Credit monitoring is a key tool in managing risks and maximizing revenue. Often, being the first to know about financial distress can help creditors ensure collection of their assets from distressed accounts. The converse is also true. Quickly spotting accounts on their way up provides opportunities for growth that may not be there for latecomers. Effective use of credit monitoring can help credit managers partner with customer who are on the way up and limit exposure to those on the way down.
Small business activity in Canada outperformed the broader economy in the earlier part of the recovery. Small and medium enterprises benefitted from their largely domestic focus and lack of exposure to international competitiveness and weaker international demand, according to a study published by Canadian Imperial Bank of Commerce (CIBC) this month.