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 this message.
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.
Another precious value of this
book is that it has provided lots of examples and details to help
practitioners to tackle the real issues in management practice.
This provides direct aid to improve Chinese firms’ performance
in international transactions.
