The ongoing task of managing receivables has never been more challenging. With greater demands for credit, higher delinquencies and more business failures, and increasing expectations for a lower DSO, where can credit professionals turn for advice? For more than a century, NACM South Central Region has offered creative credit solutions to its members.
Through our Credit Consulting service, you'll have access to a team of experts ready to tackle your toughest issues.
- CREDIT APPLICATION
- CREDIT POLICY
- MANAGEMENT REPORTS
- STANDARD OPERATING PROCEDURES
Asking the right questions up front is essential to controlling risk and will improve the process of collecting the receivable later, should the account become delinquent. We'll share with you the secrets of a successful credit application; and suggest adjustments to your current form or create a new one to meet your own specific needs.
A credit policy is the foundation for a successful credit program. It establishes direction and determines the level of risk an organization is willing and able to bear. We'll create a brand-new customized policy just for you or review and improve your existing credit policy.
Effective reporting enables you to monitor and respond proactively to changes in your portfolio. How are you doing? Our team will work with you to develop the reports necessary to gauge the success of your credit department's efforts. We'll focus on those key variables that are most important to you.
For many organizations, the employees are the most valuable asset. What type, number, and mix of employees do you need to achieve your credit goals? Is it better to make adjustments internally or outsource certain functions? We will answer these questions for you, after careful analysis. We'll write job duties and descriptions, and help you identify the perfect candidates to fill those positions.
Standard Operating Procedures
Once a credit policy is established, a game plan with specific "rules" is necessary to ensure the proper administration of the policy. We'll help you develop effective Standard Operating Procedures (SOPs) to compliment and further your company's credit policy and goals.
As your trusted advisor, we'll work closely with you to identify your department's specific training needs. Our team will directly provide the needed training or we'll enlist the aid of one or more of our business partners to fill your needs. In addition, we'll keep you informed of any local or regional classes or seminars that may be beneficial to your organization.