The primary goal of any credit department is to protect the company's profitability by ensuring that the money due to the company is collected on time and in full. A successful Credit departments will do so while maintaining customer goodwill during the collection process
To achieve their primary goal, credit departments must have a sound credit assessment and collections policy in place to identify and minimise risk that may lead to debt write off or non-recovery.
This 1 day course will demonstrate how to implement proactive debt limiting procedures, such as comprehensive credit assessments, defined credit policies, credit limits, authority levels and escalation procedures.
Key learning areas covered during this course include:
* Understanding the principles and reasons behind Credit Control and is impact on the organisation
* Clearly defining your company's credit rules and policies to ensure that they do not leave you vulnerable
* The importance of a sound credit assessment & application to form the foundation of the legal relationship
* Methods of gauging a customer's creditworthiness, stability and limits when evaluating the Credit Application
* The importance of conducting regular, formalised account review processes - looking for 'red flags"
* Ensuring that all staff are clear on how and when issues should get escalated for senior intervention
* Standardising and simplifying your collections procedure to ensure collectors know how to proceed & what is required of them