A blog by Martin Williams, external affairs spokesman of Graydon UK, focusing on business risks - from fraud to late payment. Martin has has spent the last 35 years in the credit information industry, and has been with Graydon UK, one of the top five commercial credit agencies in the UK, for the last 20. Apart from his PR duties, he teaches credit analysis to risk professionals and helps educate SMEs on the importance of maintaining a good credit rating. Martin is a Fellow of the Institute of Credit Management and is a sitting member of the Institute's Think Tank. He was also honoured by Credit Today, after being included on their Credit 100 list of people who have had the greatest impact in the credit industry during 2008, 2009 and 2010.
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27 Nov 2007
Just heard a story about a due diligence exercise carried out by an accountancy firm that saved its client money! It was an acquisition situation, and the acquiring party wanted to look at the credit risk within the top 20% of the potential acquisition's sales ledger. Lo and behold, 87% of this bunch of customers were rated above normal or high risk on Graydon's database. Negotiations continued afterwards of course with the acquirer duly concerned about the degree of risk within the trade debtor asset. It turns out that the acquirer appears to be going ahead- not only have they got the price down for the purchase of the company, but it sounds like the new owners may have some ideas about how they can improve credit assessment there!
Visitor comments
Love, love, LOVE this blog! You say everything that Im thinking and more. Youve definitely shed light on a subject that not many people can argue with. Youre so good at getting what you want to say out there in a way thats intelligent and entertaining. Im really impressed, man. REALLY impressed.
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