Surviving the Credit Crunch
The recent turmoil on Wall Street and passage of the emergency bill to bail out the fragile financial industry is evidence that we are going through very volatile economic times. A recent survey suggested the number one financial tip for businesses looking to survive the credit crunch and ensure their balance sheet remains strong and continues to grow is:
Tip 1: Fighting bad & doubtful debts
This is a problem that businesses face at any stage in the economic cycle. However, when liquidity's drying up in the market, they find the pinch is a bit harder to take.
Consider in Canada at this moment, 35.8% of companies are not prompt in paying their obligation and 16.47% are unhealthy companies that are not prompt payers and are more likely to experience financial stress.
Don't be afraid to turn away business if the risk is too great, before you turn away business though; consider real-time commercial credit risk management tools to support your decisions. Decide with confidence.
D&B products help you to remain proactive, and efficiently and accurately predict future credit risk as well as business opportunity.
- DNBi: The credit tool that appreciates in value
DNBi is the ideal risk management tool for today’s credit professional… and tomorrow’s. As your needs change, DNBi will be right there with you, offering additional modules with even more functionality.
- Global Decision Maker
Automate and accelerate your global credit and risk decisions.
- Portfolio Manager
A comprehensive risk analysis tool to help you better manage cash flow and bad debt.
- Collections Prioritization
Reduce collection effort and cost while maximizing collection potential
- Enterprise Risk Assessment Manager
Enterprise Risk Assessment Manager allows you to meet complex risk management challenges with confidence with easier access to complete information, more decentralized decisioning with centralized control and absolute flexibility.
- D&B Express
D&B Express allows you to get any credit report for your business as you go.
