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Understanding Credit Management

Good effective credit management is vital to running a successful business. This course will show you how credit management can contribute to profit and that it is an area worth investing in

Course Objectives

To give you an understanding of the importance of credit management and show that it starts right at the front end with good communication when customers are placing orders. Having an effective credit policy and procedures, being aware of the importance of cash flow and managing and measuring performance results in a motivated team and an increase in profit

Course Designed For

Anyone who wants to know about credit management and the positive effect it can have on a business

How Credit Management Contributes to Profit

  • The cost of credit
  • The impact of bad debts
  • The importance of cash flow
  • The effect of overdue debt on profit

Credit Policy and Procedures

  • Its purpose
  • Its function
  • The primary objectives
  • Responsibilities
  • Purpose and operation of procedures

Managing the Credit Team

  • Staffing levels
  • Your main objective
  • Your common purpose
  • Setting targets
  • Measuring performance
  • Cash planning
  • Being cost effective
  • Heading for clear goals
  • Developing a rapport with sales and others
  • Creating a winning environment

Query Management

  • The cost and effect of too many queries
  • Communicating effectively to resolve queries
  • Minimising queries

Credit Management Health-check

  • Defining key areas you should have in place

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