Dan Meder, V.P. of Solutions Consulting for Experian will participate in a panel discussion on Tuesday, April 28th at 11:00 a.m. (Pacific) 2:00 p.m. (Eastern) titled "Balancing Credit Risk and Growth in an Economy Hit by COVID-19." It promises to be a very informative discussion about the issues credit professionals are dealing with.
While people across the globe are strained personally as well as professionally trying to deal with the crisis at hand, the businesses are wrestling with the possibility of recession in 2020.
According to Moody’s Analytics, the chance of a US recession this year lies between 33% to 49%.
With new businesses at a stand-still and the future uncertain, a lot of companies are turning to accounts receivable to collect the money already owed to them while keeping a close eye on the new deals or orders.
At this point, the onus lies on you as a credit professional to understand and predict customer behavior in order to take proactive actions ahead of time. This panel discussion explains some key tools and techniques you could leverage to double down on any business opportunity while maintaining a close watch on the risks involved.
- Red flag indicators to monitor including payment trends or history of UCC and lien filings
- Tools that you could leverage to verify data accuracy and timeliness
- Critical changes in credit policy like defining portfolio-specific terms and conditions
- Tips to prepare for worst case scenarios such as Force Majeure Clause or Bankruptcy