Credit Manager Risk Toolkit by Lockton & CreditorWatch
Lockton, the world's largest privately owned insurance broker and CreditorWatch, a leading Australian data company that offers a complete suite of credit reporting products have partnered to produce the attached Credit Manager Risk Toolkit.
Together, Lockton and CreditorWatch have observed the evolving role of Credit Managers and have highlighted throughout the report some of the risks Credit Managers are not paying enough attention to, such as:
An increase in shortcomings in Business Interruption (BI) Insurance.
Risk of customer contract penalties, and the inability to pass on.
If a third party fails to deliver, or suffers a breach, the organisation that utilises the vendor will face the consequences.
Data shared between external vendors (supplier, vendor, contractor, or service provider) can be exposed to cyber-attacks.
Additionally, throughout the report, key considerations, and suggestions as to how Credit Managers can respond are included, as well as comments from CreditorWatch’s Chief Economist, Anneke Thomson, and Director, Ali Zoabi on each of these matters.
