TFG heard from WOA’s founder, Erik Timmermans, on the latest in receivables and open account trade in 2020, the impact of the COVID pandemic on the RF community, and what we could expect for the remainder of the year.
The speed and severity of the economic downturn has been far greater than the last recession, in 2008–09. The IMF forecasts that world GDP will shrink by almost 5% this year. Growth is coming back as the lockdown eases.
WOA took the initiative to survey members, partners and industry leaders in June 2020 about how the virus has affected performance of factoring and commercial finance firms globally.
Open Account financing is going through a period of rapid change, thanks to digital innovation and competition. Recognised as a safe and flexible way for financing the real economy, we caught up with Erik Timmermans, founder of WOA, and John Brehcist, at their annual convention, to discuss the hottest topics in receivables finance.
WOA is delighted to announce that the well-known Receivables Finance Industry expert John Brehcist (roundwindow consultancy services) will be working with Erik Timmermans and his colleagues to support the World of Open Account.
