Selling on credit profitably

Learning objectives:

  • To understand your specific industry, understanding clearly its challenges and opportunities;
  • To develop and make use of an effective whilst efficient Credit Application Form which is doable and applicable to your industry;
  • To understand the importance of Know Your Customer prior to granting/extending trade credit;
  • To approve Credit Sales, securing profitable sales;
  • To understand how to use Credit Reference Agency Information to establish the credit worthiness of a prospective customer;
  • To comprehend the importance of effective invoicing/billing and what are the key elements of an invoice/bill;
  • To establish an effective Accounts Receivable Management System that ensures sound cash flow and long-term profit;
  • To determine the best method of managing our Overdue Accounts whilst keeping our customers buying and paying;
  • To build good Relationship Management in Accounts Receivable – gaining and sustaining competitive advantage in the market;
  • To collect cash effectively by means of various methods, including – letters, e-mails, sms and telephone techniques when payments are due;
  • To Develop an effective Credit Policy

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