How Much Credit Should You Grant Your Customers?
- Wed, January 9, 2019, 03:00
Cost: Members: $95
US: 3:00pm ET
About the Webinar
One of the most critical tasks for credit managers is to determine how much credit to provide to their customers. Many would say it simply takes a review of a credit report to make that determination based on what other creditors provide to the customers and how those customers manage their available and past credit lines. Others choose to focus on financial clues like profitability, growth, or perhaps a percentage of total assets or net worth of the company. However, these aren’t enough in today’s risk environment to keep track of credit lines that makes sense for your portfolio. There are simple, critical elements and processes often overlooked by credit managers in the evaluation process that can create confident, accurate credit line extensions. We will cover:
- Evaluate traditional ways to quantify trade credit lines offered
- Incorporate your risk tolerance and credit policy into each credit decision
- Assess your portfolio for credit line extension and changes made to credit lines
- Learn critical elements to access to consistently and accurately determine unsecured credit lines
About the Speakers
Pam Krank is president of The Credit Department, Inc. (known as TCD), a 25-person trade credit management outsourcing provider in St. Paul which has been in business since 1992. Her firm’s mission is to help global businesses maximize cash flow and earnings by providing outsourced, sophisticated, virtual commercial credit departments delivered through their hosted cloud platform, SMART. Prior to starting TCD, Pam was a credit supervisor at 3M for 13 years.
As a top expert in the field of trade receivables management, Pam has trained thousands of credit managers, controllers, CFOs, auditors, and commercial lenders on valuing and managing the accounts receivable asset. Pam was an instructor at the University of St. Thomas in Minneapolis in the FastTrac Program where, for nearly 10 years, she helped entrepreneurs grow their companies. Pam is a graduate of the University of Minnesota’s Credit and Financial Management program and is a FastTrac graduate.
Instructions to join the Webinar will be sent to the main registrant's email address the day before. Remember! please log-in at least 15 minutes prior to the webinar commencing to ensure ample time for technical assistance if needed.