Transforming the credit function from a cost centre into a profit centre

Learning objectives:

  • To analyse the situation of the credit department within a given business context;
  • To understand clearly the importance of trade credit and the significance of the credit function;
  • To comprehend the rationale behind granting / extending credit;
  • To establish the goal driven guidelines supporting the purposes of the credit function;
  • To understand clearly the four major components of the credit function - Credit Sales Approval | Invoicing | Past due Accounts Receivable Management | Communication;
  • To identify the internal resources available in the credit department, including developing and retaining the right people for the job, team building and monitoring the performance of the credit team;
  • To create synergy between the Credit and the Sales functions;
  • To identify specific CSF for our credit function;
  • To take personal responsibility for the implementation, management, control and direction of the credit function.

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