The relationship with the banks
Whoever feels an impact on revenue and costs, fears loan covenants. 22% of companies surveyed believe that the banks will want to review the covenants. But from our conversations with bankers, it is clear that they simply prefer a better follow-up. They want more transparency, but they are not immediately thinking about doing reviews and making new demands. Meanwhile the survey shows why CFOs are not always willing to lend more information to the bank. The primary argument is workload combined with not seeing the need to give more.
The risk of debtors
There was not much fear of non-payment at the moment of the survey. Probably because credit management and follow-up of debtors belongs to the more mature processes. Momentarily, deferrals remain mostly out of the question, but many of the respondents do anticipate them. But only one out of three companies are credit insured, with the remainder having no clear view of the creditworthiness of their customers. Credit checks are seemingly not integrated, save with those who have factoring programs.
Companies that are credit insured are least worried. The impact with over 80% of them is expected to be minimal. The majority of those who only think of insurance now, fear expensive insurance premiums. Because of this, there remains a risk of non-payment.