Source: Accounting Office Management & Administration Report

According to the Credit Research Foundation (CRF), there's been a dramatic shift in your business clients' top concerns. Understanding these changes can help you better meet their needs.

Here are some highlights from CRF's findings:

• Fifty-four percent of companies have shifted their focus from revenue and market share to cash flow and profitability.
• Sixty-one percent of business credit professionals say they are “now under a directive to accelerate cash flow and turn their AR faster.”
• Sixty percent have been instructed to reduce overall risk in the AR portfolio.
• The percentage of companies increasing their bad debt reserve jumped from 50 percent in November 2008 to 62 percent in May 2009.
• The percentage of respondents reporting an increase in customer bankruptcies rose from 45 percent in November to 69 percent in May.

For the complete article and supporting tables, click here.

From Accounting Office Management & Administration Report, Institute of Management and Administration, Inc., Newark, NJ, subserve@ioma.com, October 2009, p. 4, “Cash Flow & Profits Are Now the Top Concerns of Your Business Clients.”