How to Use Credit Data to Support Your Commercial Credit Decisions - New Accounts

Overview:

This session will provide basic knowledge on the best practices to decide on credit terms and credit limits for new commercial accounts. Primary focus will be on approving unsecured trade credit.

Why you should Attend:

Successful Commercial Risk Management requires best practices to decide on credit terms and credit limits for new accounts.

This session will provide answers to the following questions:

• How do I know the applicant is legitimate and not a fraud?
• Do I have processes in place to evaluate new requests for credit and extensions of credit lines?
• Am I applying business rules consistently and effectively by using scorecards or some other objective methodology?
• Does my evaluation process objectively set credit limits?
• Do I have a good process in place to offer other options to complete the sale with legitimate but marginally high-risk customers?

Areas Covered in the Session:

• Establish Credit Policy and Procedures (pre step)
• Evaluate New Accounts
• Extend Credit/Set Credit Limits
• Collect Past Due Receivables
• Special terms
• Risk Management of Portfolio (next step)

Who Will Benefit:

• Small Business Owners
• Company Employees new to the Credit Function
• Students who need or want to learn about Commercial Credit