GUIDELINES FOR PRECISE CREDIT MANAGEMENT

BUSINESS POLICIES, PROCEDURES & STANDARDS

Well-defined credit policies and procedures bring structure to your credit management function.

Aligned to the goals and strategy of your business, the standards, policies and procedures help develop consistency in decision making and set benchmarks for the team. Equipped with profound industry domain knowledge, our experienced consultants work with you to review your internal controls, delivering swift and measurable improvements. We identify KPIs that are relevant to your industry and provide reporting solutions that allow for continuous monitoring.

CREDIT POLICY

A comprehensive credit policy communicates standard while letting you align credit issues across your company.

A credit policy is a set of guidelines that (1) are used to determine which customers are extended credit and billed; (2) set the payment terms for parties to whom credit is extended; (3) define the limits to be set on outstanding credit accounts; and (4) outline the steps or procedures used to deal with delinquent accounts. Our professionals help you review or draft a new credit policy through a process of consultation, assessment of past trends and mapping of business goals.

CONTRACT REVIEW

Considering the impact a contract can have on your business as a whole, the process of reviewing it becomes essential.

Contracts are binding legal agreements between two parties and are the best way to protect yourself as a self-employed person when undertaking work for a client. Any new legal document has the potential to substantially impact your finances, time, and responsibilities if a proper contract review is not conducted. While being fairly negotiated and properly drafted, the agreement needs to be thoroughly reviewed to ensure it meets the intentions of the parties involved. Whether a small business or a large corporation, it is important that the terms you enter into fully protect your interests and goals.

NEED EXPERT ADVICE ON CREDIT MANAGEMENT?

Our consultants will help you navigate through complex policies & procedures
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