Credit Management is a function performed within a business to improve and control credit policies that will lead to increased revenues and lower risk, including increasing collections, reducing credit costs, extending more credit to creditworthy customers, and developing competitive credit terms.
The FCM was founded in 2010 to fill the vacuum that exists in having a united Credit Management Industry approach to all facets of credit in South Africa. The FCM is not a controlling body, it is a forum, comprised of partner organisations, companies and individuals, each whom seek to bring attention to issues that are of importance in credit management. Each such partner that comprises the FCM maintains control over its own operations or constituency.
- to promote best practice in credit management.
- enabling the credit fraternity to share their knowledge and experience,
- leveraging experienced local and global established networks,
- contact with reputable experts to assist with complex credit management matters, and
- actively encouraging partners to build relationships with and through each other.
The FCM does not provide exclusive endorsements, but strive to provide introductions to other firms and encourage partners to conduct their own evaluation of third party proposals for credit management, as a matter of sound business practice.