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How to Develop a Business Credit Policy

Learn the ins and outs of creating a streamlined and documented credit policy.

Most companies don't have a documented credit policy and those that do have one haven't updated them in years or fail to utilize it in their business resulting in confusion, lack of standards, and increasing accounts receivable issues including higher days sales outstanding, increased bad debt write-offs, and frustration among credit professionals and customers alike. This information will help you quickly create a basic credit policy to address these key issues (and others) to shorten the invoice to cash cycle streamlining all aspects of the accounts receivable, credit, and collections process.

Runtime: 87 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

Introduction

Do Your Homework

  • Who Are Your Customers?
  • How Effective Are You Today?
  • What Is Your DSO?
  • How Much Do You Write-Off?
  • Other Metrics
  • Benchmark Against Your Peers

Set Goals

  • Create a Mission Statement
  • Establish Smart Goals
  • Track and Measure Results

Develop a Credit Team

  • Define Roles and Responsibilities
  • Involve Sales
  • Building a Winning Team
  • Educational Resources

Fine Tune Collections Process

  • Define Procedures
  • Establish Best Practices

Implement a System

  • Manual Systems
  • Leveraging Existing Systems
  • Automated Systems

Continuous Improvement Program

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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.

Credits

OnDemand Webinar

This course was last revised on December 21, 2017.

Call 1-866-352-9540 for further credit information.

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.

MP3 Download

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

James Mallory

James Mallory

e2b teknologies

  • Partner in the office of Anytime Collect by e2b teknologies
  • Practice emphasizes all aspects of enterprise business applications
  • Conducts regular seminars and workshops on numerous business applications including ERP, accounting, and accounts receivable management
  • Written several publications related to the areas of business automation, accounting software, and accounts receivable
  • B.A. degree in business communications, Thiel College
  • Can be contacted at 440-352-4700 x229, [email protected] or on Twitter® @anytimecollect
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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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Product ID: 400679
Published 2017
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