Pro-Active Credit Control
Andriy Sichka, creditologist
founder and managing partner at Credit Engineering
??? #MasterClass by Credit Engineering
In holistic credit management, we distinguish between three major credit process stages, each of which addresses a specific question:
#1 Structuring:
What are the optimal credit terms for dealing with a counterpart?
#2 Control:
What actions should be taken when the agreed-upon terms are not effective anymore?
#3 Payment Assurance and Collection:
How can we ensure payment and recover funds when necessary?
The questions themselves suggest that the control stage involves a significant degree of decision-making. When the agreed-upon terms do not work, there are at least three options: insisting on the terms, reviewing and revising them, or making an exception. Each of these options gives rise to scenarios that can significantly impact the business relationship with a counterpart, and the choice between them is rarely simple.
It is quite natural that addressing sales orders when they are already placed on hold is certainly not the ideal time to do so. Blocked sales orders do not contribute positively to a company's competitive position, sales growth, or customer satisfaction. Therefore, a credit function should be designed to reduce the number of such orders to an absolute minimum. In other words, it must be preventive, or better yet, proactive.
Our next masterclass will be dedicated to observation of Pro-Active Credit Control components.
??Place: Credit Engineering #LinkedIn page https://www.dhirubhai.net/events/7171446589457186816/
?? Date: March 28th, 2024
?? Time: 2:00 PM CET
?? Prepare your questions and stay tuned for an enlightening discussion!
? Add the event to your calendar to avoid missing it
Credit analytics & SME
?? #CreditScience by Credit Engineering : Exploring the Future of Credit Analysis
Join us for an insightful online event as two luminaries in the world of finance, Professor Edward Altman and Dr. Gabriele Sabato, come together to delve into the fascinating world of credit, credit risk, and analytics.
?? Date: April 4th, 2024
?? Time: 5:00 PM CET
?? Location: LinkedIn Live, Andriy Sichka iy Sichka https://www.dhirubhai.net/events/7160191883405590528/
领英推荐
?? Prepare your questions and stay tuned for an enlightening discussion!
? Add the event to your calendar to avoid missing it
????Ireland with Delcan Flood
???? #CreditInn 1st event's record is already available on our YouTube channel. Feel free to watch, share and comment. https://youtu.be/JAJqT9SeAhc
????Malta with Josef Busuttil
The next ???? #CreditInn destination is charming ????Malta. This time we will be guided by smart and charismatic Josef Busuttil MBA(Henley), Dip M MCIM, FCICM . Check-in on Credit Engineering page to embark on this flight. The event's link is here:https://www.dhirubhai.net/events/7170104491072040960/
??Take off: Credit Engineering #LinkedIn page
?? Date: March 21st, 2024
?? Time: 2:00 PM CET
?? Prepare your questions and stay tuned for an enlightening discussion!
? Add the event to your calendar to avoid missing it
Trade Credit Risk Outsourcing
??? #MasterClass record is already available on our YouTube channel. Feel free to watch, share and comment. https://youtu.be/r1m9wFktYWo
Stay tuned, there are more interesting?events?ahead!
Bon Crédit ??
Andriy SICHKA
managing partner