Managing credit and collection during the pandemic

Collecting accounts receivables (A/R) is the lifeblood of any business, but the global recession has placed tremendous pressure on business operations. Many are struggling to stay afloat while others have completely shut down operations, which makes A/R collection challenging.

A 2020 global study by CRIBIS Dun & Bradstreet revealed a deterioration in business customers’ punctual payments to their suppliers. In its June 2020 Asian study, which included Thailand, Taiwan, the Philippines, India, Hong Kong and China, Thailand showed the highest degradation rate on on-time payments at 15.4 percent, followed by the Philippines at 5 percent and Hong Kong at 3.1 percent.