Credit Policy for businesses and how to extend credit and manage credit risk

If you aren't going to be doing your own collection work or maintaining your accounts receivables yourself, you will want to hire someone or a credit manager to do those tasks for you.

If you are looking for a good credit manager, there are some skills that are necessary for that position.  Some of those skills include patience, good follow up skills, organizational skills, negotiation skills and many skills that are similar to someone doing mediation.

Sometimes the billing department or credit manager acts as a mediator in getting something paid, so people skills are important.  Be sure to remember when you are hiring someone to do this job that it is a hard job, credit managers end up taking some hard phone calls and in person confrontations.  There is no changing the fact that even if someone owes the money, no one likes the bill collector!