Welcome to the September 2020 issue of Credit Management News Digest. This issue is sponsored by Atradius.

PLUS: This month's featured article:  'Trade Credit Insurance; an essential part of the business equation'
 By James Burgess, newly appointed Head of Commercial UK for leading trade credit insurer Atradius.
UK Late Payment, Cashflow & Insolvencies
Late payments are stifling economic recovery. According to new research by Bibby Financial Services (BFS), 55% of UK SMEs are being paid later as a result of the pandemic - a trend which is threatening the economic recovery. In addition, 36% of SMEs have seen payment times increase by more than three weeks, 28% have seen an increase in bad debt, and 12% have customers who refuse outright to pay money owed. The result is that 14% of SMEs have been forced to turn down new business as the money they need to buy raw materials is wrapped up in unpaid invoices. David Postings, Chief Executive of Bibby Financial Services, commented: "The pressures facing SME owners have always been high, but the pandemic and continued poor payment practice in the UK are raising them to unsustainable levels." To read BFS' news release go to https://www.bibbyfinancialservices.com/about-us/news-and-insights/news/2020/late-payments-stifling-economic-recovery.  
Seven consecutive quarters of rising financial distress leaves 527,000 UK businesses in a precarious position. The latest Red Flag Alert research by Begbies Traynor for Q2 2020 has recorded seven consecutive quarters of increased financial impairment, resulting in a record 527,000 businesses in all of the 22 sectors analysed in significant financial distress at the end of June 2020. Although this represents an increase of 7% since the start of the year and 9% year-on-year, it could have been much higher were it not for reduced court activity due to the Coronavirus pandemic. As a result, Begbies Traynor stresses that the impact of the Coronavirus pandemic will only become apparent during the third and fourth quarters of 2020. To read Begbies Traynor's news release go to https://www.begbies-traynorgroup.com/news/firm-news/seven-consecutive-quarters-of-rising-financial-distress-leaves-527000-uk-businesses-in-a-precarious-position.  
UK corporate insolvencies fall to the lowest level in four years, but dramatic increases are expected in Q3. According to a new analysis of notices in The Gazette by KPMG’s restructuring practice, UK corporate insolvencies have dropped to the lowest point since 2016, with 274 companies in the UK entering administration in the second quarter of 2020. This represents a 28% fall from the year’s first three months. However, Blair Nimmo, Head of Restructuring at KPMG in the UK, warned that a dramatic rise in insolvency numbers should be expected in the coming quarter. “Businesses are emerging into a quite different landscape. They may be required to navigate unforgiving territory, combining the withdrawal of government support, local lockdowns, consumer caution and shrinking margins due to new health and safety regimes and reduced productivity . . . Given this outlook, the Q3 insolvency data could tell quite a different story." To read KPMG's news release go to https://home.kpmg/uk/en/home/media/press-releases/2020/07/corporate-insolvencies-at-lowest-level-in-four-years.html.
39% of UK businesses have three months or less worth of cash in reserve. Results from the latest British Chamber of Commerce (BCC) Coronavirus Business Tracker reveal that business conditions improved only moderately in the weeks since the UK economy suffered an historic contraction in Q2 2020, with firms still reporting high levels of reliance on Government support schemes to help stem cashflow issues. The Tracker found that the number of firms reporting a rise in revenue from UK customers (38%) is now up significantly from the series low of 3% recorded during the second quarter. However, despite this progress, the number of respondents reporting a rise in UK revenue is still not exceeding the number reporting a decrease (also 38%). Furthermore, 39% of UK businesses say they have three months or less worth of cash in reserve. To read the BCC's news release go to https://www.britishchambers.org.uk/news/2020/08/bcc-coronavirus-business-impact-tracker-firms-vulnerable-as-government-schemes-approach-end.
UK insolvencies are set to rise by over a quarter this year. Atradius has advised that UK insolvency levels, which were down by 20% in the first half of the year, have been a reflection of the insolvency regime designed to protect companies from going bankrupt. However, as measures and Government programmes begin to expire, Atradius forecasts that the brunt of the recession will be more fully reflected with a rapid climb in the number of UK insolvencies and an overall 27% increase for 2020 as a whole. This will mean that the UK will have the ninth highest insolvency out the of 31 global markets analysed by Atradius, with Turkey (41% increase predicted), the US and Hong Kong (39% increase predicted), Portugal, Russia, the Netherlands and Spain among the countries expected to experience more business insolvencies. To read Atradius' news release go to https://group.atradius.com/publications/economic-research/2020-insolvencies-forecast-to-jump-due-to-covid-19.html.
Cashflow and late payments become a top priority for UK businesses. New research from Hitachi Capital Business Finance has revealed a significant rise in the proportion of small businesses that plan to keep costs down (61%), improve cash flow (32%) and get stricter on late payment (27%) to achieve growth in the final months of the year. Whilst 22% of respondents were looking to expand into new markets, the majority of growth plans related to getting the financials in shape for a new era of uncertainty. For example, improving cashflow jumped from 22% to 32% in six months as a top priority, as did a resolution to get much stricter on late payments – up from 18% to 27%. To read Hitachi Capital's news release go to https://www.hitachicapital.co.uk/news-media/small-businesses-go-through-financial-workout-to-get-in-shape-for-the-months-ahead/.
UK insolvencies are lower than last year due to government support, but debt is increasing dramatically. RSM has noted that, despite being in a recession, a wave of money and Government support totalling over £83 billion (furlough and loan schemes only) is keeping UK companies afloat. As a result, corporate insolvency levels remain over a third lower than this time last year (955 July 2020, 1,451 July 2019). However, corporate debt levels have increased dramatically, with Bank of England figures indicating that lending to UK SMEs in June 2020 was nearly sixteen times higher than it was in April 2020, and over eight times higher than any other month in the last seven years. To read RSM's news release go to https://www.rsmuk.com/news/insolvencies-lower-than-last-year-due-to-government-support-but-debt-is-increasing-dramatically.
UK Suppliers are about to be hit by "a quadruple whammy". InfolinkGazette's is warning that UK suppliers are about to hit by a perfect storm which will result in a surge of insolvencies in the coming months. The "quadruple whammy" includes: HMRC becoming a preferential creditor when businesses fail, the deferred insolvencies that have been delayed for the past five months; the insolvency growth of companies in at least 80 sectors that are struggling as the result of COVID-19 measures; the collapse in asset values for assets that can't be fully utilised during the pandemic. Furthermore, InfolinkGazette predicts that the situation will be made even worse by a knock-on effect which will see previously viable companies fail as a consequence of mounting unsecured and uninsured losses from corporate failures. To read InfolinkGazette's news release go to https://www.infolinkgazette.com/?pid=6.
UK businesses are facing significant cashflow challenges. Results from the latest British Chamber of Commerce (BCC) Coronavirus Business Tracker has revealed that 55% of UK businesses have reported a slight or significant decrease in their cashflow compared to last month. Of the minority (21%) who said that their cashflow position had improved, 64% reported increased customer demand, 35% cited the government furlough scheme, and another 24% and 25% respectively said loan and grant schemes had helped improve their cashflow position. Commenting on the findings, BCC Co-Executive Director Claire Walker said: "Business communities continue to face significant operational challenges, with a prolonged period of reduced sales and cashflow meaning many firms are showing signs of distress." To read the BCC's news release go to https://www.britishchambers.org.uk/news/2020/08/bcc-coronavirus-business-impact-tracker-summer-statement-schemes-fall-short-in-protecting-firms-and-jobs.
UK Trade Sectors & Economy
UK growth of about 15% is predicted in Q3 2020. The National Institute of Economic and Social Research (NIESR) has advised that the outlook for the UK remains highly uncertain and will depend critically on how the pandemic develops. The main-case scenario of NIESR's latest review, based on the assumption that there is no resurgence in COVID-19 or the reintroduction of lockdown measures, predicts that UK GDP will fall by 10% in 2020 and then increase by 6% in 2021. NIESR also anticipates that the level of economic activity in the final quarter of last year is unlikely to be regained before the second half of 2023. In the shorter-term, and with the assumption that COVID-19 remains contained, NIESR notes that the outlook for Q3 2020 is for growth of around 15%. However, this would still leave GDP in September approximately 10% lower than in February. To read NIESR's news release go to https://www.niesr.ac.uk/media/press-release-niesr-monthly-gdp-tracker-gdp-picking-after-recession-confirmed-14366.  
The UK economy is unlikely to regain its pre-COVID level until early 2023. KPMG's latest UK quarterly Economic Outlook forecasts a 10.3% decline of GDP in the UK in 2020, downgraded from the 7.2% predicted in June. This will leave the economy about 6.4% smaller by the end of the year than before the pandemic struck. However, KPMG also warns that a second lockdown of even just four weeks could exacerbate the drop in GDP to -12.6%. Looking ahead, KPMG's baseline scenario, which assumes that a vaccine will be approved in January and rolled out by the end of April, would result in GDP growth picking up to 8.4% next year and the economy reaching its pre-COVID-19 level by early 2023. However, even just a three-month delay in rolling out the vaccine could see GDP growth fall to 7.1% in 2021. To read KPMG's news release go to https://home.kpmg/uk/en/home/media/press-releases/2020/09/uk-economy-unlikely-to-reach-pre-covid-level-until-early-2023.html.  
UK manufacturing downturn eases after a survey-record dip. According to the latest CBI monthly Industrial Trends Survey, UK manufacturer output volumes continued to fall quickly in the three months to August. However, the pace of decline eased somewhat from last month’s survey record decline. Output volumes declined in sixteen of seventeen sub-sectors, with the headline drop in output driven primarily by the mechanical engineering, food, drink & tobacco, and motor vehicles & transport equipment sub-sectors. Both total and export order books also remained well below their long-run averages. Tom Crotty, Group Director at INEOS and Chair of the CBI Manufacturing Council, said: “It is clear that many firms remain in distress and the sector looks set for a challenging Autumn." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/manufacturing-downturn-eases-after-survey-record-dip-cbi/.  
Heavy discounting give the best in-store sales since February. According to BDO's latest UK High Street Sales Tracker, in-store like-for-like sales declined by -28.1% in August from a base of -0.1% for the equivalent month last year, marking seven consecutive months of negative like-for-like sales this year. Although this was the best total in-store result since February, this was primarily due to discounting in anticipation of the bank holiday weekend. Sophie Michael, Head of Retail and Wholesale at BDO LLP, said: "While the last week of August provided a moment of positivity, the reality is that this was largely a result of heavy discounting." To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2020/retailers-manage-to-stem-the-decline-in-retail-spending-this-month.
A quarter of UK Financial Services firms issued profit warnings in the first seven months of 2020. UK-listed Financial Services firms issued forty-two profit warnings in the first seven months of 2020, thirty-six of which cited the impact of the COVID-19 pandemic, according to the latest EY analysis of UK profit warnings. This means a quarter (25%) of UK-listed Financial Services companies issued profit warnings between January and the end of July this year - more than was recorded for the whole of 2019 and a 133% increase compared to the same period last year. To read EY's news release go to https://www.ey.com/en_uk/news/2020/08/covid-19-impact-felt-strongly-as-a-quarter-of-financial-services-sector-issues-profit-warnings.  
UK retail sales bounced back to pre-pandemic levels in July. According to new data from the Office for National Statistics (ONS), UK retail sales reverted to pre-pandemic levels in July, with a 3.6% rise in sales volumes between June and July taking overall sales to a level that was 3% higher than in February. However, although the latest data indicates that supermarkets and online sales (though down by 7% compared to June) have enjoyed strong year-on-year sales growth, other businesses such as high street clothing and footwear retailers, were still 25.7% below their pre-pandemic level. To read the ONS' news release go to https://www.gov.uk/government/statistics/retail-sales-great-britain-july-2020.
Licensed under the terms of Open Government. Licence v3.0.
UK GDP fell by 20.4% in Q2 2020. Latest data from the Office for National Statistics (ONS) reported that UK GDP fell by 20.4% in Quarter 2 2020 - its second consecutive quarterly decline. Commenting on the figures, Jonathan Athow, Deputy National Statistician and Director General, Economic Statistics at ONS, said: "It is clear that the UK is in the largest recession on record. Our latest estimates show that the UK economy is now 17.2% smaller than it was in February, the effects of which have been most pronounced in those industries that are most exposed to public health restrictions and the effects of social distancing." The impact of COVID-19 was seen right across the economy, with all the headline sectors, (and nearly all the sub-sectors) falling in the three months to June. To read the ONS' news release go to https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/june2020  
Licensed under the terms of Open Government. Licence v3.0.
Almost half of UK finance leaders do not expect demand for their own businesses to recover to pre-pandemic levels until after Q2 2021. The Deloitte CFO Survey for Q2 2020 has found that 78% of CFOs expect UK corporates’ revenues to decrease in the coming 12 months. This has eased slightly from Q1 - when 97% anticipated that revenues would drop over the year ahead but is, nonetheless, the second-highest reading on record. According to the survey, 80% of UK CFOs surveyed now feel there is a high or very high level of uncertainty facing their business, and 82% of finance leaders say they are unwilling to take risk onto their balance sheets. Overall, CFOs rank the effects of COVID-19 as the greatest risk facing their businesses, while geopolitics ranks second. To read Deloitte's news release go to https://www2.deloitte.com/uk/en/pages/press-releases/articles/deloitte-cfo-survey-q2-2020.html.
Largest UK recession on record . . . but there are signs of recovery. Latest data from the Office for National Statistics indicates that, although April to June economic output fell by 20.4% compared to the previous quarter (the biggest quarterly fall on record), there are some signs that the UK may now be past the worst. For example, UK retail continued to recover in July, with sales that were not only 3.6% higher than in June but also above their pre-Coronavirus levels in February and higher than in July 2019. The Purchasing Managers Indexes for both UK manufacturing and service sectors also showed growth, with increased consumer spending and a boost to hotels and restaurants from the Eat Out to Help Out Scheme. To read the House of Commons Library Paper go to https://commonslibrary.parliament.uk/research-briefings/cbp-8993/.
Licensed under the terms of Open Government. Licence v3.0.
Global Economy
GDP in the OECD area fell by an unprecedented 9.8% in Q2 2020. Following the introduction of COVID-19 containment measures across the world since March 2020, the OECD's provisional estimates suggest that GDP in the OECD area showed an unprecedented fall of 9.8% in the second quarter of 2020. This is the largest drop ever recorded for the OECD area - significantly larger than the fall of 2.3% recorded in the first quarter of 2009 at the height of the financial crisis. Among the Major Seven economies, GDP fell most dramatically, by 20.4%, in the UK, followed by France, at -13.8%. In the US, where many states introduced 'stay-at-home' measures in late March, GDP contracted by 9.5%. To read the OECD's news release go to http://www.oecd.org/sdd/na/gdp-growth-second-quarter-2020-oecd.htm
G20 merchandise trade plummeted in Q2 2020. The OECD has reported that compared with Q1, G20 exports fell by 17.7% and imports by 16.7% in Q2 2020 - the largest fall since the 2009 financial crisis. China was the only G20 economy to record export growth in Q2 (up 9.1%), following a 9.3% fall in Q1. India and Indonesia experienced particularly sharp falls in exports (down by 30.1% and 15.9% respectively) and imports (down by 47.4% and 18.5% respectively). Exports and imports also fell precipitously in North America: Canada, by 27.7% and 25.5% respectively; the US by 28.2% and 14.5%; and Mexico by 36.1% and 29.7%. Similar collapses were seen in Europe, with France, Germany, Italy and the UK seeing exports fall by 29.3%, 22.5%, 26.5% and 23.6% respectively while imports fell by 20.4%, 15.6%, 23.3% and 25.2%. To read the OECD's news release go to http://www.oecd.org/newsroom/international-trade-statistics-trends-in-second-quarter-2020.htm.
US bankruptcies are on track to hit a 10-year high as the pandemic rages. S&P Global Market Intelligence has warned that US bankruptcies are on pace to hit their worst levels in 10 years, with experts expecting even more companies to suffer as the Coronavirus pandemic stifles economic activity. A total of 470 US companies have gone bankrupt this year, including the high-profile retailers Ascena Retail Group Inc., J.Crew Group Inc., Lord & Taylor LLC, J. C. Penney Co. Inc. and Neiman Marcus Group Inc. This exceeds the number of filings during any comparable period since 2010. To read S&P Global Market Intelligence's news release go to https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-corporate-bankruptcy-count-in-2020-nears-500-as-filings-continue-to-climb-60249430.  
Global business environment risk remains at record heights. Dun & Bradstreet’s Global Business Impact score for Q3 2020 indicates that the risks confronting global businesses remain at the record-high first experienced in Q2. The elevated level of risk has been driven mainly by the outbreak of the Coronavirus pandemic, which Dun & Bradstreet notes, illustrates how unexpected events can suddenly worsen the risk environment for businesses operating cross-border. Dun & Bradstreet stresses that its findings underline the importance of having contingency plans in place for the sudden disruption of seemingly secure supply chains. To read Dun & Bradstreet's news release go to https://www.dnb.co.uk/perspectives/finance-credit-risk/quarterly-global-business-risk-report.html?serv=UPPCFOHP323204.
GDP decreased by 12.1% in the euro area in Q2 2020. According to a flash estimate published by Eurostat, GDP fell by 11.7% in the euro area and EU in the second quarter of 2020, compared with the previous quarter. These were "by far" the sharpest declines observed since time series started in 1995. In the first quarter of 2020, GDP had decreased by 3.6% in the euro area and by 3.2% in the EU. Eurostat also noted that, compared with the same quarter of the previous year, GDP decreased by 15.0% in the euro area and by 14.1% in the EU in the second quarter of 2020. These were also by far the sharpest declines since time series started in 1995. To read Eurostat's news release go to https://ec.europa.eu/eurostat/documents/2995521/10545332/2-14082020-AP-EN.pdf/7f30c3cf-b2c9-98ad-3451-17fed0230b57.
Credit Management News
The Chartered Institute of Credit Management presents – 'Managing the New Credit Future' – a collaboration with ITN Productions. The Chartered Institute of Credit Management (CICM) has announced that it will be co-producing a content series with ITN Productions to raise awareness and develop an understanding of the role of credit management in the current climate. The series 'Managing the New Credit Future' will address a variety of themes each centred around key areas affecting credit management in times of such deep financial uncertainty. Launching digitally in November 2020, the programme will form part of an extensive communications campaign. To read CICM's news release go to https://www.cicm.com/press-release-chartered-institute-credit-management-presents-managing-new-credit-future-collaboration-itn-productions/.
Forthcoming service aims to reduce the critical time delay between the actual decision to appoint Administrators and unsecured creditors being aware of the fact. InfolinkGazette has advised that it soon intends to begin offering a new service to clients which aims to reduce the critical time delay between the actual decision to appoint Administrators and unsecured creditors being aware of the fact. Greg Connell, Managing Director or InfolinkGazette, notes that occasionally the filing of a notice to appoint Administrators is picked up solely due to the fact that they form part of a Listed Company and are required by the Regulator to inform the Market of such events. When there is no such obligation, unsecured creditors are generally blindsided until the notice appears in the Gazette or is filed at Companies House. As Mr Connell stresses: "Clearly such a delay can make a huge difference to the quantum of any subsequent Creditor claim." To read InfolinkGazette's news release go to https://www.infolinkgazette.com/?pid=6.
New debt recovery company, Ko-bolt aims to provide the right tools for clients to reduce their days sales outstanding (DSO), manage their cash flow and protect themselves from the risk of bad debt. Well-known trade credit insurance professional, Karl Hague, has announced that he has founded a new service, Ko-bolt, a debt recovery company which will specialise in getting suppliers paid quickly by making use of the latest technology. The new service will also provide advice and support on improving cash flow so that business can be paid quickly and the buyer-supplier relationship maintained. Mr Hague told Credit Management News Digest: "I believe the commercial debt collection industry needs to change. We need to help businesses to overcome the problems they face in light of the pandemic and the upcoming exit from the EU. What’s required is a sympathetic consumer approach to a commercial problem.” For more information go to www.ko-bolt.com.  
LiquidX launches a new strategic product, InBlock. LiquidX has announced the launch of their product, InBlock, and the expansion of their closed network through strategic partner Flex. InBlock is a business-to-business asset digitisation network for trade finance and insurance which leverages blockchain technologies to create a private permissioned workflow engine integrated with machine learning, smart contracts and APIs. Jim Toffey, CEO of Liquid, commented: “We’ve spent the last two years building state-of-the-art technology tools for Treasurers that turns a manual, resource-intensive asset such as an invoice into a digital asset that can be serviced in one solution. InBlock yields an ROI of 3-5x by providing real-time visibility to the digital asset, which yields improved decision making for cash forecasting and working capital management.” To see LiquidX's news release go to https://www.globenewswire.com/news-release/2020/08/06/2074355/0/en/LiquidX-Launches-Strategic-Product-InBlock.html.
Over 10,000 UK SME business owners apply for a single £10,000 Business Boost grant. Simply Business, which launched its Business Boost grant at the beginning of 2020 to help SMEs, has reported it has registered more than 10,000 applicants for a grant offered to just one entrepreneur. Simply Business estimates that COVID-19 will cost UK SMEs £11,779 each on average, with a total cost that could reach over £69 billion. It also estimates that 41% of UK SMEs are at risk of having to close their business permanently. To read Simply Business' news release go to https://www.simplybusiness.co.uk/about-us/press-releases/10000-smes-apply-for-business-boost.
Small business owners can still apply for the Business Boost grant by clicking here. Applications are open until Monday 28 September, and the shortlist will be announced by 9 October.
Events & Offers
GTR Asia 2020, 8-9 September 2020. Singapore.
GTR Asia will return to Singapore from September 8-9 to host over 1,300 decision-makers and leaders from the global trade, export and fintech community. A leading global financial hub and home to a dynamic and thriving financial ecosystem, Singapore provides the perfect backdrop to explore the future of international trade and investment. 
Offering a truly global perspective and tackling issues with a forward-looking outlook, GTR aim to create events for those passionate about issues that define the trade finance world. Hosted for over a decade, GTR Asia is recognised as the world’s largest international gathering for local and international organisations: from banks to multinational corporations and SMEs, independent financiers, commodity brokers and traders, insurers and risk managers, lawyers, consultants, ECAs and multilaterals and many more. 
Attendees will gain valuable business contacts and learn from the leading figures in the industry; Hear fresh and challenging perspectives from over 100 of the world’s leading trade, treasury and fintech experts; Enjoy innovative content designed to foster maximum engagement between speakers and delegates, bringing all parties involved in Asian trade together for a two-day focused conference and networking exhibition. 
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
Commodities Trading Forum, 16 September 2020. Geneva.
Building on the success of 2019’s inaugural Geneva event and reflecting increased collaboration and partnership with the Swiss Trading & Shipping Association (STSA), GTR is delighted to announce that its newly expanded Commodities Trading Forum will be taking place at the Intercontinental Hotel Geneva on September 16, 2020. Co-hosted and held in partnership with both the STSA and PwC, and reflecting on Switzerland’s role as one for the world’s leading hubs for commodities from oil and gas to metals and agribusiness products, the conference will provide a comprehensive overview of the global commodities and commodity finance markets. Attendees will benefit from critical market insight and idea-sharing through a series of interactive and informative session formats, whilst unchallenged networking opportunities will provide access to over 200 different companies involved in the financing of global commodities. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
 TXF Global 2020: Export, Agency & Project Finance, 29-30 September. Madrid.
The global export, agency & project finance games return for 2020! Join TXF on 28-29 September in Madrid for the largest gathering of its kind with a vision to taking your network further than ever before.
With the CEOs of EKF, MIGA, US EXIM and more already in training for the Olympic games, along with 1000 of the industry’s key players, quite simply, this is the event you cannot afford to miss.
Packing the mightiest of punches, TXF Global will again combine keynote addresses from CEOs and state ministers outlining the future of industry, sustainability and digitisation, as well as infrastructure and project roadmaps. Mixed with detailed technical workshops, lively debate forums and regional roundtables TXF Global allows for an intimate networking environment like no other.
As a Credit Insurance News member, get an exclusive 15% off the standard ticket price using code: LETTHEGAMESBEGIN on the booking page.
Visit the website to find out more.
Digital Credit Management Conference, 1 October 2020.
The Credit Risk Management Conference held by SCHUMANN annually will take place on 1st October 2020 and will be held on-line for the first time in its 20-year-history.
The Conference offers credit & risk managers from different industries the opportunity to discuss best practice and market trends affecting credit risk management in their business fields. Panel discussions, lectures and presentations will be divided into four tracks and will focus on the topics
  • Risk assessment in times of crisis 
  • Debt collection management & liquidity planning 
  • Technology & Innovation
  • Compliance
Leading experts and industry representatives will discuss the effects of the Corona crisis on the market and the adaptations required. This includes the development of technical innovation and the digital transformation of all credit risk related processes.
“Credit risk managers should move closer together as Corona becomes a digitalization driver. The Conference gives insights in a technological platform for all business partners who need to cooperate digitally”, says Robert Meters, Head of Marketing & Sales, Global Business and Financial Services.
The Conference addresses managers specializing in finance, credit and risk management, compliance, debt collection, strategic controlling, digitalization and IT.
Registration is free of charge. For more information and registration, visit here: https://www.prof-schumann.com/conference.
GTR East Africa 2020, 1-2 October. Nairobi. 
GTR East Africa marks its 11th annual conference in Nairobi, Kenya in October 2020, where a cutting edge agenda will explore the key macroeconomic, geopolitical, financial market and tech trends shaping the East African trade finance landscape. This two-day conference provides GTR attendees with a unique opportunity to network with over 350 delegates all under one roof.
Don’t miss your chance to join leading corporates and trade specialists for two days of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR US 2020, 28 October 2020. Chicago.  
GTR US 2020 will return to Chicago for its fourth year in October 2020, where US companies and their financing partners will meet to discuss the evolution of the trade, supply chain and working capital space. Featuring a host of expert speakers, the event will provide the latest business intelligence required to navigate trade-related risks, and the practical know-how enabling those tasked with facilitating US commerce to form resilient, agile trade financing and risk management strategies. With leading corporates, banks, financiers, insurers and digitization specialists in attendance, this event is not to be missed for those looking to create crucial industry contacts and optimize their trade business. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR UK 2020. 2 November. London.
GTR UK 2020 will take place in London in November, bringing the trade community together to discuss the potential implications for corporates, financiers and policymakers alike. The event will also consider the important role that all stakeholders have to play in promoting British businesses abroad and seizing on the huge opportunities to secure the UK’s future prosperity, with a strong focus on the role of the financial services community and the UK government in developing a global network to support trading companies. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
GTR Nordics 2020, 12 November 2020. Stockholm.
After many consecutive years of attendance growth we are delighted to announce that GTR Nordics 2020 will take place on November 12, moving to the larger event space at the Radisson Blu Waterfront, Stockholm. While offering a more comfortable space to mingle, this also provides the opportunity to add some exciting new event features. GTR Nordics 2020 promises to be the biggest and best yet: Watch this space for more details as we move towards the conference date! Last year GTR Nordics returned to Stockholm and welcomed another record-breaking audience of over 500 trade finance experts, insurers, bankers, ECAs, technology innovators and corporates of all sizes. 
Don’t miss your chance to join leading corporates and trade specialists for a day of discussion, debate and networking. Limited amounts of complementary corporate passes are available to those who are exporters, importers, manufacturers, distributors, traders & producers of physical goods only. For more information, visit here.
Professional Training
New Stecis’ courses in Trade Credit Insurance and Surety.
End of September – start of October 2020.
After having cancelled all April courses in 2020, Stecis’ pics up the pieces again end of September. All classroom courses in various levels of Credit Insurance and Surety are led by professionals from the industry. The courses are meant for starting and experienced professionals who are working in the Trade Credit Insurance and Surety industry and for all other interested parties like reinsurers, brokers and lawyers. There are courses on offer that will cater for the level of knowledge you are looking. Also it is a perfect way to enhance your network within the industry. So please check the course descriptions and course dates on our website www.stecis.org – where you are able to register for the Stecis’ courses.
About the Sponsor: Atradius
With first-class service and unrivalled expertise, we help customers build robust trade strategies and become an intrinsic part of their businesses. 
We offer cutting-edge tools, real-time insights, worldwide business intelligence and decades of experience to steer customers away from risk and seize new opportunities.
Let us help you.

For more information and to access a suite of free downloadable economic, country, sector and payment practices reports and export guides, visit www.atradius.co.uk or follow AtradiusUK on LinkedIn.
Copyright ©2020 Credit Insurance News. All rights reserved.
All news stories on Credit Insurance News' website are included with the prior permission of the copyright holder. Reproduction or redistribution in whole or in part, in any manner, without the express prior written consent of the copyright holder, is a violation of copyright law. If you, or your organisation wish to redistribute, republish or link-to all or any part of any Credit Insurance News Digest, you must first contact the copyright holder direct or email sally.brown@creditinsurancenews.co.uk for further information.

Terms and Conditions                         Privacy and Cookie Policy                    © 2019 Credit Insurance News