Improving Your Credit Risks
PROGRAM: Improving Your Credit Risks
Too often, credit for a new account is not checked until a Rep has an order. That’s too late. Significant company resources have already been invested. Additionally, “accounts receivable” follow-up and discipline is often compromised by a Rep’s need for commission, and the production schedule’s need for work.
Changing Market Conditions:
With industry margins continuing to be squeezed, late payments and bad debts from customers – continue to further squeeze suppliers. Too many companies have not computed the amount of “additional business needed” – to recover from a $10,000 bad debt…! That information deserves to be understood by “your front line employees.” As in the 2007-2009 financial collapse, when a broad market turns down, there is no escape – and a lifetime of investment and growth – can dial back to “0.”
Company Performance Benefits Expected:
We examine your business development credit practices, your requests for personal customer guarantees, your late payment collection practices, your requests for partial payments up-front, your invoicing practices, and what your invoices look like – for opportunities to improve your cash flow – and reduce your risks. We also move to access your bank’s credit assessment feedback.
Key Knowledge Areas Introduced:
A comprehensive assessment of your credit and purchase risks, while improving your cash flow, bad debt exposure and credit risks.
Unusual Instruction Features:
Current conditions are assessed, SOP’s are drafted and applied, and implementation is reviewed.
Fee: $1,000. Five months are expected to be required, after initial discussions, and objectives agreed to.
If interested in learning more, please contact:
Sid Chadwick – President
336-558-4939 – sidchadwickcc@gmail.com OR
Sarah Ogburn – Research Manager/Administrative Assistant