Follow the money – Meet the NMBS credit control and cash allocations team

Turnover is vanity, profit is sanity, but cash is king. In the wake of one of the most difficult periods for independent merchants, that old adage feels truer than ever, and explains why the industry is so very focused on finance.

To help merchants improve cash flow, increase their purchasing power and refine their financial processes, NMBS has a dedicated credit control and cash allocation team.

Marko Samardzija, head of credit at NMBS, explains how his team helps members manage their credit as the main point of contact for payments.

The credit control team supports merchants by managing credit risks and cash allocation and ensuring all payments are paid on time and are recorded accurately.

Support members

The team works closely with the members to assess financial records and trading histories to find suitability to increase credit limits. This allows members to grow their businesses and take advantage of bulk purchasing or new opportunities, improving their overall profitability.

The team is also a vital point of contact for members with payment-related questions. They proactively carry out in-person meetings to better understand the members’ financial positions and payment challenges. These conversations allow the team to build trust and address challenges with merchants before large issues arise. This personalised approach means the team can offer tailored solutions and, in specific cases, offer solutions like temporary cash flow support, to help members stay on track during tough times.

To ensure the credit control and cash allocations team perform to the highest standard, they are externally audited twice a year. This process allows merchants to have the confidence that the team is adhering to credit policies and that the credit limits and procedures are justified.

A growing team

The NMBS credit control and allocations team has grown significantly in recent years – of the 12 team members, seven have joined in the past three years. This rapid growth has added new skills and has allowed the team to provide a more tailored service to members.

The credit control and cash allocations team has implemented an escalation process that allows more challenging credit issues to be dealt with by a senior member of the team. This enables members to seek the advice of multiple NMBS employees and ensure the issue is resolved.

By focusing on improving cash flow and refining financial practices, the team helps members overcome challenges, have improved merchants’ purchasing power and resolve any financial challenges they are facing.

As Marko points out, “We are more than just the main contact point for merchant payments. The team deeply understands the financial challenges for NMBS members and how to support them. Our work strengthens the independent merchant sector and helps businesses have improved purchasing power and profitability.”

This will help ensure greater visibility and coverage against NMBS’s credit risk management processes.

Learn more about how the team can support your business on the NMBS website https://www.nmbs.co.uk/meet-the-team/.