Credit Policy Sluit uw credit policy aan op uw business én maak deze compliant

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1 Credit Policy Sluit uw credit policy aan op uw business én maak deze compliant Flanders Expo Gent Zaal 1 Expertsessie 15:30-16:15 Drs. Jean Gieskens AC CCM QT 1

2 Credit Policy

3 Clear, written guidelines that set: (1) the terms and conditions for supplying goods on credit, (2) customer qualification criteria, (3) procedure for making collections, (4) steps to be taken in case of customer delinquency, also called Collection Policy.

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6 The Value Network Long Term Short Term Short Term S&L Term What business are we in? Credit, Cash & Treasury Management 6

7 What business are we realy in? Key Activities Customer Relation Key Partners Value Propositions Customer Segment Cost Structure Key Resources Channels Revenue Streams

8 CRM en/of CRM? Customer Relation Management Credit Risk Management

9 Credit Policy: 10 C s 5 C's of good Credit 5 C's of bad Credit + capital - contingency + collateral - competition Kwantitatief + capacity - communication + conditions - carelessness + character - complacency Kwalitatief 9

10 Credit Policy & Treasury CC&T CC&T CC&T Credit Policy Cash & Treasury Policy Credit Procedures Cash & Treasury Procedures Credit & Collection Proces (instructions) Strategisch Tactisch Operationeel

11 Risico Radar FINANCIEEL STRATEGISCH Economisch risico Transactierisico Translatierisico Kredietrisico (5 C's) Renterisico Grondstofprijzen (termijnmarkt) Solvabiliteit Rentabiliteit Liquiditeit Werkkapitaal Cash Flow Fusies & overnames (F&O) IVA: Intelectueel kapitaal Onderzoek & ontwikkeling PMC (7P's) Markt Concurrentie krachten Contracten Consumenten Compliance Risk Verkopers en leveranciers Werknemers DGA: OASE MVA Product/dienst aansprakelijkheid Natuurlijke gebeurtenis Proces controle Informatiesysteem Boekhouding Control HRM: MD AO/IC Samenstelling RvB - RvC - RvT Branche & plaats in de waardeketen Werving van talent Regelgeving & toezicht CALAMITEITEN OPERATIONEEL

12 Credit Policy: Compliance - LPD: Late Payments Directive - EAPO: European Account Preservation Order - PSD2: Payment Service Directive - ERM (COSO II) - Local GAAP s - InCoTerms - Basel III

13 Credit Policy: CM Performance KPI s & Targets: - DSO / DAR - Overdue % - Write-off % - Aging list - Grace - Operating Cashflow - Watchlist / Black List - LPD: Late Payment Days - BOTIF: Bills-on-time-in-full - # Betwiste nota s & Credit nota`s - CEI: Collection Effectiveness Index

14 Cash Conversion Cycle (CCC) Purchase-to-pay Production-tostock Order-to-cash Stock-to-fulfill Inkoopmarkt: leveranciers Transformatie: organisatie LM Verkoopmarkt: afnemers Primaire geldstromen = geïnduceerd = inherent = incl. Trade Working Capital Vermogensmarkt Geld markt Kapitaal markt Secundaire geldstromen = autonoom = managerial = Net Treasury Cash & Treasury Management 14

15 Processen: p-o-t-p-c CREDIT MANAGEMENT: PROCESSEN Accountmanagement (1) Credit Management Sud-administraties (9) Prospects - klantenselectie / kredietbeoordeling (3) Facturen / creditnota's Accountmanagement - kredietbeoordeling bestaande klanten (4) - registratie & administratie (5) Control (10) Sales Management (2) - credit control (6) Interne rapportage Offertes - juridische zaken (7) Externe rapportage Orders - incasso / collection (8) Wettelijke vereisten After sales service Banken (11) Betalingsverkeer Risk-based Quality-based Time-based Preventief Curatief Repressief 15

16 Functie en CTFS CM hoog Credit Marketing Control Debiteuren beheer Credit Management Debiteuren administratie laag Procesintegratie hoog 16

17 How can you Challenge Choose Describe Design Discuss your Improve Innovate Invent Pivot Credit Policy

18 Nadere informatie Training Credit Policy Well done - this is a credit to mumbo jumbo! 18