Reporter 442, 8 November 1999
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A new quarterly survey of credit managers in 1000 UK companies is launched today. The Credit Management Quarterly Review is the only survey of its kind to take information from a panel of credit managers on a regular basis. The data tracks trends and changes in credit management practice, company payment patterns/ behaviour and corporate sector risk.
KEY FINDINGS - ISSUE 1
- Business failures are set to rise until the year 2000.
- Internet use has doubled in 18 months.
- More firms are using the Late Payment Legislation.
- Large businesses are the worst payers.
- Payment by small firms and central government has improved.
- Exporters face the longest payment delays.
- Exporters face a decline in export sales.
- Economic conditions are stabilising.
The survey has built up a rich data-bank over the past 2 years and will be used to monitor and forecast key areas of business activity; track trends in credit management practice; provide benchmarks and evaluate the impact of Government legislation such as the Late Payment of Commercial Debts (Interest) Act 1998.
The information contained in the Review is proving to be a reliable indicator of the economy and business in the UK and some initial findings have already achieved significant media coverage. The Review provides professionals, directly involved in credit management, with information to measure their performance against national and industry benchmarks. The Quarterly Review is a valuable source of information for the Credit Services Industry (e.g. credit reference agencies, credit insurers, factoring agencies, debt collection agencies).
Each twenty page edition of the Review contains statistics related to business activity, credit terms/payment behaviour, payment methods, issues affecting credit management, relationships with suppliers, payment performance and trends in corporate insolvency and risk. Special topics will include the impact of e-commerce, technologies affecting credit management and export credit management.
In 1994 the Credit Management Research Centre launched the first nationwide survey of UK credit management practice and followed this with a survey of credit management in small and medium sized businesses in 1995. Since 1997 the Credit Management Research Centre, based at Leeds University Business School, has been collecting quarterly information in association with the Institute of Credit Management on credit management practice in the UK.
The Quarterly Review contains data from this date and will be published every three months, updated to include the very latest trends. Anyone interested in further information about the Quarterly Review should contact the Credit Management Research Centre on (0113) 2334478 (email@example.com) or visit the CMRC website at http://cmrc.vsp.co.uk
Office: 0113 233 4478
Enquiries: 0113 233 4359
Professor Nicholas Wilson
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