5 key success factors for the smooth implementation of a credit management strategy
Credit management strategies are a vital aspect of any business, allowing them to manage their cash flow by devising processes and policies which prevent the late payment or non-payment of invoices. Without an effective strategy in place, a business’ growth may be impeded. Therefore, it is crucial to ensure the smooth implementation of a credit management strategy.
Before implementing a credit management strategy, you firstly need to prepare by thinking about what you want from the strategy, what the collection flow should look like and what data you need to be a successful collector. Once you have considered these elements, you should follow our top five tips:
In this webinar, we will provide you with the best tips to achieve the smoothest implementation of a credit management strategy. We will discuss the following tips:
- Set clear objectives and start with the basics
- Involve the right people
- Develop best practices
- Cascade processes
- Don’t underestimate the processes
Would you like to work easier, more efficiently and effectively? Then watch this webinar recording: 5 key success factors for the smooth implementation of a credit management strategy.