Covid 19 Credit Risk Control

Global Wizdom is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP or SHRM-SCP. This program is valid for 1 PDC for the SHRM-CP or SHRM-SCP.

Key Take Away:
The economic downturn caused by the Covid 19 virus will force most companies to sell on credit to financially weak customers in order to survive. This is a huge, unwelcome, risky change. Learn how can a company do this and survive.

Overview:
Covid-19 Credit Risk Control is an approach to minimize bad debt losses while maximizing revenue and cash collection from a financially weak customer base, during the next twelve months while the economy suffers a severe downturn.

To avoid a catastrophic revenue decrease, you will have to sell to financially weak customers whose credit rating may be far below your current acceptable risk standards. Inevitably, you will suffer larger bad debt losses than in the past.

Coping with this change will require a unified posture to the market that defines how accommodating your company will be in meeting customer demands for higher credit. Meanwhile, Accounts Receivable delinquency and risk will grow.

Why Should You Attend:
Financial strength and cash reserves vary widely among companies. How long can your company survive with drastically reduced revenue and cash inflow? The answer depends on two key influences:

1.  how much can expenses and cash outflow be reduced?
2.  how much revenue and cash inflow be generated in a severely contracted economy?

Areas Covered in the Session:
1.  Definition of the Company Posture to the marketplace
2.  Identification of high-risk customers
3.  Development of a treatment protocol for large customers/ groups of similar customers
4.  Intensive application of the treatment protocols
5.  Benefits

Speaker: John G Salek
John Salek is President of Revenue Management Associates, an Accounts Receivable & Order to Cash consulting company. He is a highly experienced financial professional with proven performance in the Order to Cash process including order and contract processing, billing, dispute management, credit control, collections, and cash application. John has worked in a broad range of industries with over 250 clients

Others Details

Global Wizdom Contact :1-720-414-3543 [email protected] https://globalwizdom.com