Business Credit ManagementTechniques - How toAchieve CreditManagement andProcess Excellence

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Business Credit Management Techniques - How to
Achieve Credit Management and Process Excellence
By CreditQ?
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Introduction

• Definition Credit management is crucial for
  businesses as it involves extending credit to
  customers for goods and services.
• Importance Poor credit management can impact
  cash flow, reputation, and customer trust.

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How to Establish a Credit Policy?

• Criteria for evaluating creditworthiness
• Limits on credit extension
• Terms of repayment, penalties, and interest
• Ensures consistency and clarity in credit
  processes.

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Usual Steps in Credit Management

• Assess customer creditworthiness
• Monitor customer payment history
• Maintain good customer relations
• Emphasizes the importance of a systematic
  approach.

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Factors in Credit Management

• Customer creditworthiness.
• Financial strength of the customer.
• Product or service value in the market.
• Highlights the considerations in determining
  credit terms.

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Modernizing Credit Management

• Traditional methods
• Relied on spreadsheets and manual dunning
  processes.
• Transition to AI-driven solutions Digitization,
  automation, data analysis, and machine learning
  for efficient credit management.
• Benefits Simplification, error reduction, speed,
  risk reduction, and staff productivity

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Benefits of AI in Credit Management

• Process simplification
• Error reduction
• Speedier processes
• Risk mitigation
• Enhanced staff productivity
• Encourages the adoption of digital
  decision-making in credit management for business
  excellence.

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Thank You

• CreditQ offers essential business credit
  management techniques, including credit policy
  establishment, systematic steps, and AI-driven
  solutions, enhancing efficiency and reducing risk
  for businesses.
• Know more _at_ creditq.in/page/business-credit-manage
  ment