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How to Develop a Business Credit Policy - Webinar

  • ID: 4425737
  • Webinar
  • December 2017
  • Region: Global
  • 90 pages
  • Lorman Business Center, Inc.
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Learn the ins and outs of creating a streamlined and documented credit policy.

Most companies dont have a documented credit policy and those that do have one haven’t updated them in years or fail to utilize it in their business resulting in confusion, lack of standards, and increasing accounts receivable issues including higher days sales outstanding, increased bad debt write offs, and frustration among credit professionals and customers alike. This information will help you quickly create a basic credit policy to address these key issues (and others) to shorten the invoice to cash cycle streamlining all aspects of the accounts receivable, credit, and collections process.

Learning Objectives
  • You will be able to define basic components of a credit policy.
  • You will be able to describe the process of creating a credit policy.
  • You will be able to discuss the need for a credit policy.
  • You will be able to recognize the benefits of creating a corporate credit policy.
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Introduction

Do Your Homework
  • Who Are Your Customers?
  • How Effective Are You Today?
  • What Is Your DSO?
  • How Much Do You Write-Off?
  • Other Metrics
  • Benchmark Against Your Peers
Set Goals
  • Create a Mission Statement
  • Establish Smart Goals
  • Track and Measure Results
Develop a Credit Team
  • Define Roles and Responsibilities
  • Involve Sales
  • Building a Winning Team
  • Educational Resources
Fine Tune Collections Process
  • Define Procedures
  • Establish Best Practices
Implement a System
  • Manual Systems
  • Leveraging Existing Systems
  • Automated Systems
Continuous Improvement Program
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James Mallory e2b teknologies
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This webinar is designed for business and office managers, presidents, vice presidents, finance directors, controllers, CFOs, lending professionals and credit managers.
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