Risk Management

RISK MANAGEMENT SOLUTIONS FOR BUSINESS

Risk Management, Risk Management, and Risk Management Christchurch

Risk management is the identification, assessment, and prioritisation of risks followed by co-ordinated and economical application of resources to minimise, monitor, and control the probability and/or impact of unfortunate events.
 
After the earthquake in Canterbury on 4 September 2010 many businesses realised that their Risk Management strategy was lacking or needed to be improved.  From the complete destruction of premises, to your customers or staff not being able to enter your premises due to damage down the street, left many businesses reviewing their Risk Management.  Would your business survive if your premises were destroyed and with it your computer and data files?
 
Risk Management Christchurch.com specialise in Risk Management in relation to debtors and the "risk" versus the "reward" equation in making the sale and the risk of not being paid.

If you are selling to a Government Department with an official purchase order signed by the appropriate person the "risk" in this transaction is very low. The chance of you not being paid is almost negligible.   However,  if you were selling goods or services to someone like Mr A O'Neil or one of his companies (prior to his bankruptcy) the risk was extremely high.
 
Risk Management weighs up the "risk" of selling to a particular individual or company versus the "reward" (the margin) that you would make on the transaction.  Many firms have a standard price for a group of customers (usually based on sales) and there is no or little Risk Management assessment of the individual customer.

For example:  If a sale to Mr A O'Neil was grossing a 20% margin, the risk of doing business with this customer was just not worth making the sale.  If the gross margin was 100% the risk assessment was still very high but the reward (margin) much greater, making this a much more attractive proposal. In business we need more risk management assessment of customers and a pricing structure that reflects the risk of that particular customer.  Not one based on the volume or dollar value of sales.

---

We are specialists in this area with 30 years experience. If you need help with Risk Management, call us and we will come out and visit your office, discuss what you need and offer suggestions.

Alternatively, come and have a coffee with us at 96 Rugby Street, Merivale

What are the advantages of outsourcing your Credit Control?

1. Peace of mind with your debtors
2. Frees up your time to spend on the other important parts of your business
3. Highly qualified, trained, specialist credit managers
4.  Proven record in reducing the overdues
5. Seamless – your clients have no knowledge that the work is being done by a contractor
6. For all intent and purposes we are your "in-house" credit managers
7. We are passionate about what we do, strong work ethic, very loyal and reliable (we have contracted for over 10 years with two different companies)
8. Fixed cost price per month
9. No Holiday Pay, no Sick Pay, no ACC etc

Risk Management in relation to Credit Control is not hard but many managers/owners are afraid they will upset  the client by asking for your money to be paid.   However, you need to be paid for the business to function effectively.  We will achieve both and give you "Peace of Mind"

---

For Risk Management Christchurch call us on 03 355 6291 or email gary@CreditAdvice.co.nz

If you are not sure if this will work in your business we have testimonials that we can show you.  We encourage prospective clients to phone  the CEO or CFO of my existing clients and ask them, they will tell you warts and all.

For further information please visit our main website: CreditAdvice.co.nz