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Effective Collections: A Proactive Approach to Credit Management

Learn to take a proactive approach to making your collection process and policies more efficient.

This material will explore how collections are a sometimes overlooked but vital part of the overall credit risk management process. In many companies, the credit function is a separate person or team focused on credit risk evaluation, setting and updating credit limits, and resolving customer order holds. While credit normally reports to the same manager as collections, there is a tendency for them to operate in a parallel versus fully integrated manner.

Runtime: 88 minutes
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Why Lorman?

Over 34 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

The Purpose of Credit Management

  • Objective
  • Alignment With Go to Market Strategy
  • The Dimensions of Credit Management

The Role of Collections in Credit Management

  • Controlling Exposure
  • Eyes and Ears
  • Communication Channel With Customers

Proactive Credit Management

  • Credit Alert Services
  • Proactive Credit Limit Updates
  • Proactive Collections
  • Security and Insurance

Collaboration in Credit Management

  • Credit and Collection Roles
  • Order Hold
  • Payment Terms
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More Program Information

Why Lorman?

Over 34 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

MP3 Download

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

OnDemand Course

This course was last revised on December 8, 2020.

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

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

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Why Lorman?

Over 34 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

John G. Salek

John G. Salek

Revenue Management Associates, LLC

  • President of Revenue Management Associates, LLC, a receivables and order to cash consultancy (www.optimizear.net)
  • Highly experienced financial professional with proven performance in the order to cash process, including order and contract processing, billing, dispute management, credit control, collections, and cash application
  • Worked in a broad range of industries with more than 250 clients, including IBM, GE, Hewlett-Packard, Cardinal Health, Thomson Reuters, Starbucks, Honeywell, and EMC
  • 32 years of consulting experience including a variety of engagements that have generated more than $800 million of increased cash flow, improved productivity, and enhanced customer service
  • Author of Accounts Receivable Management Best Practices, published by John Wiley & Sons
  • Member of advisory board of The Accounts Receivable Network (TARN) and the IOFM
  • M.B.A. degree in finance, The Amos Tuck School of Business Administration at Dartmouth College; B.S. degree, University of Connecticut
  • Can be contacted at 203-231-8138 or [email protected]
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Why Lorman?

Over 34 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: 407704
Published 2020
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