Creating a Trade Credit Policy to Maximize Cash Flow While Minimizing Bad Debt
Instructor:
Pam Krank
Product ID: 702574
- Duration: 90 Min
Why Should You Attend:
When a small/new business grows in revenue, a strong credit policy is required to ensure profits and cash flow grow as well. This policy dictates how one of the company’s largest assets, its trade accounts receivable, will be successfully managed to align with the sales goals of an organization.
Too many companies simply rely only on the experience of its credit department personnel to make individual credit decisions and manage the day-to-day receivables management process. This strategy doesn’t generally consider the company’s overall sales and marketing strategies nor does it rely on a specific, well thought out policy to drive risk decisions. This webinar helps the participant create an effective trade credit policy that will maximize cash flow from the receivables while maximizing sales and minimizing bad debt expense.
This practical webinar shows companies how to mesh their sales strategies with their credit strategies. We will detail the issues surrounding the use of credit terms in a business, the needed processes to qualify customers for unsecured credit, how exceptions will be managed, and how risk will be monitored and adjusted with the policy.
At the end of this webinar, the speaker will handle specific questions you may have regarding sell on credit to high risk commercial customers.
Areas Covered in the Webinar:
- The purpose of a credit policy.
- How sales/marketing strategies affect credit policy.
- What elements go into creating a credit policy.
- How your product/service margins affect goals and credit strategies.
- How credit strategies dictate collection processes.
- What authority levels need to be established.
- Differentiating between a “credit” decision and a “business” decision.
Who will Benefit:
- CFO’s
- Controllers
- Credit Directors
- Credit Managers
- Office Managers
- Accounting Managers
- Business Owners
- Finance Directors
Pam Krank, is a top global trade receivables expert. She’s a lively and engaging speaker on the subject of credit management. Pam has been studying and managing trade receivables portfolios for 33 years in over 400 companies. Pam works with companies looking to more effectively manage the risk associated with trade credit to maximize cash flow and minimize bad debt expense.
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