Home > Uncategorized > A Credit fitness test

A Credit fitness test

And the credit for this must go to my friend Ulrike who runs a sucessful credit management consultancy in Ireland. It is an excellent list of questions and really should be applied to all businesses regardless of size.

Ulrikes contact details are http://www.creidiuint.com/html/contact.html

1 Do you have documented credit policy and procedures in operation?      
2 Have you reviewed your credit policy and procedures in the last 12 months?     UNSURE
3 Do you use a credit application form?   NO UNSURE
4 Do you risk-assess new customers?   NO UNSURE
5 Do you operate credit lines and risk categories?   NO UNSURE
6 Have you securities in place for high-risk customers?   NO UNSURE
7 Do your customers know your credit terms?   NO UNSURE
8 Do you have a dunning process in place?   NO UNSURE
9 Have your credit and collection staff received credit specific training in the last 12 months?   NO UNSURE
10 Do you measure your debtor days?   NO UNSURE
11 Do you measure your cost of credit and the effect on your bottom line?   NO UNSURE
12 Have you run out if ideas of how to improve your debtor ledger?   NO UNSURE
 
Advertisements
Categories: Uncategorized
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: