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Complete Guide to Making Effective Credit Decisions

Learn best practices in making effective credit decisions without breaking the bank with the credit report costs.

Many companies have adapted the practice of running a credit report for every new customer that is looking to buy from them. Those reports serve a purpose, but at a fairly high cost. Does your company need to run a credit report for all new accounts? What if you found other ways to get information and eliminate the cost of credit reports would you and your boss be interested in hearing about this? This topic will help you learn how to evaluate the best ways to gather your credit information and learn about your potential new customer by obtaining information from your sales team, the intranet, the customers' website, trade groups all at very little or no cost to you. You can effectively make credit decisions with these other tools and impress your boss with cost savings. You will learn to partner with your sales team as well as your customers and those relationships will help you be more successful in your credit role.

Runtime: 86 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

How Do You Start the Process of Making a Sound Credit Decision, What Information Do You Need, and Where Do You Look?

  • Credit Application - What Can We Learn From It and Without Audited Financial Statements?
  • How Much Effort and Cost Will We Spend to Get Credit Information and How Do I Determine the Cost/Benefit Ratio of Credit Information?
  • How Can My Sales Team Help Me Get to Know the Customer and Answer My Concerns?

The 5 C's of Credit - What Are They and How Can They Help Me?

  • Why Is Character the Most Important C and How Can I Benefit From Understanding It?
  • To Eliminate Credit Risk - Why Is Putting Customers on Cash in Advance a Bad Thing?
  • How to Use the Internet to Help Obtain Customer Information and Also Get Paid

What Information Can I Get From Partial Financial Statements?

  • Is Just a Recent Balance Sheet, Income Statement or Statement of Cash Flows Helpful?
  • What If They Are Privately Held and Will Not Share Any Financial Information and I Have a New Order With a Large Value?
  • What Is the Best Approach If I Have Nothing to Go on?
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Ronald A. Sereika

Ronald A. Sereika

CooperVision

  • 2010 National instructor of the year award for The National Association of Credit Management
  • 2013 CCE award of excellence presented by the National Association of Credit Management
  • 2011 Credit Executive of the year Upstate New York by NACM Chicago
  • National Speaker at NACM Credit Congress, NACM Eastern Regional Conference, Upstate NY Annual meetings 2011 to 2015
  • Two time finalist at CooperVision for the CFO award given annually for the top performer in North America’s finance team
  • B.S. degree in accounting, Fredonia State University; attended Amos Tuck School of Business at Dartmouth University executive program for certification in Credit and Finance
  • Can be contacted at 585-264-3269 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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  • State Specific Credit Tracker
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Product ID: 399368
Published 2016
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