Read more
Between 30% and 40% of a business s net assets may be represented by debtors yet few businesses obtain credit reports on their customers and many companies have inadequate systems for the management of debt. In Successful Credit Control Martin Posner outlines a framework of key checkpoints through which the creditworthiness of customers both in the domestic and overseas markets can be evaluated quickly and efficiently. He explains in clear practical terms how to minimise risk from bad debtors while maximising sales and improving customer care. Successful Credit Control discusses how to: review cash flow, implement an effective credit control and collection strategy, train staff in debt management, make effective use of information technology and improve your company s financial stability. New interviews with leading credit managers show how to improve profitability and still retain customers. Other specialists in the debt recovery field illustrate how to collect a debt without winding-up a company.
List of contents
The Basic Principles of Credit Assessment.
Creating Profitable Sales and Customer Care.
Types of Business.
The Unknown Customer.
Making the Assessment.
The Administration of the Sales Ledger/Credit Control Department.
Training for Credit Management.
Collecting the Outstanding Account.
Thinking About Taking Proceedings.
Exporting.
Credit Insurance -
Why Insure?
Conclusion.
Further Reading.
Index.
About the author
Martin Posner has worked in industrial and commercial credit for over 30 years. He has particular experience in increasing sales where marginal business is vital to a company s profits. He now runs his own consultancy specialising in helping companies to increase their market share while minimising their risk exposure. He is a Fellow and Council Member of the Institute of Credit Management and past chairman of their education committee and has written the expert page of the monthly journal Credit Management for the last fourteen years.
Summary
Credit managers control one of the largest assets many companies are likely to have - recoverable debt. This text aims to show how to improve a company's financial stability through an effective credit control framework.
