Credit Policy

The power of a credit policy everyone in the company can understand and comply with

Today, increasingly stringent demands are placed on modern credit providers. You must not only work more quickly and efficiently, you must to do it with a controlled degree of risk taking. However, companies can console themselves in the knowledge that a structured approach to risk management increases business value as well as reinforcing their customers’ confidence in the company. Therefore, a fully developed credit policy is more than just a useful aid. It is nothing more than a pre-requisite in order that everyone in the company is able to make optimal business decisions.

All companies have a credit policy, but, in all too many cases, it is not formally documented. And if a paper copy does exist, it never reaches further than the credit department. This becomes all too obvious when we are out visiting companies. Businesses often function fairly well in any case – but they remain vulnerable.

Those dealing with credit issues on a daily basis often experience uncertainty due to the lack of an effective credit policy. Conflicts, both internally, and with customers, are not uncommon. An employee who is unsure as to what he should do, or what authority he holds, can quickly lose confidence. Assessments are not made on a consistent basis, and when the supervisors are not around, structure and order evaporates. “There are no clearcut rules, so I’m not doing anything wrong!”

We help you develop your credit policy, or introduce a new one

At Soliditet Solutions we have several years’ experience helping companies in this area – we have seen the worst and learned from the best. As a result, we are well qualified to help your company draw up a new credit policy – or modify the existing one. We ensure that your company’s activities adhere to objectives established by the company management during the entire business process. And, in addition, we make sure tools and routines are introduced enabling decision-makers throughout the organisation to gain access to the information they require to reach optimal business decisions. A credit policy should focus primarily on business risks, although it is important that your company strikes a sound balance between managing risk and creating the conditions for business.

We specialise in producing credit policies everyone can understand and comply with. Usually, our policies take up no more than two pages. You are then free to modify and revise the policy in accordance with your own requirements.

With Soliditet as your external partner, your policy is unaffected by ingrained, outmoded behaviour. Nor does it grow into a vast project which is never really completed. Let Soliditet Solutions help your company in this highly interesting, crucial area.

Business Advisors

We will help you.

With considerable experience offering expert analysis and business advice, Soliditet’s business advisors are equipped with cutting-edge tools for the analysis of patterns and behaviour around customer bases and transactions. Feel free to give us a call.

 

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