This service involves the preparation of credit procedure that is suitable for your organization as well as the implementation of credit control procedures and its nurture to maturity. Yaad & Associates is capable of designing critical systems of control that help our clients prevent their businesses from liquidity challenges due to improper and uncoordinated issuance of credit to customers.

This is, to a large extent, all embracing. If we are committed to undertake this, we look at your total systems, review it together with Management, make suggestions and come up with a manual that can be referred to daily. The principal advantage of this manual is that guidelines and necessary operating procedures are stipulated. There is no gain-saying that such manual creates basis for Internal Control Unit or Internal Professional Service Department to operate.

To improve on credit control process, we advise our clients to create clear credit control process, research customers’ credit history, maintain a positive working relationship, invoice quickly and accurately, encourage beneficiaries to make early repayments, compile a watchlist and take action, forecast cashflow and take action, trust your business instinct, make it easier to get repaid, and maintain a clear and consistent terms and conditions.

As consultants, we are able to train credit control personnel on how to manage debts owed by creditors, ensuring that timely repayments are made, incoming funds are processed, invoices are reconciled, account queries are managed, and debts recovered from defaulters.

Our methods are simple. We utilise both traditional and quantitative methods of credit control. These include bank rate policy (BRP), open market operations (OMO), and variable reserve ratio (VRR). Also frequently used is qualitative or selective credit control method. This method includes regulation of margin requirements, credit rationing, regulation of consumer credit, and direct intervention.

We invite you to request a free consultation to discuss this solution further.