Credit Management Policy Drafting & Implementation

Basic Package

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Corpseed helps you to define rules on all steps that are likely to prevent business risk by committing financial resources. This shall be done in order to manage this risk and to diminish them.

What is a credit management policy?

 

Credit management policies (CMP) are guidelines and rules defined by management which governs the credit department of company’s and its concert in the addition of credit rights.

 

Credit management policy defines a number of operating rules must be followed by the entire company including of course the credit team. It majorly addresses below conditions

 

Credit policy (1): The terms and conditions for supplying goods or services on credit,

Credit policy (2): Procedures for making collections

Credit policy (3): Customer eligibility criteria, 

Credit policy (4): Steps to be taken in case of customer/vendor delinquency.

What we offer under credit management policy

 

  • Evaluate and define the standard conditions for sale (payment policy terms, early payment discount rate... etc.)
  • Define the processes to open an account, set a credit limit, how to recover the bills ...etc.
  • Define the rules of operation at each stage & business strategy.
  • Clarify the objectives of the company and set best practices that must be followed by the entire organization.
  • Limits the internal conflicts that inevitably appear when the personal interests of the people involved differ.
  • Communicate between vendors, business management and finance department.
  • Specifies the operating standard for all stakeholders while providing rules for exceptions.
  • Indeed, the principle of the trade specific to a business relationship to another, from an economic context to another.
  • Define operating modes in accordance with the interests of the company.
  • Define vertically (hierarchically subordinate) and horizontally (across multiple services).
  • Define chart of authority which determines for each decision committing an additional risk to the company the power of validation of each actor

 

Credit Management Processes

 

Corpseed helps you to define rules on all steps that are likely to prevent business risk by committing financial resources. This shall be done in order to manage this risk and to diminish them.

 

Corpseed main stages of the sales process

Timing diagram of the sales process:

 

 

Conclusion

 

Corpseed helps businesses with the credit management policy which includes all the steps described above, also helps in implementation.

 

Implementation of such rules gives a direction to the company and its employees and helps protect as much as possible from overdue and losses,

 

Established and implement will help to improve cash flow and operational capital needs of the company and to secures its future and encourage its development.

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answer

At Corpseed, we are committed to offer our services to the entrepreneurs and businesses as a very cost-effective proposition. We believe that a customer is always right and the focus of any business activity should be to serve the customer with utmost loyalty. All our services come with SLAs (Service Level Agreements) for on-time service delivery and money back guarantee to ensure high level of customer satisfaction.

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At Corpseed, our valued customers are always kept in the loop as far as service delivery timeline is concerned and we inform our customers every time a milestone is achieved during each stage of service request processing. But we also believe that we may come across a customer who is not satisfied with our efforts. For that we have a very responsive Customer Care Department which work 24x7 to attend to and solve customer complaints. We also have a money back guarantee for those, who want their service charges to be refunded.

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answer

If a customer is having issues with our service delivery process, he has various alternatives available at his disposal to register his grievance with us. He can either email his complaint at complaints@corpseed.com or he can call our 24x7 Customer Care Helpline. Also, any customer is always welcome to visit our office to lodge a complaint with the senior management.

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