The ultimate resource.
Controlling credit is often a necessary practice.
Policies, procedures of the practices that guarantee that in the end payment is made.
prevents bad debts.
Controls cash flow.
Contribute to higher profits.
Can provide growth.
Key factor in weathering bad periods.
consumes considerable staff time.
Can sour relationships with customers.
1. Assign responsibility for credit control.
2. Introducing credit policy.
3. Reexamine your terms of sale.
4. Assess credit risk.
5. Reassess credit worthiness of existing customers.
6. Understand the effective of bad debts.
7. Review your billing cycle.
8. List overdue and total indebtedness.
9. Monitor the average length of credit.
10. Introducing a collection procedure.
Clear vision, regular checkups, no excuses.
How does the length of credit you receive compare with the length of credit you allow.
What incentives to your customers or clients have to pay promptly.
End of data.