The Lifeblood of Business - The Economic Update (January 2012)
26/01/2012
'Credit is the oil that keeps the wheel turning’ and ‘Cash flow is the lifeblood of a business’.
Having no commercial objectives, MACM strives to attain its corporate purpose through three critical routes:
a. Lobbying for a better credit environment in Malta;
b. Promoting good credit management practices with the local business community;
c. Providing the appropriate tools and pertinent credit information to its members in order to analyse and monitor the credit worthiness of customers in an efficient and cost effective manner.
Attached please find full interview featured on The Economic Update, January 2012.
Follow Josef Busuttil, Director General, Malta Association of Credit Management on The Economic Update.
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Limited Liability has a price tag
26/01/2012
Exempting companies from having to file audited accounts will hamper the economic recovery rather then assist it.
Limited liability, as far as corporate bodies are concerned, has always been a privilege – the privilege being that the entrepreneur can operate without the fear of losing his home or his personal assets. But everything has a price tag and this privilege also has to come at a price, and the price happens to be full disclosure of audited accounts.
Please find attached full article.
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Strategic Cash Flow Management
06/10/2011
Strategic Cash Flow Management
The Malta Business Weekly – Thursday, 5th October 2011
By Josef Busuttil
Director General
Malta Association of Credit Management
“When speaking about cash flow management, one would immediately think about the collection of money, late payments, Days Sales Outstanding, and bad debts. But sound cash flow management entails much more.
In this day and age, firms should develop their strategies in a holistic and comprehensive manner. All departments and business functions should contribute and work as one team. And the credit function is not the exception to this rule. The credit function is central to an organisation and has a lot to offer for the survival and long-term profit of a firm.
The role of the credit function is far from crunching numbers and making boring collection calls. An effective credit function’s role is that of meeting customers’ needs and demands. The credit practitioners should be those skilled people who strive to find ways of saying “yes” to profitable sales. They should be trained to gain and sustain competitive advantage in a turbulent business environment where customer loyalty does not exist any longer.”
Attached please find full article.
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