Credit Management

Consulting

AFM can conduct a review of your current credit management practices to identify problem areas and implement improved policies and procedures including performance measures aimed at increasing sales, cash flows and profitability.

Experienced AFM consultants can train your credit staff to improve their knowledge, performance and efficiency.

AFM can act in an ongoing role to monitor the credit function.

Documentation

In the difficult business environment of today, it is essential that the terms and conditions on which you extend credit and supply goods and services is formally documented and accepted by your customers.

AFM can review your current practices and documentation (if it exists) and tailor a Credit Documentation package to your needs. This will include a Credit Application with terms of credit detailing the terms on which you will extend credit to your customers. It will provide for personal guarantees from the directors of private companies.

AFM will also document the terms on which you will supply goods and/or services to customers.

The benefits of such documentation include:

• projection of a professional image to customers correct identification of the entity you deal with
• directors of private companies personally guarantee payment on a continuing basis
• credit checks on the entity and its directors can be made in compliance with the Privacy Act
• caveats may be lodged over real property to secure a debt
• interest may be charged on overdue accounts and collection costs recovered
• title to goods may be retained until payment is received.

Credit Checks & Risk Assessment

Businesses with recurring bad debt losses are not unlucky in their choice of customers they are just unwise and quickly fall prey to the credit sharks who are denied credit by better prepared competitors.

AFM can provide you with an in depth evaluation of a credit application through credit bureau and ASIC searches as well as trade references.

The investigative nature of the credit checks reveals all aspects of the applicant’s background, whether favourable or unfavourable and ensures that the credit decision is made on the best information available.

AFM has access to the Credit Advantage database providing a valuable tool to the assessment of credit risk through reports based on a point scoring formula.

Account Monitoring

AFM can provide you with an early warning of a potential problem through the monitoring of major or nominated accounts. You will only incur a charge for this service when a change occurs.

Receivables Management

AFM can act as your credit manager in the management of your debtors ledger thus freeing you to better manage the other important aspects of your business.

Our business philosophy is to preserve the valuable relationships you have built up between you and your customers and work towards ensuring ongoing business and income for you whilst ensuring prompt payment of accounts.

Where a possible loss becomes evident and no further business potential exists , AFM will pursue payment vigorously.