As a company director, you need to understand the financial health of your business so that you can evaluate and monitor its performance and make the changes necessary to improve its profitability. In particular you should be familiar with the key aspects of financial management, such as controlling and forecasting your cashflow, budgeting, credit control and debt recovery.

Typical questions

• I need some guidance on managing my cash flow?
• Can I claim interest from late-paying customers?

For answers to these questions and others please log in to the Directors' Information Gateway (DIG) with your IoD membership number and password, or contact us for further assistance.

ICM/BERR Cashflow management guides

The Department for Business Enterprise and Regulatory Reform (BERR) in partnership with the Institute of Credit Management have developed a series of guides on this crucial aspect of running a business.

• Knowing your customer
• Payment terms
• Invoicing
• Treating suppliers fairly
• Credit Insurance
• Factoring and financing options
• Chasing payment
• When cash runs short
• When all else fails
• When your customer goes bust

Did you know?

Did you know that as an IoD member you can:

• receive free and independent advice on accountancy and finance issues by contacting the Directors' Advisory Service