I believe most readers, just like myself,
feel they vaguely understand what credit management means. My
specialty is in the corporate strategic management field, with some
brief encounter with financial management and credit management in
university studies and other qualification studies. My
understanding was that credit management equals receivables management;
a concept connected to the ‘triangular debt’ 1 and
‘debt collection companies’ in the economic circumstances of 1990s;
a burden to corporations and enterprises, hardly connected to other
aspects of corporate management – until I had an opportunity to read
this book. Indeed my former appreciation of credit management was
rather superficial. Credit management is a fundamentally important
part of management. Not only does it concern healthy cash flow,
the lifeline of any corporation, it also directly influences sales and
customer relations. These are all strategic resources that
determine a firm’s future. I think this is the core message that
the authors want to convey in this book. I hope readers will grasp
I have enjoyed greatly reading this book as
it has presented this complex subject in a very light and lively manner.
The authors have summarised the entire world of credit management within
an effective length, focusing on the practitioners’ perspective.
Credit management involves various specialist
fields of knowledge; from an assortment of international laws to
international banking practices. The challenge of successfully
managing in all of the required fields of expertise is daunting.
However the authors have developed a very clear structure to accommodate
all practical aspects of credit management. They have included
very lively dialogues of theoretical discussions that bring the complex
theories to life. Readers are enabled to understand various
concepts and practices with ease and thoroughness. I believe not
only professional managers but also amateur readers will all find this
is an easy-to-read and easy-to-use book.