FCIB’s Credit and Collections Survey: An invaluable resource in any global credit professional’s toolkit

There is a lot to consider when assessing the risk of international transactions, making real-time information on risk trends incredibly valuable to credit managers tasked with making quick decisions. With supply chain issues, tariff confusion and global conflict growing, assessing the risk of an international transaction is harder.  

FCIB’s Credit and Collections Survey collects feedback from global credit professionals across industries on factors impacting the inherent risk of extending credit in different countries and how to reshape your credit approach to account for these idiosyncrasies. Each month, the survey gathers information from respondents on methods of extending credit and emerging risk factors in a different set of four countries.  

“It’s really the only survey of its kind,” said Rocky Thomas, CCE, CICP. “It gives our members a benchmark on the current environment in those countries so they can understand the risk levels. If they already have customers in those countries, they can compare their experience to what other members are seeing. If not, the insights still offer a valuable look into the countries’ business environments.”

By completing the survey every month, credit professionals are able to contribute to the collective knowledge of all respondents, with the results being shared with all those who complete the survey. The information collected focuses on metrics credit managers use in their day-to-day work, from payment terms to days late to pay.  

Whether they’re venturing into a new global market or evaluating how their peers are handling similar challenges, the Credit and Collections Survey can help credit professionals refine their approach to managing international customers. “It’s not just about customer dynamics, it’s about country dynamics,” Thomas said. “Geopolitical tension, supply chain issues, foreign exchange rate, central bank issues, customer payment policy: these are all driven by a country’s broader economic and cultural environment. So, if you’re seeing problems, it might not be about your customer, it could be influenced by the conditions in their country.” 

While each industry faces struggles unique to its business and field, the survey offers meaningful perspective on country-specific risk trends. “Our business might not look exactly the same as other companies, but if you see that customers are extending terms dramatically in Brazil, it’s reasonable to expect we could be affected as well,” said Jessica Riviere, CCRA, ICCE, senior director of finance at BDP International, Inc. (Philadelphia. PA).  

Risk shifts with each passing day, and the ideal practices for business in one country can change over time. The survey provides an opportunity for credit professionals to advise one another on how best practices vary from country to country depending on a variety of factors.

Respondents are able to write comments on unique trends they’ve spotted and advise fellow global credit professionals who may do business in the surveyed countries. “The know-your-customer process is essential in Malaysia,” one respondent commented in a previous survey. “You must do your diligence to find the ultimate business owner.” Another respondent added that in Egypt, credit managers must “have local data on customers, because Egypt is not required to share as much insight as other countries.”   

The bottom line: By completing the Credit and Collections Survey, credit professionals can meaningfully contribute to a larger knowledge base that serves the profession. The results of the survey are strengthened as more credit professionals share their unique global credit experiences, further refining what best practices look like when doing business internationally.  

The Credit and Collections Survey is open now until August 5. Your input helps build a real-time view of country-specific risk trends and supports the entire credit community in making more informed international credit decisions.