A joint survey: Corporate Credit Risk Management in Australia was conducted to better understand the domestic and international payment behavior of companies in Australia. The fieldwork was undertaken between 9th and 15th October 2009 via an online survey. The survey was completed by business executives, business owners (including small business owners/general managers), CEO/CFO/Credit Managers/Financial Controllers across Australia.

The survey revealed that companies are extending more credit to Australian customers rather than export clients. More than half (57%) of the businesses surveyed have above 75% of their revenue on credit terms with customers, and outstanding payments and bad debts are reported as being on the increase.  Despite this exposure, 28% of financial managers and business owners surveyed had no credit management tools in place.  A further 32% of companies surveyed claimed debt collection the most important credit management tool. 

To read the full story click on the link: Veda Advantage

BIIA Newsletter January 2010 Issue