by admin | Jul 16, 2018 | Business Planning, Creditors Rights
Setting Up A Credit Policy If you are providing Early Payment Rewards, Let everyone know. If you have an early payment policy that rewards your customers, let your customers know. It can actually be used to build a closer relationship with the customers. While a...
by admin | Jul 11, 2018 | Business Planning, Creditors Rights
Setting Up A Credit Policy Will you reward Early Payment? There is a real cost of capital and clients who show good behavior are usually rewarded. You need to make the decision early if you are going to reward early payments. The 2/10 net 30 is usually used which...
by admin | Jul 6, 2018 | Business Planning, Creditors Rights
Setting Up A Credit Policy Employees working directly with customers have to be fully aware of the credit policy terms. Mixed messages and unfulfilled expectations are not what you want for your business. You have to train your employees on your credit policy, how to...
by admin | Jul 4, 2018 | Business Planning, Creditors Rights
Setting Up A Credit Policy What will be the penalties and late fees? Know this “in advance” The carrot driving the business is the credit terms while the stick to ensure conformance are the penalties, interests and late fees. There is a cost to your...
by admin | Jun 27, 2018 | Business Planning, Creditors Rights
Setting Up A Credit Policy Your Credit Policy Needs to be Visible and Known Ambiguous credit policies are not a good idea and they are difficult to defend in court. Defending an ambiguous credit policy is bad, but it is just as bad trying to defend a detailed policy...
by admin | Jun 20, 2018 | Business Planning, Creditors Rights
Setting Up A Credit Policy Be Organized It is referred to as Receivables Management since it has to be managed. The point before referred to consistency, now we are referring to a standardized process. If you are granting credit, ALL clients need to follow the same...
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