Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

  • To understand the importance of trade credit in today’s business world;
  • To recognize the cost and the risks associated with trade credit;
  • To mitigate the risks associated with trade credit in a profitable manner;
  • To identify the best way to KYC prior to granting credit, including effective sources of information;
  • To focus your resources on the four major components of the credit function – Credit Sales Approval | Invoicing | Past due Accounts Receivable Management | Communication;
  • To gain and sustain competitive advantage in your market when selling on credit;
  • To categorise your customers to ensure prompt payment. Thus, securing sound cash flow management;
  • To develop/restructure the internal processes and procedures in order to ensure sound cash flow and long-term profit;
  • To collect payments from your customers effectively using the best collection methods and practices efficiently.

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