Tag Archives: increase

Why Is Public Finance Management So Important To Development?

Finance Management

Finance Management

In response to the Paris Declaration (2005) and the Accra Agenda (2008) leading to commitments for donors to channel more of their aid to developing countries through country systems, there has been a growing shift away from program and project aid – typically managed or overseen directly by the contributing development partner – to budget support where aid is channeled directly through the developing country treasury’s consolidated revenue fund account. As one might expect, as a consequence of this growing shift to budget support there has been a corresponding increase in donor focus on the performance of Public Finance Management in the countries that receive budget support. This is as should be, given the increased real or perceived fiduciary risks associated with the use of country systems to manage the hard earned taxes of the citizens of development partner countries.

Credit Management Services

Credit Management

Credit Management

There are two types of credit management services – one for businesses and one for individuals. Let us find out what each type means.

Credit management services for companies and business owners

Some companies need credit management services to effectively collect payables from clients. A lot of credit management companies offer discreet and courteous cash flow management and collection of your overdue and current accounts. These companies are trained not only to collect, but also to maintain healthy relationships between businesses and their customers.

Aside from increasing a business’ receivables, credit management companies also proactively prevent bad debts by instituting rules so that customers and clients pay on time. They also help improve a business’ customer service, so that it can collect its own receivables in the future.

What Is Credit Management

Credit Management

Credit Management

Credit management is an important function in every organization. Experts defined it as a balancing act between maximizing business revenue against minimizing credit loss.

All big and lucrative business deals involve some levels of credit risks. On the other hand companies cannot advance or function without credit. Therefore in order ensure a company enjoy the benefits of big and lucrative business deals and function properly, it has to management its credit well and efficiently.

Investing in receivables involves credit risk. It is impossible to eliminate credit loss totally. However it is possible keep credit loss to minimal through controls. Practicing and executing efficient credit management will ensure the company makes good decision investing in quality receivables with calculated credit loss.

Credit Management Design a System and Work the System

Credit Management

Credit Management

How well does your company do at collecting past due accounts? The answer will vary widely depending on your discipline, your tenacity and perhaps even your region of the country.

Fortunately, few regions of the country use credit as a tool for any other purpose than customer convenience. However, some regions do use credit as a marketing tool. And in others, sometimes dozens of years ago, companies began to allow customers to use them like most professional customers use a bank. And a long history of practices like these are always difficult to eliminate.

Among the ways credit management is generally measured:

o Average accounts receivable collection days.

o Bad debt expense as a percentage of sales.

o Recoveries as a percentage of outstanding balances.

o Turn around time for processing credit applications.

o Service charges collected.

Credit Management

Credit Management

Credit Management

Credit management means different things for different people. For business owners, it is a process of implementing policies and practices to abide by in receiving payments from clients and customers. Part of effective business credit management is avoidance of extending credit terms to prospective ‘bad debtors.’

For the rest of America, however, credit management is more personal – it refers to the tactics and means by which their personal debts can be quickly and legally reduced. If you are one of the many Americans who badly need credit management to get back on the road to financial health, then these tips are for you.

Pay your loans and debts on time. Your credit record is not only affected by how much you pay for your loans and debts, but also how quickly and regularly you pay them. When you pay on time, you avoid exorbitant late fees (about $30 to $50 or more) and get high marks on your credit rating.