Credit Control Mechanism for a large manufacturer

The Assignment
Designing a Credit Control Mechanism for managing accounts receivables for a large Indian manufacturer.

MaGC approach and methodology
The MaGC team first focussed on the key risks affecting credit management. Strategies for mitigating each of the risks was discussed with the Client. The Credit Control Mechanism (CCM) Guidelines went through multiple iterations before finalization. Process flowcharts, detailed procedures, and document templates were provided. A system for reporting and managing performance was also covered.

The Output
The CCM brought about the much needed discipline in processes around credit extension, credit monitoring, and collections. It resulted in better coordination between various internal teams. It helped in the larger objective of better receivables management.

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  • The January 2022 edition of @institute The Institute of Chartered Accountants of India's e-journal 'The Chartered Accountant' featured an article on Public Finance Management written by our consultants CA. Praveena Raja and CA.