Credit management during a pandemic

There is so much scope for using artificial intelligence and machine learning to manage credit risks, so how can finance teams leverage artificial intelligence and machine learning even if they can’t afford the technology or don’t have the volume of data yet? You’re about to find out in our latest podcast with Stan Chang who is the Director of Group Buyer Underwriting at Atradius. You’ll even hear 3 pieces of advice Stan wish he knew sooner, including just start…which you can do by listening to this 23 min podcast today. Support material View the Accenture report titled Artificial Intelligence here (https://www.accenture.com/au-en/insights/artificial-intelligence-summary-index). Help my business with credit insurance Contact Atradius in your region here (https://group.atradius.com/contact-us/?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep10).

ESG is gaining more focus and attention from businesses. We asked Stephen Koukoulas, one of Australia's leading economists to shed light on what's driving this trend, what the Australian Government could potentially mandate, and what CFOs, Credit Managers, Directors and Business Owners can do to prepare and report on their progress.Support materialView the PWC report titled Are you ready for the ESG revolution? here (https://www.pwc.com.au/important-problems/environment-social-governance/esg-revolution.html).Help my business with credit insuranceContact Atradius in your region here (https://group.atradius.com/contact-us/?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep08).

Many businesses hit a wall of worry when Covid-19 struck and it saw businesses ramping up their credit management strategies and exploring new ways to protect their cash flow.

In this episode, we've brought together an expert panel including:

* Mark Hoppe, Managing Director of Atradius Oceania

* Dirk Hagener, Atradius Director of Strategy and Corporate Development

* Stephen Koukoulas  one of Australia's leading economists

They'll be discussing:

* The relevance of credit insurance for businesses in 2021

* How digitalisation is shaping credit insurance and risk mitigation

* The economic factors sparking more interest in credit insurance

Help my business with credit insurance

Contact Atradius in your region here (https://group.atradius.com/contact-us/?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep08).

Special guest Daniel Turk, a Partner from Turks Legal, talks about the new insolvency legislation that came into effect on 1 January 2021 in Australia. He provides valuable insight on:

* The Temporary Restructuring Relief legislation which will cease at the end of March 2021

* The Business Restructuring Regime where a restructuring practitioner is appointed and has four weeks to prepare a plan to creditors

* Proposed changes to bankruptcy reforms for sole traders

* A simplified liquidation procedure for companies being wound up by liquidators with debts of less than $1m

Support material

View the Australian Government media release on insolvency reforms here (https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/insolvency).

Help my business collect debt

Contact Atradius Collections in your region here (https://atradiuscollections.com/global/contact-us?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep07).

Help my business with credit insurance

Contact Atradius in your region here (https://group.atradius.com/contact-us/?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep07).

We interviewed Daniel Turk from TurksLegal who shares a few things Australian businesses need to know:

* What your business can still do to put pressure on buyers and collect debt while insolvency holidays are in place

* Security of Payment legislation that suppliers to the building and construction industry can benefit from

* His view on whether we’ll see an insolvency increase next year

* The answers to common PPSA questions like how to register property, why your competitors have more than one registration and how to obtain a stocklist from liquidators and administrators

* Draft legislation which is looking to fast track an insolvency style administration for companies with debts less than $1,000,000 and what this could mean for you as a creditor

 

Help my business collect debt

Contact Atradius Collections in your region here (https://atradiuscollections.com/global/contact-us?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep06).

Help my business with credit insurance

Contact Atradius in your region here (https://group.atradius.com/contact-us/?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep06).

David Lloyd, Head of our Special Risk Management team for APAC, Africa and the Middle East talks about five key areas affecting businesses trading with other businesses during Covid-19:

1. How to tell if a company you're trading with is failing

2. Five actions to take if you think you're trading with an insolvent company

3. How to protect yourself from preferential claims

4. Differences between insolvency practices across APAC and Middle East regions

5. Zombie companies - what are they and are you trading with one

Support material

View the 10 warning signs to identify if a company is failing (https://atradius.com.au/faq/how-do-you-know-if-a-company-is-failing.html?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep05)

Help my business collect debt

Contact Atradius Collections in your region here (https://atradiuscollections.com/global/contact-us?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep05).

Help my business with credit insurance

Contact Atradius in your region here (https://group.atradius.com/contact-us/?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep05).

Did you know there are some countries who negotiate face to face as opposed to over the phone? Or that you need to get a court judgement from your debtors country not your own?And what about negotiating in the debtors language? So many debts go unpaid simply because of a breakdown in communication.

Ivor Miric is our international collections expert for Asia and the Middle East. In this eye opening episode he and David Finn, our Operations Manager for Atradius Collections Australia, discuss the market differences and common mistakes they see people make when collecting debt overseas. They'll also discuss the soaring insolvency rate worldwide and why it's crucial to collect debt early and engage an international debt collection specialist, like Atradius Collections (https://atradiuscollections.com/global/contact-us?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep04) who have people on the ground in your debtors country who know the local language, rules and regulations so you have the best chance of recovering your money.

Support material

Download our Global Insolvency Report (https://atradius.com.au/reports/economic-research-2020-insolvencies-forecast-to-jump-due-to-covid-19.html?utm_source=podcast&utm_medium=show-notes&utm_campaign=ep04) to see if a buyer might default.

Download our Debt Collection Handbook (https://atradiuscollections.com/global/reports/global-international-debt-collections-handbook.html?utm_source=podcast&utm_medium=show-notes&utm_campaign=ep04) to see how each countries debt collection approach differs.

Help my business collect debt

Contact Atradius Collections in your region here (https://atradiuscollections.com/global/contact-us?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep04).

Hear from two of our top debt collectors in Australia - David Finn & Peter Barbarian, they will share the top 3 debt collection strategies they're having success with during Covid-19.

The collection landscape has changed and it's important credit controllers and receivables staff can quickly decipher whether their debtor is genuinely going to pay or not.

This podcast shares 3 debt collection strategies:

* How to work with your debtor when they are genuine

* When to switch to bad cop if they're giving you the run around; and

* The importance of understanding your customers industry so you can adapt your approach based on their circumstances because some industries have been hit harder than others during this pandemic.

Help my business collect debt

Contact Atradius Collections in your region here (https://atradiuscollections.com/global/contact-us?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep03).

Cash is king in the Covid-19 business environment. Mary Ibrahim interviews David Finn, our Atradius Collections Operations Manager on why collecting some money is better than no money at all and how you can do this while maintaining your relationship with the buyer.

Key point to remember - if a buyer is struggling to pay you, they’re also struggling to pay someone else. So you need to stay top of mind by contacting debtors weekly to confirm they plan to pay on the agreed date.

The good news is that there is money available to be collected during Covid-19, but you do need to change your collection strategy, so tune into this 10 minute episode to find out all the secrets.

Support material

Download our checklist (https://publications.atradiuscollections.com/default-accounts-receivable-risks-assessment/preventive-measures/?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep01) to see if a buyer might default.

Help my business collect debt

Contact Atradius Collections in your region here (https://atradiuscollections.com/global/contact-us?utm_source=podcast&utm_medium=show_notes&utm_campaign=ep01).

Wouldn’t we love it if a debtor negotiation was all take take take, but unfortunately when it comes to getting money owed to you, it's going to involve give and take.

Why? Covid-19 has changed the payment environment, businesses are having cash flow issues and are also scared to part with money which is egged on by 24/7 coronavirus media coverage.

Remember your buyers who can’t pay are hurt and angry, lashing out at the circumstances they find themselves in. David Finn our Atradius Collections Operations Manager is going to share:

* 3 of the best techniques to collect money from debtors during Covid-19

* How to decipher if late payment excuses are true or a stalling strategy

* What you need to prepare before your debt collection calls

The key is to show your debtor that you understand the situation they are in. And remember to follow up on your agreed plans weekly, keep that dialogue open!