Credit Management Explained
Credit management involves tracking and managing accounts receivable to ensure timely payments and maintain healthy cash flow.
The Importance of Credit Management
Proper credit management reduces bad debt and boosts financial health.
Credit Management Strategies
Effective strategies include setting credit limits, monitoring payments, and using automation for follow-ups.
Tools to Enhance Credit Management
Tools like credit scoring software, customer relationship management (CRM) systems, and automated invoicing are crucial in modern credit management.