debtor management

CreditDevice provides an integrated platform for efficient and secure credit management. From credit information and debtor management to policy management, the software acts as a powerful add-on to the existing accounting package. This gives organisations more control over risks and speeds up payments. Sales Director Olav de Lange of CreditDevice: “There are still a lot of organisations that do their credit management largely manually. With excel lists and notifications in Outlook, for example. Credit management is in our DNA, as is automation.”

You deliver a product or service, send an invoice and wait for payment. Sounds simple, but in practice, that money often arrives late, or not at all. Without good credit management, your cash flow comes under pressure, and a business that does not receive any money can hardly grow. So good debtor management is not an administrative sideshow, it is essential for doing business.

The WHOA allows viable companies to restructure unbearable debt before it comes to bankruptcy. If creditors holding two-thirds of the outstanding debt agree to the arrangement, the court can force the remaining creditors to join in. Different categories of creditors may be treated differently. This allows the entrepreneur in dire straits, for example, to pay financiers less or later than suppliers. As a supplier, you then continue to supply and so the company does not run out of stock.

Bankers and insurers used to be known as solid parties where innovation was often slow. Fortunately, a lot has changed! And we like to talk about that for a moment, because it is high time we got rid of that dusty image. 

Debtor risk is often one of the largest items on the balance sheet whose value needs to be correctly assessed. You know that entrepreneurship involves the necessary risks. It is therefore wise to identify and manage these risks as well as possible. You do this with your risk management: a process by which you continuously identify, control, monitor and report risks.

It is incredibly annoying to have to go after your own money. Of course, you act like a good merchant and speak to the buyer several times about his negligence and the obligation to pay. Because you know: the longer payment is delayed, the greater the risk of damage. We notice a worsening of payment terms and an increase in collection cases. Not so much driven by a company's morality, but more by a shortage of liquidity. 

In both the public and private sectors, customers can ask for a guarantee or surety. Chances are you immediately think of your bank, which makes sense because until a few years ago, that was the institution to turn to. But times are changing, there are new guarantee providers on the market. And that is more than worth considering! Because of the costs, but there are more advantages.

Kersten BV is a Dutch wholesaler that sells trendy home accessories to shops in more than 72 countries. From beautiful furniture to stylish trays. And from bath mats to etagères. Diederik Kersten is co-owner with his brother; they took over the company from their parents in 1995. Who in turn took it over from Diederik's grandfather. A real family business! Whether the wholesale business still looks the same as in grandfather's time? No, of course not. The world changes rapidly and Kersten BV responds to this in an agile and flexible manner.

Very annoying, customers who don't pay or don't pay on time. Cash flow comes under pressure and the likelihood of writing off the receivable only increases as time passes. What steps can you take?

A good partnership is all about trust. And about good services and service at the right prices, of course. But above all it is about trust. If you engage a broker, you want to be sure that no deals are being done behind your back. To put it bluntly. And we understand that like no other. As entrepreneurs, we too are always looking for parties we can trust. Who are transparent, who let us do business freely. That is precisely why we want to be very transparent about our working methods. And we cannot emphasise that enough.