The Credit Manager's Tool Box - Tools, Tips and Strategies to Make a Sound Credit Decision Webinar
This webinar provides the "big" picture of credit, how to work with the account to collect from them effectively and still retain them as an account. People will learn how to analyze the account for credit worthiness when sales wants to sell them that large order, and they will learn how to analyze financial statements. They will see a full credit review on an account and see how important it is to have sales work with credit to achieve their goals.
The areas covered in this webinar are:
- Credit Department responsibilities
- How to get the information you need for a new or existing customer
- Learning how to treat customers as partners not just people that owe you money
- Learning the importance of the other parts of the financial statements not just theBal.Sheet, income statement and statement of cash flows.
- Understanding auditors opinions and how this could affect you
- The benefit of common sizing financial statements
- Understand why as a credit person you should never be rated based on the DSO calculation
- Understand the benefit of the Altman Z score calculation
Why Should you Attend:
This webinar summarizes everything from what you need to look for in setting up new accounts, where to find information on your new customers, how to interrupt and read financial statements. It gives you the basic financial ratios to determine if a customer is profitable, are they generating cash flow from operations, are they too highly leveraged with debt, and are they close to filing bankruptcy within the next year.
You will go through a full financial analysis on a company based on audited financial statements, work through ratios, review the auditor´s opinion and write up a summary on your customer that will help you determine a credit limit and it can also be presented to senior management for approval.
Objectives of the Presentation:
The objectives of the presentation are to learn about:
- Operating of a credit department.
- How best to deal with your customers on collections.
- Where to get credit information from.
- How best to get the sales team on your side and work with them not against them.
- How to use financial ratios to determine your customer´s credit worthiness.
- How to analyze the balance sheet, Income statement and statement of cash flows.
- How to view your customers differently so that you build a relationship with them that retains them for years to come.
- How to write a credit review for management on a new account.
- How to sell to any customer no matter how bad their credit may be.