Complete Guide to Making Effective Credit Decisions

Lorman Education Services
Training overview
Professional Course
1.5 hours

Course description

Complete Guide to Making Effective Credit Decisions

Complete Guide to Making Effective Credit Decisions

Learn best practices in making effective credit decisions without breaking the bank with the credit report costs. Many companies have adapted the practice of running a credit report for every new customer that is looking to buy from them. Those reports serve a purpose, but at a fairly high cost. Does your company need to run a credit report for all new accounts? What if you found other ways to get information and eliminate the cost of credit reports would you and your boss be interested in hearing about this? This topic will help you learn how to evaluate the best ways to gather your credit information and learn about your potential new customer by obtaining information from your sales team, the intranet, the customers’ website, trade groups all at very little or no cost to you. You can effectively make credit decisions with these other tools and impress your boss with cost savings. You will learn to partner with your sales team as well as your customers and those relationships will help you be more successful in your credit role.

Learning Objectives

  • You will be able to discuss with any customer what your concerns are and figure out a way to sell to them other than cash in advance.
  • You will be able to explain to your boss new ways of setting up accounts and saving money by not spending it on purchasing credit reports.
  • You will be able to identify potential concerns of customers and alter your actions on granting credit to them.
  • You will be able to recognize new ways to approve customers for credit if no credit report or financial statements are available.

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    Who should attend?

    This live webinar is designed for business and office managers, finance directors, controllers, CFOs, lending professionals and credit managers.

    Training content

    • How Do You Start the Process of Making a Sound Credit Decision, What Information Do You Need, and Where Do You Look?
    • Credit Application - What Can We Learn From It and Without Audited Financial Statements?
    • How Much Effort and Cost Will We Spend to Get Credit Information and How Do I Determine the Cost/Benefit Ratio of Credit Information?
    • How Can My Sales Team Help Me Get to Know the Customer and Answer My Concerns?The 5 C's of Credit - What Are They and How Can They Help Me?
    • Why Is Character the Most Important C and How Can I Benefit From Understanding It?
    • To Eliminate Credit Risk - Why Is Putting Customers on Cash in Advance a Bad Thing?
    • How to Use the Internet to Help Obtain Customer Information and Also Get PaidWhat Information Can I Get From Partial Financial Statements?
    • Is Just a Recent Balance Sheet, Income Statement or Statement of Cash Flows Helpful?
    • What If They Are Privately Held and Will Not Share Any Financial Information and I Have a New Order With a Large Value?
    • What Is the Best Approach If I Have Nothing to Go on?

    Costs

    The cost of this Complete Guide to Making Effective Credit Decisions live webinar is $199 per participant.

    About Lorman Education Services

    Lorman Education Services

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    Contact info

    Lorman Education Services

    Lorman Education Services
    2510 Alpine Road
    54702 Eau Claire Wisconsin

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