Sales War...Ending the Conflict Between Sales and Credit

An introduction to Profit Centered Credit Sales and PDCM (Past Due Customer Management)
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  • Lectures 6
  • Length 2 hours
  • Skill Level Intermediate Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2015 English

Course Description

Learn the basic concepts, tools and functions you will need to re-purpose your old "risk avoidance at the expense of profit" Credit Department into a dynamic Sales Partner.

Build a strong, new B2B Credit Sales paradigm based on the Profit Imperative with this tutorial for commercial business executives and owners.

Explore the Major Components in a Profit Driven Credit Function
Learn to Implement New Sales Friendly Goals
Find Out the Most Effective Performance Measurements for this Revitalized Area

A Powerful New Competitive Advantage Awaits Your New Credit/Sales Function

With six high quality, content rich lectures, a self evaluation to determine your starting point and suggestions that you can immediately implement in your business, you will be on your way to that new competitive advantage.

Learning the basics for creating a profit driven credit department that know how to maximize sales and minimize risk, measure for the right goals, keep customers current and buying, spot opportunities for improvement, stay on task in real time takes sound administration of this vital asset.

Your company is not going to make money from their credit function unless there is someone who understands the administration and maintenance of what may be your company's largest asset...and that someone is you!

.

What are the requirements?

  • To take this course, students need to be Profit Focused and be engaged in B2B Commercial Sales

What am I going to get from this course?

  • - Describe the old B2B credit extension environment of yesteryear and compare / contrast it with the new Profit Centered Credit Sales philosophy
  • - Explain the Profit Imperative
  • - Understand the investment made in the credit function and the reason behind the investment
  • - Identify the Major Components in a Sales Friendly/Profit Centered Credit Function and the Goals for each Component
  • - Discuss the purpose of a Profit Centered Credit Function
  • - Mark the significance of Past Due Customer Management as the Completion of the Sale and the new Profit Driven Goals
  • -Complete a self evaluation quick quiz to use as a starting point in their own businesses

What is the target audience?

  • This course is appropriate for: Profit Focused Business Owners, CEOs, Managing Directors and Senior Business Managers...and of course those in B2B Commercial Sale and Credit interested in revitalizing the Credit Sales function.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: The History of Risk Avoidance at the Expense of Profit
05:11

The purpose of this introductory lecture is to provide an understanding of how the negative and counter productive conflict between Sales and Credit came into being; how Credit and A/R Management can best contribute to more and larger sales, to improved cash flow, controlled losses and the identification and elimination of costly inefficiencies. How a perceived Cost Center can become a Profit Center.

05:16

How things have changed! In the 1950's paradigm, risk avoidance and the use of DSO and bad debt performance measurements were correct...for that time. This old thinking is now counterproductive, contributes to shortsighted "silo" thinking and has an adverse effect on Sales, customer retention and on profitability. This lecture covers Credit as a Sales Support Function and new performance measurements.

04:50

The best way of earning a profit, and the basis of what follows, is to meet or exceed expectations...at a profit.

In this lecture, we will investigate:

Credit as the lubricant of commerce

What is the investment made in the credit and A/R Function and why is it made?

Why incur the costs, make the investment, in extending credit terms to customers?

What a profitable credit sales really means when taking into consideration variable costs, bad debt and the seller's Product Value at the Time of Sale.

Credit as a Sales Support Function and not an Accounting Function.

08:21

The first three major components in the Credit and A/R Management function are:

  • Credit Approval - How to say yes to potential sales and remain confident of payment
  • Billing - the 4 essentials of successful billing
  • Past Due A/R Management - the "Completion of the Sale"
  • Profit Goals for the major components
  • How this Profit Centered approach improves cash flow and controls losses
05:24

The last and most important component in Profit Centered Credit and A/R Management is Internal Communications.

  • Process Monitoring...KPIs. Every company company is different and unique.
  • How to Measure Performance against these new Profit Goals
  • Areas of Opportunity for Improvement
  • Competitive Advantage to the Entire Supply/Production Chain,
08:21

Using this evaluation to look at your own business through the Profit Centered lens will help you to know what you are doing right and what is costing you unnecessarily. You will identify where you may need to make changes to improve the result you are getting. Then by implementing the suggestions offered by WalkingBear, you will be on your way to ending the sales war. Your business will start experiencing the most profitable sales. And remember The Most Profitable Sales... Additional Sales to Existing Customers have yet to happen!

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Instructor Biography

"Prior to serving as a Corporate Credit Manager I owned a small business and understood first-hand the Profit Imperative...the need for every business manager and business function to contribute to profitability.

What I found in Corporate Credit Management was a mindset fixated on risk and not on profit.

Having seen how my own organization, our suppliers and our business customers misunderstood and underutilized the Credit and A/R Management function I entered the business consulting and training field in 1982.

The target audience for my work is Business Owners, CEOs, Managing Directors, and senior business managers...the decision makers who can make improvements happen.”

Profit Centered Corporate Credit Management

Developer of the copyrighted Profit System of B2B Credit Sales and A/R Management, Abe WalkingBear Sanchez has worked with many hundreds of Business Owners, CEO and senior business managers groups internationally including at Shakespeare's Globe Theatre in London. The endorsed Credit Consultant for STAFDA's 2900 members and PEI's 1600 members, he has spoken to well over three hundred Vistage CEO Groups internationally.


WalkingBear was both a panelist and speaker at the 2007 World Credit Congress held in Mexico City, the 2009 World Credit Congress in Dublin, the 2011World Credit Congress in Sydney and was the keynote and featured speaker at the 2013 World Credit Congress in Johannesburg.

WalkingBear has authored hundreds of business articles that have appeared in publications such as The Wholesaler, Progressive Distribution Magazine, Industrial Distribution, Contractor’s Supply, The Financial Manager , Colorado Business and many others. He is the author of Profit Centered Credit and Collections 1999, co-author of STAFDA's Foundations of a Business 2007, and co-author of the international book, The Best Kept Profit Secret: The Executive's Guide to Transforming a Cost Center 2009.

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