Are you a lender? You'll need to ensure the right staff are handling applications.
By Marcia Smith
How your company handles new customer credit applications will largely depend on your company and employees. Ideally, there would be a separate department for processing these applications, but this just isn’t possible for most companies.
In this case, it may be best for the sales department to communicate with the customers initially, and request their credit information.
After communicating with sales, the customers’ credit information should be passed on to the accounting or billing department. They can then process the application with objectivity and without the incentives that sales may receive.
Handling new customer credit applications in this way ensures that departments are using their differences to the company’s advantage. Legal advice should also be sought.
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