How to Develop a Business Credit Policy
1 hour 30 minutes
Learn how to design and implement an improved credit risk management policy and process.
This topic will benefit anyone who manages the Accounts Receivable asset and its risk of bad debt and delinquency loss. Credit control teams are continuously asked to deliver improved results with the same or reduced resources, despite the proliferation of debt in this economy and the COVID-19 induced depression. This topic will enable managers to focus their limited credit resources in the most efficient and effective way. This will result in improved ability to manage the credit risk vs. need-for-sales tradeoff, a shared corporate consensus on the level of credit risk deemed acceptable, and lower bad debt exposure and expense. This information will help you be able to design and implement an improved credit risk management policy and process, and better protect yourself from unexpected bankruptcy loss.
• You will be able to describe why a credit policy is required.
• You will be able to identify why a credit policy is needed.
• You will be able to recognize the elements of an excellent B2B credit policy.
• You will be able to discuss the trade credit strategy.