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Corporate Restructuring and Working Capital Management
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Receivables Finance in the Context of Working Capital Management by Igor Zax

Friday Jun 13, 2014

Igor Zax, Managing Director of Tenzor Ltd, published a new article, Receivables Finance in Context of Working Capital Management in TRF News (Trade and receivable Finance News, a major publication by BCR).

Editorial comment states “Igor Zax’s article in today’s trfnews, ‘Receivables Finance in the Context of Working Capital Management’, reminds us of the value of looking back at the history of modern supply chains and how working capital management, and hence factoring and supply chain finance, has developed from this. It also reflects on the potential frailty and dangers that over exposure to some supply chain structures can bring.

On late payments he says: “just a couple of weeks delay on 30 day terms increases working capital consumption by one-and-a-half times.” I wonder how many factors use such direct terms in their advertising material. If they do not, perhaps they should consider it, particularly as the trend is for larger companies to use receivables finance, and it is those companies in particular that tend respond well to the use of such analytic sound bites.”

Reprinted with permission.


DISTRIBUTION FINANCE – A TIME FOR CHANGE? by Igor Zax and James C. Berry II in World Supply Chain Finance Yearbook 2013/2014

Tuesday Jan 14, 2014

Igor Zax, managing director of Tenzor Ltd, and James C. Berry, II, Executive Director, 5I Group LLC, published a new article, Distribution Finance – A time for change in World Supply Chain Finance Yearbook 2013/2014, a major publication by BCR/Factorscan.
The article addresses industry landscape and fundamentals, new products and approaches to make the industry more competitive and better serve client needs, and opportunities for new entrants (such as leasing companies and banks) in this market.


Credit Insurance-Lessons From The Crisis-by Igor Zax in Insurance Insight

Wednesday Mar 20, 2013

Igor Zax, managing director of Tenzor Ltd, published a new article, Credit Insurance Lessons From the Crisis in Insurance Insight, leading insurance publication.

The article looks into the value proposition of credit insurance, common misconceptions about it use, risks of relinquishing control of credit process and efficient use of credit insurance as part of financing solutions.

Reprinted with permission.


Supply Chain Finance-Where Will The Future Lead -by Igor Zax

Thursday Jul 5, 2012

Igor Zax, managing director of Tenzor Ltd, published a new article, Supply Chain Finance Where Will the Future Lead in GT News (major treasury publication by AFP).

The article discussed advantages and implications of seller centric approach to SCF, as well as use of SCF within overlall context of Supply Chain co-operation.

Reprinted with permission.


Designing a Corporate Credit Policy- by igor Zax in GT News

Friday Feb 24, 2012

Igor Zax, managing director of Tenzor Ltd, published a new article, Designing a Corporate Credit Policy in GT News (major treasury publication by AFP).

The article discussed effects of granting credit to customers, credit origination process,credit risk management, dilutions/late payments and their effects, concentrated A/R, effect of A/R policy on return on capital.

Reprinted with permission.


Supply Chain Finance – a Strategic View-article by Igor Zax for Supply Chain Yearbook 2011/2012

Thursday Dec 8, 2011

Igor Zax, managing director of Tenzor Ltd, published a new article, Supply Chain Finance – a Strategic View in Supply Chain Yearbook 2011/2012, a publication by BCR Publishing/Factorscan.

The article focuses on both buyer-centric and seller centric (such as distribution finance) models from risk, route to market, impact on the supply chain structure and systems/process points of view.


Supply Chain Finance- is there mid-market opportunity for factors? by Igor Zax

Friday Feb 25, 2011

Igor Zax, managing director of Tenzor Ltd, published a new article, Supply Chain Finance- is there mid-market opportunity for factors? in BCR Factorscan, major factoring publication.
The article focuses on the application of Supply Chain Finance for mid market sector, roots to market (both buyer centric and seller driven) and the role that factoring companies can play in this segment.


Corporate Credit Policy-A Strategic View by Igor Zax

Wednesday Feb 2, 2011

Igor Zax, managing director of Tenzor Ltd, published a new article, Corporate Credit Policy-A Strategic View in GT News (major treasury publication by AFP).

The article discussed the nature of trade receivables risks, its difference from other type of credit risk, its relationship to corporate strategy and approaches to design of optimal credit policy.

Reprinted with permission.


Trade Credit Insurance: Best Practice and Lessons from the Crisis

Tuesday Aug 17, 2010

Trade Credit Insurance- Best Practice and Lessons from the Crisis This new article by Igor Zax  covers reasons for use of credit insurance, it’s role in transferring risk, outsourcing credit process and building financing solutions, advantages and pitfalls of using credit insurance, and the effects of the financial crisis for corporate use of credit insurance.

Published in GT News – publication of AFP (Association of Financial Professionals). Reprinted with permission.


Working Capital – Seeing a Broader Picture – by Igor Zax

Wednesday Sep 9, 2009

Working Capital – Seeing a Broader Picture The article by Igor Zax, adresses working capital management within changing economic and industry environment, its links to business strategy, supply chain, distribution and industry models.

Published in Global Treasury Briefing and GT News – publications of AFP (Association of Financial Professionals). Reprinted with permission.