Evaluating Your Clients: Credit Analysis and Scoring

A new customer is exciting — more business, more sales, and new connections. Yet new customers are unknowns, and possible credit risks. It is up to you to evaluate the customer for creditworthiness and to decide the line of credit to extend.  Working with your sales department is a key to successful credit analysis. Before a customer can be invoiced and money collected, a sale must be made. But before the sale is made, it is equally important for you to research and forecast the probability the…