Webinar Wrap-Up: Credit Frontier 2024

What a session! A huge thank you to our speakers – Shaun ReesMarkus Kuger, and special guest Ray Massey – for a deep dive into 2024’s economic and credit landscape.

Here’s a quick recap for those who joined us and a glimpse for those who missed out:

📊 Economic Update 2024:
Markus Kuger revealed key economic indicators facing weak growth and rising credit risks. Insights into sectoral trends showed a mix of resilience and challenges, with services leading improvements but basic materials and consumer goods lagging. Consumer confidence has shown slight improvements, but inflation and global GDP growth projections indicate a cautious approach for 2024.

🌍 Insider’s Perspective from Insurance:
Ray Massey‘s keynote brought a unique underwriting perspective, discussing the all-time high in corporate insolvencies and the significance of maintaining robust relationships with credit underwriters in challenging times.

🏗️ Credit Risk and Business Impact:
Shaun Rees provided an in-depth analysis of how these economic trends translate into direct impacts on businesses. From technical recessions to inflationary pressures, the session highlighted the importance of strategic risk management and adaptive credit strategies in an uncertain market.

Key Takeaways

  • Prepare for a challenging year ahead with potential technical recessions.
  • Anticipate continued inflationary pressures but with some subsidence.
  • Adapt to rising credit risks with strategic adjustments in risk assessments and collection strategies.
  • Embrace a proactive approach in credit management, leveraging insights into sector-specific trends and economic indicators.

As promised, attendees will shortly receive an exclusive detailed report from our speakers for a deeper understanding. Keep a look out for this tomorrow.

Missed the live session? Want the report? Don’t worry, you can still register to watch the recording and access the report here: LINK

Stay tuned for more updates. In the meantime check out all the complimentary resources at Global Outlook.

New! EU Late Payment Directive Report

The “EU Payment Directive 2024: Navigating New Norms” report is an indispensable resource for professionals navigating the complexities of the revised European Payment Directive (Directive 2011/7/EU). This detailed study presents a thorough analysis of the directive’s significant regulatory overhaul, impacting commercial transactions within the European Union.

Tailored for credit managers, legal experts, and policy analysts, this report dives deep into the directive’s key revisions: uniform 30-day payment terms, stringent enforcement mechanisms, and a strong focus on digital financial tools. It dissects the directive’s industry-specific implications, offering a critical view on how sectors like manufacturing, construction, and retail are adapting to these changes.

The report provides an exceptional exploration of the directive’s effects on international transactions, especially considering the post-Brexit landscape. It also anticipates future amendments and their potential impacts on businesses operating within and outside the EU.

“EU Payment Directive 2024: Navigating New Norms” is designed to equip decision-makers with strategic insights, enabling them to effectively respond to the evolving EU commercial ecosystem. It’s an essential guide for those seeking to understand and leverage the new regulatory environment for business growth and compliance.


🔗 Download “EU Late Payment Directive Reporrt” Here: http://www.bakering.global/product/france-spotlight-2023/

Spain Spotlight 2023

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Presented by Baker Ing: For High-Value and Highly-Sensitive Accounts Receivable

As Spain continues its economic recovery, opportunities abound for growth-oriented companies. Baker Ing stands ready to support your success, leveraging in-depth expertise in the Spanish market to inform strategic decisions. Our services, relied upon by leading organisations, enable proactive planning and incisive action.


RiskPulse Dashboard: Precision at Your Fingertips

The full Spain Spotlight 2023 report is available to view online here anytime at no cost for your convenience. However, you may also download the entire report in PDF format from Global Outlook if you prefer an offline viewing experience. While the downloadable version provides portability, we recommend viewing the report online here for the best interactive experience, including dynamic updates not available in the PDF version: download


Recognise the value of strategic partnership

Envision the transformative impact of aligning with focused expertise. Engage with our team of credit professionals, each dedicated to creating bespoke solutions tailored to your unique needs in Spain: Contact us

The Changing Tides of France's Trade Credit

In the streets of Paris, cafes bustle with conversations about politics, art, and lately, the state of the economy. Amidst the whiff of freshly baked croissants, another aroma lingers: the subtle scent of financial anxiety. As France grapples with the aftershocks of global events, businesses find themselves in a peculiar position, especially when it comes to credit.

Once considered a routine part of doing business, extending credit to trade partners in France has evolved into a high-stakes game. Businesses are increasingly contending with longer payment terms. In fact, the average payment period has stretched to 53 days, significantly longer than the traditional 30-day norm. This extension reflects a broader shift in the French economy, characterised by the impact of global disruptions and local political decisions.

But what does this mean for businesses on the ground? The answer is clear: collections have never been more critical. Ensuring that invoices are paid on time has become both an art and a science. The challenges of the modern economic landscape require a nuanced approach to collections, one that melds digital innovation with the age-old power of relationship building.

Here’s the crux of the matter: while longer payment terms might ease immediate pressures on buyers, they can strain supplier relationships and threaten the financial health of businesses that don’t have robust collections processes in place. And, as state-guaranteed loans become a double-edged sword, the risk of default grows.

For businesses in France, navigating this terrain demands a sector-specific approach. Different industries face distinct challenges. The hospitality sector, for example, has been hit hard by the pandemic and political unrest, leading to a spike in insolvencies. On the other hand, France’s tech startups, bolstered by a supportive ecosystem, offer a brighter picture, with fewer defaults. Recognising these differences within the broader macroeconomic context is key.

It’s not just about chasing overdue payments. Collections in this new era are about understanding your customer’s position, offering flexible solutions, and leveraging digital tools to streamline processes. Businesses need to be proactive, anticipating challenges before they arise and addressing them in a manner that balances financial prudence with empathy.

Navigating the multifaceted economic landscape of France requires an in-depth understanding. From the ripples of the Russia-Ukraine conflict to the ever-present spectre of inflation and the complexities of energy prices, the challenges and opportunities are abundant. But how does one manoeuvre through these challenges and harness the opportunities?

For a comprehensive analysis, insights, and guidance tailored specifically for Credit Managers, consider the latest “France Spotlight 2023” report. This meticulously curated document delves deep into the current economic status of France, offering a thorough examination of market trends, political shifts, and their implications on trade credit decisions.

The French saying, “C’est la vie,” or “Such is life,” captures the essence of acceptance in the face of unpredictability. But when it comes to trade credit in France, acceptance isn’t enough. Businesses need strategy, foresight, and adaptability. As France’s trade credit environment continues to evolve, those who master the art of collections will not only survive but thrive, turning challenges into opportunities.


Chris Snelson, CFO, Baker Ing International 


🔗 Download “France Spotlight 2023” Here: http://www.bakering.global/product/france-spotlight-2023/