Enforcing your Credit Policy

So you finally have a credit policy written and ready to go!

How can you get everyone at your company to follow the policy?

This can be harder than writing the policy!  First of all, have a metting and give everyone a copy of the credit policy.  Let everyone know that if they extend credit or don’t follow the policy and it costs the business money, they will be responsible for that loss of funds and/or that they will then be responsible for collecting that money.

You must be firm, think of your credit policy as your child.  Be strict, don’t bend the rules, not even once because once you do, the rules will be bent more and more and your policy will be useless.

I have been in this situation, and have seen it happen. My best advice to you is to follow the policy strictly, set a precendence so everyone knows, it must be followed and no exceptions will be made.

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