From the Currency of International Trade – Part Two
A Nugget of Wisdom and Best Practice: The KR Factor
When we sell internationally, we need to remember that one side of the coin of the currency of international trade is sales and marketing; the other side is credit and collection. On the sales and marketing side credit due diligence will make a sale operative. On the other side, credit due diligence enhances collection, and collection efforts will in turn convert the sale into cash. Remember the adage: A sale is not a sale until the cash is in the bank.
In this course, the participants will contemplate and find the answers to the following questions:
1. What are the issues affecting international collection?
2. What are the obstacles?
3. What are aids and facilitators?
Here are some of the Issues that will be discussed:
• Government & Country
• Relationship and Human Factors
• Company, Customer & Competition
• Logistical & Infrastructure
Moreover, the session will discuss the Obstacles and the Aids, the KR Factor and the 4 Ps of international collections.
I hope this nugget of wisdom and best practice could help credit and collection professionals mitigate the risk and help their companies to be cashflow healthy and help their customers to prosper.
This is one of the nuggets I expound and explain in the course The Currency of International Trade Part Two: Highlights on Collections.
For details, please click on the link below:
Eddy A. Sumar, MBA, CCE, CICE, and CEW, is the Founder of ERS Consulting Services in Rancho Cucamonga, California; he is an International Trade Financing Consultant; a Consultant for the Center for International Trade Development (CITD); a member of the Guidepoint Global Advisors, and an Associate of Quote 2 Cash (Q2C). Mr. Sumar is a research consultant, author, and a public speaker and enjoys writing and traveling. Contact: e-mail: firstname.lastname@example.org.