Relations appreciate service Xolv!
A while back, Xolv conducted a customer satisfaction survey among its relations. We are proud to say that they rated Xolv with an 8.2. Relations particularly appreciate the service in the field of credit limits and buyer information. That is our speciality. We invest in Risk analysts who support our relations in optimising coverage on their buyers, but also provide extensive information if a buyer's creditworthiness turns out to be not so good. We also analyse debtor portfolios so that trends can be detected quickly.
Declining confidence in the economy. What next?
After two-and-a-half years of uncertainty due to the corona pandemic, for the first time, it looks like we will have a more or less normal Christmas again. Lockdowns are no longer expected. Reason for optimism you would think. But no, consumer confidence is now at an all-time low for two months in a row.
What's left to do in 2022? Seven tips for maximum benefit
Slowly but surely, we will take stock: what did 2022 bring, what could be better in 2023, did you achieve your goals, where do you need to adjust? Can you grow or are you just marking time? In any case, what you can do this year is to read these seven tips. Then you will know what you can still do (or not do) to get the maximum financial benefit from your credit insurance policy or financing. Then you can tick off that too!
Why China is not dropping its own currency just now
Little is coming of Chinese plans to make the renminbi a major force in the currency world. However, the digital renminbi is well ahead of crypto currencies from other central banks.
Inflation record! And now down again
It was a bit of a gulp again when it was announced how high inflation has risen. However, a fall in oil prices and a cautious recovery of the euro, are signs that the worst of the inflation pain is behind us.
Against the current
The economic tide appears to be turning on many fronts. Energy prices are at historic highs, interest rates, not so long negative, are rising by many percentage points and will continue to do so in the coming months. To make matters worse, the war in Ukraine is causing shortages in many areas and the uncertainty about its outcome is creating a lot of additional uncertainty in the market. Consumer confidence has never been as low as it is now. In sectors where things are still going crescendo, vacancies cannot be FILLED and wages are rising by sometimes as much as 10% or more. To the extent that we are not already in a recession, it will surely come in the near future.
Help, my customer doesn't pay!
From 1 October, deferred taxes have to be paid again and undue NOW benefits will have to be repaid. Borrowing money is no longer free and, as a result, payment problems may increase rapidly. Also because economic growth is slowing down. Companies are generating less revenue. They try to stretch their liquidity position by delaying payment of their invoices.
Outsourcing receivables management is solution to labour market tightness
Schedules hard to knit around, too few staff for too much work, new vacancies left unfilled. Recognisable? It is extremely difficult for many companies to find and keep good staff. Due to the tightness on the labour market, more and more companies are facing staff shortages. At the beginning of the third quarter of 2022, 38 per cent of companies indicated that a labour shortage was the main obstacle to production or operations. Just for comparison, the figure was 10 per cent at the beginning of last year.
Why choose credit insurance right now?
The explanation is pretty simple, fix the roof when the sun shines. Who does not know this expression? The economy has picked up tremendously after the coronadip and companies are delivering great figures for 2021. Bankruptcies are at historically low levels and credit insurers are accepting a lot of risk.
Factoring also suitable for financing stocks
Factoring has grown rapidly in popularity over the past 10 years. There are many reasons for this. On the one hand, the major banks are increasingly cautious in providing working capital financing due to stricter regulatory rules. On the other hand, this popularity also has to do with improving the product. More and more innovative parties have entered the market, making the factoring product more customer-friendly and certainly cheaper. As a result, the cost of factoring is often comparable to that of a normal business loan.