This page contains a Flash digital edition of a book.
The Last Word Comment

In the face of the floods

When faced with a series of flood crises for individuals and businesses, credit management was able to put itself at the heart of the solution

Darren Allardyce Credit manager, Adler & Allan

The Christmas period has been a wet one for many people, with thousands of homes and businesses in the North of England sadly affected by flooding. Despite the holiday season, we have been

on call to help a number of office buildings, forecourts, retail outlets and other business clients minimise the devastation and get back up and running as quickly as possible.

Weighing the balance To ensure such emergency trade is protected while providing a speedy, sensitive, response to clients is a balancing act, operating in an industry where emphasis can be placed on the duty of care to customers with secondary thought on risk, account administration or even how one receives payment. To support the business, a personal

approach is vital and the credit control team always stays close to the depot network to assist as early as possible, ensuring the know-your-customer policy, terms and limits are agreed, communicated and adhered to – even though work may have already commenced!

Practical credit control Practically, while technology is utilised to provide risk opinions across the company, an out-of-hours credit-checking service was established to assist the operations teams and give them the financial comfort they need, especially during such challenging and dynamic conditions.

50 Credit control will get into the mix early

to identify whether insurers and loss adjusters are involved and work with them to create billing accounts accurately, making sure there are no on-going queries on larger projects and, ultimately, expedite payments. Operationally, the primary task was to

access and clean the sites as soon as possible as well as supplying additional protection to customers where required. To give a greater assistance to the

operations team, the credit manager placed himself at the Manchester depot where the majority of the work was going through. This enabled immediate on-the-spot credit decisions and advice, which was invaluable given the urgency and frequency of requests.

An out-of-hours credit- checking service was established to assist the operations teams and give them the financial comfort they need, especially during such challenging and dynamic conditions

Conclusion Alongside the Business Emergency Resilience Group, we will be supporting UK small and medium-sized enterprises, helping them better plan for future flooding, including assessing flood risk, defending against flood waters and having the correct plans and procedures in place to minimise unavoidable disasters. Now that the storms are subsiding and

jobs are coming to completion, the credit team still supplies active assistance to the business, chasing up confirmation that all relevant data for billing has been collected, alongside giving advice on how best to invoice. CCR

February 2016

Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52