Assistant Vice President | Global Process Owner Order to Cash | MBA Finance | Ex- EY
The Core Activities of the Credit Department: 1. Customer and Credit Analysis 2. Developing Credit Policy 3. Managing the Collection Function 4. Setting Credit Availability Thresholds 5. Management Reporting. Agree? or "Am I" missing something?
| 13+ Years in B2B Business Development | Corporate Payments | Trade Credit Insurance | 13+ ans en développement commercial B2B | Paiements d'entreprise | Assurance-crédit
🚨Providing/extending credit to buyers carries BIG inherent risks and uncertainties!?!?🚨 It also feels certain in order to compete in most industries despite the anxiety of non-payment. Right?🧐 That is why credit management teams take steps to try to ensure the best chance of repayment from their customers. But are the steps you're currently taking enough?!?!? I’m curious to hear your thoughts on this.🤨 Looking forward to read all your comments below. ⬇️⬇️⬇️
Navigating Challenges in Credit Management Credit Managers face various challenges, such as fluctuating market conditions and client defaults. Developing strong analytical skills and maintaining open communication with clients can help mitigate these risks. How do you tackle challenges in your credit management role? Share your insights! #dso #accountsreceivable #creditmanager #creditmanagement
->Effective Credit Management: 1. Assess Risk: Evaluate customer creditworthiness thoroughly (financial statements, credit history, industry trends). 2. Set Clear Terms: Establish and communicate clear credit limits, payment deadlines, and late payment penalties. 3. Monitor Accounts: Regularly review customer accounts for timely payments and potential issues. 4. Collect Promptly: Implement efficient collection procedures for overdue accounts (friendly reminders, phone calls, and if necessary, legal action). 5. Build Relationships: Foster strong customer relationships to encourage timely payments and resolve disputes amicably. #CreditManagement #CashFlow #CustomerRelationships #RiskManagement #BusinessGrowth
Managing Director at HEWITT & MCLEOD LIMITED working with businesses and business owners who are serious about their PAYMENT TERMS, reducing LATE PAYMENT and improving their CASH FLOW.
" How Exposed To Risk Is Your Business" When was the last time you assessed the credit risk your business is exposed to when granting credit terms to customers. Are the credit limits set now fit for purpose? Which customers are never utilising the credit limit available and who do you have a constant battle with to keep within limit by having to get them to pay proforma? Do you have a review and a discussion with your customers regards credit limits. Circumstances can change very quickly for businesses and you need to be aware and be able to assess and manage the risk or opportunities appropriately. If you want to manage your risk better then call , email or DM and lets arrange a chat - ☎️ 07401436801 ✉️ iain@hewittmcleod.com #latepayment #creditrisk #businessowner #managingrisk
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Learn how Epiq AACER's Premium Data solution revolutionized bankruptcy audit processes, saving a lender and servicer 2,000 hours in one year. In today's case study spotlight, see how automation creates the future of compliance and risk management. Read the full story here: https://lnkd.in/gy_W7TPW #BankruptcyAudit #EfficiencyThroughInnovation #bankcruptcyservices #chapter11 #dataanalytics #riskmanagement #casestudy
Learn how Epiq AACER's Premium Data solution revolutionized bankruptcy audit processes, saving a lender and servicer 2,000 hours in one year. In today's case study spotlight, see how automation creates the future of compliance and risk management. Read the full story here: https://lnkd.in/gy_W7TPW #BankruptcyAudit #EfficiencyThroughInnovation #bankcruptcyservices #chapter11 #dataanalytics #riskmanagement #casestudy
Sales Professional | 15+ years of helping global technology companies increase revenue and deliver an outstanding customer experience.
Learn how Epiq AACER's Premium Data solution revolutionized bankruptcy audit processes, saving a lender and servicer 2,000 hours in one year. In today's case study spotlight, see how automation creates the future of compliance and risk management. Read the full story here: https://lnkd.in/gy_W7TPW #BankruptcyAudit #EfficiencyThroughInnovation #bankcruptcyservices #chapter11 #dataanalytics #riskmanagement #casestudy
Learn how Epiq AACER's Premium Data solution revolutionized bankruptcy audit processes, saving a lender and servicer 2,000 hours in one year. In today's case study spotlight, see how automation creates the future of compliance and risk management. Read the full story here: https://lnkd.in/gy_W7TPW #BankruptcyAudit #EfficiencyThroughInnovation #bankcruptcyservices #chapter11 #dataanalytics #riskmanagement #casestudy
