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.
When you visit any web site, it may store or retrieve information on your browser,
mostly in the form of cookies. This information might be about you, your preferences
or your device and is mostly used to make the site work as you expect it to. The
information does not usually directly identify you, but it can give you a more
personalised web experience.
Because we respect your right to privacy, you can choose not to allow some types of
cookies. Click on the different category headings to find out more and change our
default settings. However, blocking some types of cookies may impact your experience
of the site and the services we are able to offer.
Strictly Necessary Cookies
Always Active
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms.
You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information.
Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site.
All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.
Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages.
If you do not allow these cookies then some or all of these services may not function properly.
Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites.
They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
Social Media Cookies
These cookies are set by a range of social media services that we have added to the site to enable you to share our content with your friends and networks. They are capable of tracking your browser across other sites and building up a profile of your interests. This may impact the content and messages you see on other websites you visit.
If you do not allow these cookies you may not be able to use or see these sharing tools.
These cookies are set by a range of social media services that we have added to the site to enable you to share our content with your friends and networks. They are capable of tracking your browser across other sites and building up a profile of your interests. This may impact the content and messages you see on other websites you visit.
If you do not allow these cookies you may not be able to use or see these sharing tools.