UNDERSTANDING AND IMPLEMENTING CREDIT MANAGEMENT

Credit Management is the process of controlling and collecting payments from customers. It is usually a function performed within a company to improve and control credit policies which ultimately lead to increased revenues and lower risk including increasing collections, reducing credit costs, extending more credit to creditworthy customers, and developing competitive credit terms.

Topics to be covered include:

Business Rational for Credit Management
Detailed Review of Stages within Credit Management
Credit Management – Definition, Purpose and Nature
Entry Activities – Credit Assessment – First Interaction – Principal Focus and Reason
Credit Findings – Outcome and Reasons
Risk Classifications – Determinants Based on Outcome and Why
Management / Maintenance Activities
Monitoring – Methods and Pre-determined Intervals
Consequential Actions for Desired Results

Treatment Graduation – Positive / Negative
Pros and Cons of – Calls, Letters, Credit Blocking, Credit Info Sharing
Exit Activities – Reclassification of Account, Deactivation of account
Removal / Write Off
Referral, Litigation and Skip Tracing

Target Audience

Front End Staff
Account Managers
Credit Management Personnel
General Accounts

About The Facilitator - Lester Weekes

Lester Weekes is the holder of a Bachelor of Science Degree in Business Administration and holds a wealth of experience in Credit Management. He has worked within the telecommunication Industry of Trinidad and Tobago for twenty two (22) years, with the last eleven at senior management levels within Credit and Cash Collections Management. He has also worked in billing systems project implementation with specific focus on the Credit Management and Cash Collection modules. He has also documented a number of credit management systems and procedures within the telecommunications industry. Mr. Weekes now manages and directs his own Bad Debt Recoveries company which has been undertaking work for various companies within the public and private sector for the last six years.