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Credit Management and New
Trends
• Reactive to Preventive
• The proactive credit managers do not wait for the things to get out of hand. They know
where to find the opportunities and acts according to it. It is very important to pre-screen
you customers with efficient and effective due diligence methods. The focus on prevention
will let you detect any payment problems in advance.
• Standard to Tailored Service
• Companies also acts like customers, they always want tailored services rather than a
standard solution. The trend is not shifting as the companies are now moving towards a
bespoke approach rather staying with the standardisation. However, drawing up a clear
policy on any deviations from the standard terms so that both the parties can understand
what to expect. It is also necessary to pursue prompt payment to achieve a higher
turnover.