You are on page 1of 36



Page |1




ROLL NO. : 2016MGB1237

Under the guidance of : MR. Gopal Pandey


Page |2


I ARJUN SINGH declare that I myself worked on the topic CREDIT

CONTROL under ThinkNEXT Technologies Pvt. Ltd. Mohali. The
data and the information is collected by myself and no third party has
helped me in doing so. I myself have conducted all the surveys and
research analysis.

Signature of the Student: ARJUN SINGH

Place: Mohali

Page |3


This is to certify that the project titled CREDIT CONTROL is the original
work carried out by the me submitted to GNDU REGIONAL CAMPUS
SATHIALA under the supervision of MR. Gopal Pandey submitted in
partial fulfillment for the award of MASTERS degree in BUSINESS

This project was completed within the stipulated time period as per the statues
of the university.

It is further certified that this work has not been submitted earlier in this
university or any other university for any degree/diploma.

Place: Mohali

Page |4


First of all I would like to express my gratitude to almighty God, who bestowed
his blessing on me and gave me courage and right type of environment for
completion of my project.

It gives me a great pleasure to submit this project to GNDU REGIONAL

CAMPUS SATHIALA take this opportunity with great pleasure to present
before this project on CREDIT CONTROL which is result of co-operation,
hard work & good wishes of many people. The most pleasant part of any project
is to express the gratitude towards all those who have contributed to the success
of my project.

I am deeply indebted to my supervisor/project guide Mr GOPAL PANDEY

(FINANCE Executive of ThinkNEXT Technologies Pvt. Ltd.
Mohali)having permitted me to carry out this project work. I wish to express
my deep sense of gratitude to his for her guidance and useful suggestions, which
helped me all the time in completing the project work in time.

I would like to thanks Mr. Kaushal (Chartered Accountant) who has been my
mentor for this project. It was only through her excellence assistance & good
suggestions that I have been able to complete this project.

I would also like to thank my college project guide, GNDU

REGIONAL CAMPUS SATHIALA for his valuable guidance and support

Words are inadequate in offering my thanks to all the members of ThinkNEXT

Technologies Pvt. Ltd., Mohali for their encouragement and cooperation in
carrying out the project work.

Page |5




1.1 Introduction about it industry

1.2 Company profile

1.2.1 Services


1.2.2 Vision
1.2.3 Mission:

1.2.4 Quality Policy

1.3 Management of ThinkNEXT

1.4 Some of our clients:
1.5 Placements

1.6 Programs offered

1.7 ThinkNEXT Edge
1.8 ThinkNEXT Cloud Campus Advantages
2.1 Central banking- Methods of credit
2.2 Control- an overview
2.3 Central bank- quick recap
2.4 Two methods of credit control
Page |6

2.5 Quantitative method

2.6 Qualitative method
2.7 Selective credit control methods
2.8 Regulation of customer credit
2.9 Moral suasion
2.10 Rationing of credit
2.11 Direct action
Page |7


Page |8


Information Technology covers a broad spectrum of hardware and software solutions that
enable organizations to gather, organize, and analyze data that helps them achieve their
goals. It also details technology-based workflow processes that expand the capacity of an
organization to deliver services that generate revenue. The four main focuses of IT
personnel are business computer network and database management, information security,
business software development, and computer tech support.

As the IT industry evolves to meet the technology demands of todays workplace, different
challenges are arising and IT professionals are striving to meet them. Network security is
by far the greatest concern for many companies and they rely on their IT staff to prevent or
stop these system breaches. Data overload is becoming an increasingly important issue
since many businesses are processing large amounts of data on a daily basis, with many of
them not have the processing power to do so. Last, but not least, two of the most essential
skills needed from IT professionals are teamwork and communication skills. Systems are
complex and people are needed to help translate that task. Therefore, IT professionals are
the ones responsible for helping others get their work done efficiently without the complex
jargon of the technology world.

Lets talk about careers for a moment. Employment for information technology and
related services are projected to grow rapidly over the next decade, outpacing similar
professional, scientific, and technical industries, as well as the economy as a whole.
According to the Bureau of Labor Statistics (BLS), output in computer systems design
and related services is expected to grow at an average annual rate of 6.1 percent [between
2010 and 2020], compared with 3.6 percent for the broad industry categoryprofessional,
scientific, and technical servicesand 2.9 percent for all industries. Compared to 2.6
percent for professional, scientific, and technical services and 1.3 percent for all other
industries, thats a huge demand coming up! Why is this happenings

Because the necessity for information technology is king. With the emerging popularity of
the Cloud technology, many organizations are taking this up as an alternative to actual
hardware using up space. Cloud computing service providers manage IT infrastructure and
platforms, and provide businesses with access to remote data storage and software

Another reason for the rise of IT careers is the need to defend our information systems
from countless attacks. Just in the past few years alone, the BLS reports there is a 17 -fold
Page |9

increase in the number of cyber-attacks on U.S. infrastructure between 2009 and

2011.Security companies also have produced reports that show large increases in security
breaches on private businesses in those years as well.

With the increasing need for IT professionals, this seems to be one of the more stable
careers for the next decade. One of the first steps to becoming an IT professional is to
obtain a degree or certification in computer or management information systems. Then you
must decide which field to go into, as there are many in the IT universe.

Here are some of the most popular positions for people interested in Information

1. Computer Systems Analyst.

In this position, analysts design and develop computer systems and are an expert at every
facet of hardware, software, and networks. Analysts also evaluate the systems and research
the industry for better products to enhance their existing system.

2. Cloud Specialist.
Cloud specialists organize and give configuration to the information infrastructure in the
sky. Because this is still an emerging technology, these architects are highly sought after
and one of the top-paying professions in the industry.

3. Computer Forensic Investigator.

These investigators are computer crime detectives that search for, identify, and evaluate
information from computer systems.

4. Health IT Specialist.
Health IT is booming, especially with Affordable Care Act coming on and transition from
paper to electronic health records. Health IT specialists will mix computer knowledge will
record-keeping skills, medical coding, and billing.

5. Database Administrator.
Database administrators create, upgrade, and test for databases.

6. Web Developer.
Web developers are in high demand because they have a great understanding of what
makes a good operating system. They create web pages, web applications and web content
with their knowledge of what the average surfer finds visually stimulating and how to
optimize sites for mobile tech, among numerous other skills.

7. IT Manager.
These managers are the contact pros when your email wont send or Microsoft Word
doesnt open. As the head of the IT department, they ensure that a companys network is
operating smoothly and that dangerous threats like malware are minimized.

8. Information Technology Vendor Manager.

Slightly more hands-off compared to some tech positions, vendor managers oversee supply
when it comes to software and hardware. This can mean anything from Microsofts latest
word processor to health IT programs for hospitals.
P a g e | 10

9. Computer Systems Administrator.

The expertise of network and computer systems administrators is essential to every office.
Aside from maintaining a healthy computer network, they also lend their tech knowledge
to managing telecommunication networks. This profession is expected to add 96,600 new
positions by 2020!

10. Mobile Application Developer.

Because of our highly-mobile lifestyle, mobile application developers are and will be in
high demand for years to come, especially as mobile devices and technology becomes
increasingly sophisticated.
P a g e | 11
P a g e | 12


THINK NEXT Technologies Private Limited (Formerly Brilliant Software Solutions) is an
ISO 9001:2008 certified software development company founded in August 2009 and it is
approved from Ministry of Corporate Affairs which deals in University/College/School ERP
Solutions, Android /iPhone Applications development, Web designing, Web development,
Discount Deals (,, Bulk SMS, Voice SMS,
Bulk Email, Biometric Time Attendance, Access Control, SEO/SMO, Database Solutions,
Payment Gateway Integration, E-Mail Integration, Industrial Training, Corporate Training
and Placements etc. THINKNEXT Technologies provides software solutions using latest
technologies e.g. Smart Card, NFC, Biometrics, GPS, Barcode, RFID, SMS, Auto SMS
(Short code), Android, iPhone, Web, Windows and Mobile based technologies

THINKNEXT has wide expertise in .NET, Crystal Reports, Java, PHP, Android, iPhone,
Databases (Oracle and SQL Server), Web Designing, Networking, Web Server
configurations, various RAID Levels etc.

THINKNEXT Technologies has also setup its offices in USA, Delhi, Shimla and Bathinda
for its software support. THINKNEXT has its own multiple Smart Card printing, encoding
and barcode label printing machines to provide better and effective customer support
solutions. THINKNEXT has also setup its own placement consultancy and is having
numerous placement partner companies to provide best possible placements in IT industry.

THINKNEXT Technologies has developed for the first time in northern region cloud
computing based Cloud Campus 4.0 to facilitate knowledge and placement centric services. It
is a unique concept for effective and collaborative learning.

1. THINKNEXT deals exclusively in campus automation through Smart Campus ERP

Solutions. Therefore we have better experience in handling large group of institutions
through proper time-tested policies and procedures.
2. First Company of India who has Launched NFC Technology (The Future) for Smart
Campuses through NFC Smart Cards.
3. First Company of India who has launched Android Version of Smart Campus ERP
Solutions for Mobiles and Tablet PCs.
4. First company of India who has developed SMS Opt-In Technology so that
Institutes/Colleges can send Transactional SMS with SMS Sender ID and without
SMS Template approval.
5. First company of Punjab, Haryana, Himachal, J&K (Northern region) who launched
Smart Cards (Contact Type), Smart Cards (Contactless) in Punjab for campus
P a g e | 13

6. First company of India which has launched its THINKNEXT Smart Card as Discount
Card in more than 120 enterprises.
7. Established own multiple Smart Card Designing, Smart Card Printing, Smart Card
Lamination and Oyster Barcode Printing Units.
8. Multiple SMS Gateway Support.

We provide Software Solutions using latest technologies or features:
Biometrics (Fingerprint with Automated Online)
Smart Card
Short code 56767 (Auto SMS)
ions (phone)
WAP (For WAP Enabled Mobile Phones)
Multiple SMS Gateway Support
Web based Technologies (365x24x7 services)
Windows based Technologies
Mobile based Technologies
Webcam support for various operations
Parallel Internet, Intranet and Wi-Fi Support

1.4 Vision:

THINKNEXT Technologies Pvt. Ltd. are already very flexible and scalable. Still, we
always take care of specific requirements of our clients. Our highly committed R&D
team makes our software feature rich, dynamic and future tuned everyday so that our
clients always maintain the lead over their competitors. The development of the
software is being done and the purpose full customization of the package is carried
out in the THINKNEXT lab.

1.5 Mission:

THINKNEXT is pioneer in Smart Campus ERP Solutions for

Universities/Colleges/Schools using latest technologies and features. We provide
software solutions using .NET, PHP, Android, iphone, Java technologies with three
tier-architecture support. We provide back-end solutions using MS SQL Server,
Oracle, and MySQL.
P a g e | 14

1.6 Quality Policy:

We have wide experience working with eminent Educationists, Managements,

Directors, Principals, Head of Departments, other Staff Members, Parents and
students. Therefore we do not sell only software Modules but an innovative system
which has more importance than just ERP software modules. Today Smart Campus
solutions are a need of hour for every University/Group of Colleges or an Institution
to make edge over others and maintain a lead over their competitors. Our Research
and Development team is committed to make your institute(s) to maintain lead over
their competitors.
More Services:

ThinkNEXT offers various industry-ready programs so that student needs not

to struggle for jobs. ThinkNEXT offers 6 weeks/2 Months/6 Months training
programs to make students industry.
ThinkNEXT is pioneer in providing best placements in Industry. We offer
minimum five job interviews for each student and provide 100% Placement
ThinkNEXT Offers Life-Time Validity Learning and Placement Card.
Students undergoing six months training will have advantage to learn free of
cost anything against that training program for life-time.
ThinkNEXT offers Part-Time/Full Time Job Offer for each student during
training so that students can earn while they learn. Student can bear their food,
accommodation and other expenses on.
P a g e | 15



Sunil Jindal
Munish Mittal


Sunil Jindal


Suresh Chandra


Mukesh Kumar
P a g e | 16


P a g e | 17
P a g e | 18


Company List

P a g e | 19

P a g e | 20



Web Designing
Software Quality Testing
Hardware & Networking
SEO, SMO & Bidding
Online Bidding (Freelancing)
Oracle / SQL Server
Animation & Multimedia
Cloud Computing

2. Electronics/ communication
Embedded System + Industrial Automation + Industry Training
Embedded System & Robotics + Industry Training
Android + Industry Training
Networking + Telecom + Industry Training
CCNA + Industry Training
MCITP + Industry Training
Advance Industrial Automation + Industry Training
Advance Embedded System + Industry Training

Industry Training in Finance
Industry Training in Marketing
Industry Training in HR

Instrumentation Design Training + Industry Training
Industrial Automation Training + Industry Training

Chemical Process Design + Industry Training
P a g e | 21

Piping Design + Industry Train

Civil Structural Design Training + Industry Training
STAADPro + Industry Training
AutoCad 2D/Isometric/3D + Industry Training
Autodesk Revit + Industry Training
Primavera + Industry Training 3Ds MAX + Industry Training

1.11ThinkNEXT Edge
Industrial Training and Certificates from Software/Electronics Company not just from an
Free Interview Preparation, Spoken English and Personality Development Programmers.
Opportunity to get placed in ThinkNEXT and numerous other companies.
Life-Time Validity Learning and Placement Card.
Part-Time/Full-Time Job Offer for each student during Training.
ThinkNEXT Cloud Campus advantage not only during training, even after completion of
training for life time.
One-to-one PC and Corporate Environment.
Learn from Developers/Industry experts rather than Trainers/Teachers.
Direct interaction with Developers/Industry Experts.
Industrial training programmers are designed to make students industry-ready.
Large Display LEDs in each Class-Room/Lab, Wi-Fi Labs.
Guest Lectures/Seminars by Industry Experts.
Every Student is provided with Live Projects mentored by Software/
Electronics/Industry Experts.
100% Placement assistance.

1. 12 ThinkNEXT Cloud Campus Advantages

Each Student will have Unique User ID and Password to Login to ThinkNEXT Cloud
Campus 4.0 anytimeanywhere
View Numerous Technical, Personality Development Videos anytimeanywhere
Students will be able to download e-Books, e-Journals, Class Notes, Important Links and
other study material.
ThinkNEXT Smart Campus is a step towards not only 100% placements but also better
job offers even after placements.
Student Profile, Instant Technical Updates, Class Notes, Project Report Submitted,
Attendance, Performance, Notice-Board, Class Timings etc. Everything online.
Communication with industry experts, Technologists through cloud Campus
Regular SMSes and E-mail for Related Job Offers.
Access through PCs, Laptops, Tablet PCs, Mobiles via internet.
P a g e | 22


P a g e | 23
P a g e | 24
P a g e | 25
P a g e | 26
P a g e | 27
P a g e | 28
P a g e | 29
P a g e | 30
P a g e | 31
P a g e | 32
P a g e | 33
P a g e | 34
P a g e | 35