Credit worthiness check and approval (adding a new potential client organisation to the crm)

Ensuring that the companies we offer services to, do not have any underlying issues (example: bad debts), which in turn may result in nouv having to struggle to receive necessary payments, is essential.

From a crm process point of view prior to moving to the stage of a quotation you (the potential/deal owner) will have to submit the account (company) for approval. The approval process takes around 10 minutes to be carried out by the finance team. This will prevent the potential/ deal owner from wasting time on a client which may not be a good client for nouv. 

The checks done to new accounts (new companies) on the system prior to moving to quotation stage have been designed to verify that the details on the crm are correct and to ensure that the potential client is credit worthy: 

1.     Prior to the  of a completely new account the finance team shall receive a notification of a new account being created and requiring a credit worthiness check. 

2.     Finance team shall carry out the following checks for approval:

a.     Log into macm.org.mt

b.     Carry out 2 different searches, a search for the account name (the company) and, if local, a search for the contact name

c.     During such search finance team shall verify account and contact name against MBR and will check if there are any warrants, judicial letters or civil cases against the client.

3.     Should there be any adverse issues, approval shall be based on type of service proposed and payment terms.

IF rejected the finance team shall add comments tied to why the approval was rejected. You as the potential owner may want to consult with your senior partner and finance team for the opportunity to resubmit the account fro approval. 

IF approved you the potential owner will be notified and you can proceed with the stages leading to the preparation of a quotation. 

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