Global economy is suffering unprecedented impacts from the escalating international trade tensions and the coronavirus pandemic outbreak, and enterprises of all sizes have been struggling for several months under this "storm". With the pandemic situation gradually easing, countries are finding ways to resume their normal economic activities. In this unprecedented business environment, proper credit analysis and financial management to avoid bad debts and achieve profit gains is a major concern for small and medium-sized enterprises.
In fact, even disregarding the impact of the pandemic outbreak, the repayment ability of businesses across various industries in some traditional industrialized countries, including China, the United States, Germany and Italy, has been declining year after year, according to iQor RMS Collectability Index which classifies the successful bad debt collection rate of different industries/countries and showcases the debt collection performance and trends. Within 17 major industries, almost 70% of the debtor companies can only repay 30% of the delinquent debt payment due to different reasons. The decline in debt collection performance is getting worse in recent years. This seminar will explore strategies on default risk warning and debt recovery management for international trades, by integrating risks forecasts and market researches, through the application of iQor RMS Big Data Analytics and global debt collection experiences.
Content of seminar:
1. iQor RMS Collectability Index of 17 major industries around the world
2. iQor RMS Big Data Analytics of global debt collectability and trends
3. How to get a more thorough grasp on the operational risks of business partners before and during business cooperation
4. Things to be aware of in the receivable cycle
5. How to set up a receivable management framework and identify danger signals during collection process
6. Effective debt recovery processes, practices and techniques