27.10.2010

The importance of credit management continues to rise for risk managers

Munich, 27 October 2010 - There has been a marked increase in the importance of credit management in the past two years, according to feedback from credit risk management experts meeting at the Customer Risk Expert Lounge in Munich at the beginning of October. The business and IT consultancy firm SHS VIVEON had invited credit and risk managers from all industries to Munich.
The SHS VIVEON Expert Lounge is a half-day networking event for experts and decision makers in every sector, focusing principally on exchanging experiences and ideas on current issues and new challenges within credit and risk management.

"The lectures and subsequent discussions demonstrated that credit management, when well-structured, enables companies to form secure plans for the medium to long term - even in times of crisis - and affords them a great degree of stability", remarked Dr. Jörg Seelmann-Eggebert, Head of Customer Risk and member of SHS VIVEON's Management Board. Summarizing the Expert Lounge's core message, he continued: "The economic crisis of the past two years has made this plain, with companies' acceptance of credit management hitting a whole new level as a consequence. Modern credit management thus requires increasingly robust management skills. In the future, the focus of this corporate field will be on effective customer retention strategies - particularly in those critical and extremely sensitive phases of a customer relationship such as payment defaults."

Horst Döller, auditor and certified credit manager at the TÜV Rheinland Group thought that the practitioners' lectures "showed that planning, managing and monitoring credit is becoming an increasingly important part of corporate strategy", adding that he was "particularly struck by the extent to which the companies attending were already actively implementing and applying qualified credit management processes and how the positive effects of this were reflected in their corporate success".

"Credit management of the future will have to cater more closely to each customer's individual position within the market and their specific needs in order to be able to perform its task as a connective link between risk management and sales" according to Reinhold Ittermann, Head of Credit and Collection at Ingram Micro Distribution GmbH. 

And Prof. Dr. Karl Frauendorfer of the University of St Gallen's Institute for Operations Research and Computational Finance added: "Interest terms on credit will, in the future, hinge more heavily on creditworthiness. I find it entirely conceivable that in the future, credit spreads dynamics (i.e. the dynamics of interest mark-ups vis-à-vis virtually failure-free government bonds) will turn out to be stronger than interest rate dynamics. This will increasingly require that industrial companies and service providers implement a risk-based system of trade terms for clients (risk-based pricing) in order to properly document the customer portfolio's risk transparency and thereby the company's own risk capacity."

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