This webinar will cover the entire credit process from how to set up an account, how to decide what payment terms they should receive all the way to how best to collect from a delinquent account. The webinar outlines steps for the following processes:
Anyone overseeing the credit and collections area :
Every company must have a process in place for setting up new customers but how are they doing it and is the current process as effective and efficient as it could be? In this session it will cover the best practice for setting up new accounts, how to review their credit applications and question do you need to order a credit report or is there enough information in your credit application and in the manner you do business to avoid the cost of a credit report. If you end up buying a credit report or if you receive financial statements from your largest customers this webinar will teach you what to look for on the financial statements, how to interpret them and make a decision of how to sell to this new account. Other area’s covered are; Learning about the Altman Z score to determine if the new account has the possibility of going into bankruptcy within the next 12 months, how to set up credit limits and how to write up the SOP with a Credit limit matrix to support the credit limit approval process. You will learn how to monitor an account once it is set up, how to do a calling hierarchy for your team and techniques of what to do when your credit team cannot reach the customer to try and secure a payment. The Webinar will also talk about all the payment methods available and how to determine the cost of each and choose which one is best for your company.