Credit Function Flashcards
What does Customer Risk Assessment and take on do?
initial and ongoing assessment of risk within the credit portfolio; including not taken up team following credit offers that are not accepted.
What does the credit terms and funding team do?
establishing credit terms, setting credit limits and assigning risk categories and payment methods. Having awareness of company cash flow and the financing of the credit period.
What does the Relationship building and sales growth team do?
includes external customer care and quality of service, and internal relationships between departments.
What does the billing and dispute resolution team do?
correct maintenance of the Sales Ledger; ensuring the customer file is kept UpToDate and following prescribed query and dispute resolution policies.
What does the sales transaction processing do?
ensuring the timeline and accuracy of the order process
What does the Performance and reporting do?
working alongside analysts, where relevant, to produce, understand and justify a range of outputs including financial and customer centric reports.
What does the collecting payment and cash allocation team do?
should be proactive, robust procedures to maximise the collections effort. Cash allocation ensures that payments and other adjustments are applied correctly in the sales ledger.
What does the Debt recovery team do?
includes issuing formal notices, legal action, referral to collection agencies. Tracing ‘gone away’.
What does the litigation team do?
recovery of sums through the courts with options ranging from full outsourcing to fully integrated legal teams in house.
What does the Insolvency team do?
understanding and processing of formal options (IVA, DRO, liquidation etc).
