Episode 28. In today's interview, "Credit Control Opportunities for Accountants with Glen Morgan."
Glen set up Credebt Ltd in 2009 to become one of the leading providers of Receivables Management services in the UK, working for Insolvency Practitioners, Invoice Finance companies/Other Charge holders and their clients. He has worked in the Collections industry for 28 years and is a Fellow of the Chartered Institute of Credit Management. He has written several syllabus and training courses on the subject of effective Credit Management and also advised UK Government regarding the impact of late payment on small businesses. In 2019, he set up Itsettled, the UK’s first fully automated Collection’s Platform to help businesses improve their cashflow position.
Key takeaways from this episode include:
➤ the pressures faced by businesses currently, and why they are turning to accountants as their trusted advisors
➤ why 2022 will be very challenging for companies now that government support is no longer available
➤ how accountants can help businesses with cashflow management and access to tools/resources that help their clients
➤ why accountants can only be trusted advisors to businesses if they have stayed up to date with the changing world
➤ what gives big businesses the edge over smaller ones when formulating credit policies
➤ why very few accountants are comfortable offering credit control and credit management services to clients
➤ the staggering amount of money owed to small and medium businesses at any given time (in the UK and likely globally)
➤ what separates the good accountants from the great ones in challenging times
➤ how accounting firms have changed in pandemic times and what drivers push any change
➤ the increasing challenge accounting professionals have in keeping up to date with fintech advancements
➤ advice for accounting leaders who feel pressured by the agenda of vendors selling software and technology
➤ the ItSettled proposition and how it helps the clients of accountants manage their credit with full integrations to collect owed monies
➤ critical steps for accounting firms in adding credit control as an additional service for their clients
➤ what good credit control looks like and the key word that should govern any credit management offering for accountancy clients
➤ what is coming up for the accounting profession in the next few years and the economic outlook for businesses
➤ what has contributed to the late payment problem for businesses, particularly with governmental interventions
➤ the most satisfying aspects of providing credit control and positive cashflow management for businesses
➤ what questions an accountant could ask to create credit management opportunities and a call to ItSettled or Credebt
➤ signs that a company may require credit control measures from their professional advisors
➤ words of encouragement and advice for accountants who want to serve their clients in the best possible way
Glen has been married 18 years, is a keen runner and spends most of his spare time with his 2 kids and watching MCU. You can reach him here:
www.linkedin.com/in/glenmorgan
www.twitter.com/morgangfm
www.itsettled.co.uk/for-accountants
NOTE TO LISTENERS:
The Accounting Influencers Podcast is a CPE-accredited daily radio-style show with four segments coming out every Monday which are repeated on the other 4 weekdays as standalone episodes, plus a bonus 'from the client's perspective' episode on Saturdays. On Sundays, listeners get a short min trailer for the coming week's episodes.
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