fundamental trade credit questions
Andriy Sichka, creditologist
founder and managing partner at Credit Engineering
"Questions are more important than answers,' said Jim Collins, the author of 'Good to Great,' in one of his speeches. The continuous and meaningful development of any function would be impossible without asking profound, fundamental questions about the subject. These are the questions that help take a deep look into the very essence of the function and challenge the way it is exercised.
Every given day, all of us involved in the management of trade credit perform our responsibilities: we collect cash, release orders, assess credit risk, verify documents, align contract texts, visit customers, resolve disputes, review credit policies, interview candidates, train our teams, deliver presentations to higher managers, and strive to build strong relationships with the sales team. We even write articles about how all these and many other things could be done better. While everyday credit management is invaluable, it is equally important to challenge ourselves occasionally by posing fundamental questions.
So far I have found three of them, but you may have your own. You are invited to join us online and add your brick into the foundation of credit management.
?? Save the date: December 14th, 2023
? Time: 14:00 CET
??? Platform: Zoom
Secure your spot today by registering here:?https://www.dhirubhai.net/events/7128017848332918784/
We look forward to see you online!
comprehensive credit management skill-set
The next flow of the online course 'Credit and Accounts Receivable Management' will start?on?May, 6th 2024.?Join us and?review the approach to credit management and begin to get tangible business results!
5?reasons to attend:
67%?of participants improve their work performance before the end of the course.
领英推荐
trade credit decision-making masterclass
Every company faces the challenge of dealing with overdue and bad debts. While many businesses attempt to address these issues by implementing strict controls on receivables and intensifying their efforts to collect overdue payments, these measures often yield only partial success. Moreover, excessive focus on debt collection can strain customer relationships and lead to a decline in sales volume.
On the other hand, the foundation for preventing late payments is laid long before the need for collection arises. More than half of the battle is usually won when contractual terms are properly negotiated and agreed upon by both parties. The key to success lies in the quality of risk assessment, the appropriateness of credit payment terms, and the selection of the right trade credit security instruments.
This course consists of effective methods and winning strategies for finding, aligning, and maintaining optimal credit limits, payment terms, and security requirements for any trade credit transaction. By proactively establishing clear and mutually beneficial terms from the outset, companies can significantly reduce the incidence of overdue payments and bad debts. This not only preserves valuable customer relationships but also contributes to a healthier bottom line.
Should you wish to become a master of credit terms structuring for customers and suppliers join us online and become one, join us on:
Feel free to reach out to me if you have any questions.
Stay tuned, there are more interesting?events?ahead!
Bon Crédit ???
Andriy SICHKA
managing partner