This course is specially designed for the professional credit manager who needs to take time out to sharpen up existing skills and to share and compare knowledge with fellow professionals.
The workshop is geared towards group activity whilst also giving plenty of time for individual personalities to grow in confidence. By sharing and comparing their skills, credit managers will leave the course renewed and enthusiastic about their way forward for their respective organization.
Learning Objectives:
- At the end of this session, participants will be able to:
- Explain the developing role of the credit manager;
- Create credit policy and procedures;
- Improve cash recovery and management;
- Conduct economic forecasts;
- Implement the credit health-check approach;
- Prepare and interpret financial statements.
Course Outline
- Developing and implementing a debt management process
- Focusing on the loopholes within your organization
- Introducing new procedures to help boost your cash collection
- Finding your organization’s critical success factors
- Converting your monthly reporting to a decision-based tool
- Credit risk based customer segmentation
- Flexible determination of collection activities based on Business Rules Framework (BRF)
- Collections work list management
- Processing collections work items (outbound/inbound)
- Promise-to-Pay Evaluation of collection success
Course Timeline:
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This session complet...
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The essence of this ...
This is the first lesson in your three days of intensive training on Credit Management and Collection of Receivables. This lesson introduces the fundamental concept of credit management. It covers
1. Introduction
2. Characteristics of credit
3. Types of credit
4. Credit policy and organisation
5. Formulating your credit policy
6. Credit referencing
7. Financial statements
8. Credit reports
9. Purpose and scope of the agency report
10. External factors affecting a credit decision
11. Internal factors affecting credit decision
12. More generous credit is needed when
13. Restrict credit when
14. Criteria for a credit policy
15. Role of the credit policy documents
16. Contents of the credit policy document
This lesson covers chapters such as:
17. Credit control
18. The sales contribution
19. Collection efficiency measures
20. Determining the credit period
21. Working capital
22. Financial ratios
23. The credit manager
24. Essentials for successful credit management
25. Debt recovery policies
26. Causes of credit failures
27. Categorization of debtors
28. Best recovery approaches
29. Invoices and statement
30. Collection letters
31. Telephone conversations
32. Personal calls
This Lesson exposes you to various roles confronting you as a Credit Manager. It includes instructions as:
33. Collection agencies
34. Debtors tricks and how to tackle them
35. Patronizing debtors
36. Ambush an evasive debtor
37. Force of persistence
38. How to handle settlement proposal
39. Traditional method of debt recovery
40. Legal rights of the borrower and the lender
41. Process and implications of bankruptcy & liquidation
42. bankruptcy processes:
43. loan workouts
44. pre-negotiation preparation
45. the presence of lender liability
46. workout negotiations
47. fighting the lender in court
48. case study
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The objective of thi...