Effective Credit Control Training

Highly interactive, case studies based effective and proven to work techniques, this program on Credit Control is uses a very useful approach in dealing with day to day credit department’s needs.

Collecting accounts receivable without having adequate skills of negotiation could mean leaving money on the table.

What you will get from this course?

In this workshop, the facilitator hopes to share his 15+ years of practical experience in credit control, management, collection strategies, accounts receivable management, accounting and finance.

Understand the meaning and reasons for Credit Control
Appreciate the important of credit policy in defining the objectives, function and responsibilities of credit department to achieve maximum profitability from trading.
Realize the need of credit assessment due to selective risk-taking in the interests of increasing overall profitability.
Establish a Collection Policy that not only ensure recovery of debts, but also provide follow up procedures in monitoring and collection of debts

Learning Outcomes

Bad debt, the opposite of profit, unfortunately, is a part of doing business, but not something that cannot be managed and control to a minimum thus ensure the company stays on the right track of profitability.

Manage your company’s risks to minimize bad debts
Credit evaluation and credit limit review
Understanding of the credit assessment policy and its control mechanism
Optimal resource utilization, increased cash conversion
Reduced credit risk and excellent return on investment

Who Must Attend

Credit Assistants, Executives & Managers
Finance, Accounts & Admin. Executives and Managers
Executives to Senior Managers
Marketing Professionals in-charge of collection

COURSE OUTLINE/ AGENDA

Introduction

The origin of credit, its role and impact on the future

The Effects of Credit

The financial effects of credit on cost, profits, liquidity, and the effect of bad debts on profits

Credit Management

What is credit management?
Its objectives
Its relationship with Sales
Credit management and Customer ledgers
Reporting

Credit Policy

Define guidelines governing the operation of credit department and is divided into two parts:
- Policies and Procedures

Credit Assessment

Evaluation of credit risk of customers through analyzing sources of information and interpretation of financial statements
How to deal with new customer?
Customers – geographical risks
Establishing Creditworthiness/ Know your Customer
- Basic information sources
- In-depth information sources
- Credit limits and terms