and it makes possible new kinds of errors. The bottom line is, systems that integrate the best of human abilities and technology provide the greatest return for all businesses.

Monthly Business Conundrum

There is no one size customer that suits every business. When you target a particular type of customer, this in itself may cause unforeseen problems and a loss of profitable sales. The conundrum for all business people is to work out which are the best customers for their business.

Dealing with smaller sized businesses can mean a lot of work managing all the different types of relationships, delivery of product and/or services and the collection of any unpaid invoices.

The main benefit with proper processes and business disciplines when dealing with a large number of customers is that you are spreading the risk if any of these customers should go broke.

If you target larger businesses you may face many of the same problems as you do with smaller sized customers. Unfortunately, especially for smaller sized suppliers, there may be many unexpected problems and any anticipated profits can soon disappear.

It is also wise to be prepared because if a large business becomes insolvent, you too may become insolvent and lose your own business. As the old saying goes, it is never recommended to put all your eggs in the one basket.

It can be very satisfying and profitable snaring a large business customer, if you get the processes right.

The conundrum for all business owners therefore is understanding their own business’s capabilities verses the type of customer they are targeting.

Monthly Business Conundrum
This Month's Business Inconvenient Truth

This Month's Business Inconvenient Truth

Smart business is dealing with suppliers and customers that interact with your business in a fair, timely and efficient manner.

The world has changed since any business could treat its suppliers and customers as though your business was doing them a favour. Today we operate in a very different social and business environment.

Customers and legislators are increasingly fighting back against suppliers which do not do the right thing. A supplier needs to be able to show their business operates fairly towards all stakeholders, respects the customer, delivers what they say they can deliver and offers quality customer service.

Customers need to show they too need to be fair. A supplier-friendly customer will pay them in a timely manner, are ready to quickly resolve problems, provide effective communication channels and not raise false claims in an effort to delay payment.

When all parties work together, each party benefits and maximises their business opportunities. Now that is smart business!

Word Of The Month

Is the spelling learnt or learned?

OK. This is one where I’ll stand corrected. Until writing this article I’d previously researched and found the spelling learnt was the preferred Australian English spelling, except for the usage of learned for a person with much knowledge pronounced “learn-ed”.  But today that changes. Our language changes over time and at times that means we need to change as well.

When it comes to the spelling of learnt or learned, in the usage such as “I learnt/learned to drive”, the preferred spelling in Australia is learned.

If you check The Australian Oxford Dictionary and the Macquarie Dictionary for the entry “learn”, you’ll find learned appears before learnt in both. The positioning of the word in the entry indicates the preferred usage in Australia.

To confirm the usage in Australia, a search of Google for sites ending in .au (Australian sites), for a phrase such as “l learned to drive” and “I learnt to drive”, returns over 90% of articles using learned compared to learnt.

Word Of The Month

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Credit Matters is a financial risk management resource centre for the Australian business community. If you are in business, Credit Matters is your ideal source of financial risk management solutions.

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Future Opportunities & Possibilities

Credit Matters is continuing to grow and provide marketing and knowledge about financial risks to the Australia business community.

Futhermore, we invite marketing and knowledge ideas from our readers and contributors on how we can assist our respective firms grow. If you have any ideas, please contact me at

If you are interested in finding new ways to reach your marketplace, why not try Credit Matters. Our prices for advertising are very reasonable and advertising packages are on offer to make any cost, even more affordable. So if you are interested in reaching your customers at the right price, please contact Kim at for options.