Insights Into Credit Management

Credit Management is the management of one of the business’ most valuable assets – its receivables – this starts from the assessment stage right through to collection.
Effective Credit Management yields a substantial pay back in reduced borrowing, interest saved and improved liquidity. It is not simply a “debt chasing” exercise as it is often referred to.
Credit Management depends on the creation and implementation of a credit policy which establishes systems and procedures for opening accounts; defining the credit worth of the customer; establishing the terms on which goods or services will be supplied; and collecting payment when it is due.
Let us now look at three (3) areas in the Credit Management process:
A� Credit assessment;
A� Monitoring and controlling amounts outstanding on the sales/account receivables ledger;
A� Ensuring the supplier is paid for the goods and services rendered
Credit Assessment
This is the stage at which the …

Etisalat Online Shop

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In nearly every case, it is ideal to retain prospects than to continually chase new ones. And that is one major space the …