Selling on credit profitably

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