• 37 Sian Tuan Ave Singapore
  • +65 9871 2665
  • info@creditmanagement.com.sg
The Size, Responsibilities and Objectives of a Credit Management Team
You are here: Home \ Blog \ The Size, Responsibilities and Objectives of a Credit Management Team
4 April 2015 - 6:40, by , in Blog, No comments

Credit managers are an integral part of almost every organization. The number of credit managers in any given organization may vary depending on the size of the company or the amount of cash flow. This may range from a single individual to a team of 20 or maybe 30 credit managers working in a single workspace. There may even be SMEs (small and medium sized enterprises) where credit managers do not exist. However their functionality is still played by someone who is usually responsible for the accounts, finance or cash department.e always in a closed loop with them. In cases where there is a large team who is responsible for managing the credits of a large enterprise, a manager may look after and report directly to the higher management. The immediate manager is also responsible in defining the everyday tasks of his team and to take follow-ups regarding their KPIs.

The scope of responsibilities of a credit manager is broad. They are engaged in some serious and crucial business activities to help your business flourish and prosper. Some of the primary tasks of a credit manager include:

  • Setting up credit limits and defining payment schedules for your clients
  • Follow-ups with clients and maintain consistency in cash flow
  • Send and receive invoices
  • Set up terms and conditions which are favorable to the client and justifiable to the client
  • Set up reminders to call clients for receivables ahead of time
  • Set up policies for late payment surcharges or defining policies in which a client may be catered with a waive
  • Secure timely payments and avoid any conflicts or disputes among parties
  • Advice customers about timely payments and avoid legal actions
  • Plan, devise and take legal prompt actions against clients if required
  • Manage accounts for customers


These are some of the most important objectives of credit management department. These objectives should be well communicated so that no disagreement arises between the management and the financial department. Credit management Singapore has the best team of highly trained professionals ready to look after credits for you.

About author:

Leave a Reply