Place of Origin : Shenzhen,China
Risk management of accounts receivable has always been a matter of great concern to enterprises. Once the accounts receivable are formed, the accounts receivable customers default, and the case of no one to follow up, due to the stagnation of the company's information and the change of personnel, eventually, lead to overdue, default, or even bad debts. How to avoid the black hole of the company's debts?
Risk Management Of Accounts Receivable Has Always Been A Matter Of Great Concern To Enterprises. Once The Accounts Receivable Are Formed, The Accounts Receivable Customers Default, And The Case Of No One To Follow Up, Due To The Stagnation Of The Company's Information And The Change Of Personnel, Eventually, Lead To Overdue, Default, Or Even Bad Debts. How To Avoid The Black Hole Of The Company's Debts?
From The Following Procedures, Redstar Develops And Implements A Complete And Systematic accounts Receivable Risk Assessment system To Ensure That The Management Work Runs On A Benign Track:
1.Accurate And Timely Customer Background Survey.
Generally, It Includes The Following Aspects: Whether The Customer Has A Fixed Place For Production And Operation, Statutory Business Registration, Good Credit Reputation; Whether The Product Has A Good Market Prospect; What Is The Scale Of The Customer's Production And Operation And The Expected Procurement Scale? Whether There Is A Debt Dispute In The Customer's History And The Reasons For Disputes; The Basic Situation Of The Person In Charge Of The Customer Enterprise, The Head Of The Procurement And Finance Department; The Basic Situation Of The Branch Of The Customer And The Affiliated Company.
2. Objective And Real Customer Credit Survey.
Through Detailed Investigation And Analysis Of The Customer's Business Scale, Business Cycle, Liability Structure, And Property Rights Ratio, RedStar Evaluates The Customer's Highest Credit Limit, The Longest Credit Period, And The Default Procedures.
3. Improve Contracts And Other Written Agreements.
It Is Necessary To Establish Relevant Written Treaties Between The Credit-selling Enterprises And The Customers, So As To Make Specific Operational Provisions For A Series Of Procedures Such As Receiving Orders, Delivery Receipts, Payment Settlement, And Financial Reconciliation.
4. Daily Monitoring And Management Of accounts Receivable Risk.
Follow Up On The Customer's Business Situation And Grasp The Dynamics Of Accounts Receivable In A Timely Manner. Especially For Overdue Accounts, Efforts Are Made To Increase The Efficiency Of The Collection Of Accounts Receivable While Increasing Dunning. For Accounts Receivable That Have Not Yet Expired, Supervision Should Not Be Loose In Case New Defaults Occur, By Doing So, The Security Of Accounts Receivable Is On The Highest Level.
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