Managing Credit in Challenging Times
Have you reviewed your credit policies lately?
Do your credit policies match current economic necessities and business strategy? In the last few years, businesses have needed to learn how to do business strategically with insolvent or nearly insolvent customers. You can’t just cut off every customer who failed to meet outdated credit policy underwriting standards. The reality is that many customers have business challenges of their own. Learning to work with them and to help them with their business challenges is key to both the success of your company and your customers. Many of your customers with current problems will survive and thrive. This white paper reviews the importance of going back to the basics and identifying and helping those survivors, because they will be good customers in the future; while at the same time, minimizing the risk of those customers who will not make it.