Ensuring suitable qualifications are held by credit professionals is vital to all businesses as credit professionals are the custodians of many businesses largest asset (the Accounts Receivable Ledger) and ensure an efficient sale to payment process by mitigating the risks of slow cash flow and bad debts.
The skills and knowledge required to be a proficient credit professional have been impacted by today’s complex business world and times of high corporate insolvency and bankruptcy. This emphasises the importance of effective risk assessment and the timely monitoring and collection of receivables and the skills and knowledge of those tasked with these responsibilities.
The credit function is a highly specialised function of a business requiring specific knowledge and skills including Risk Analysis, Accounting, Dispute resolution, Legal, Insolvency, Debt Collection and general business skills. Each individual needs to possess the full knowledge and skill set in order to ensure the efficient operation of the credit function and business.
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