Effective Credit Management & Debt Recovery

Many companies relegate the approval of credit and collection of debt to staff with no prior experience or knowledge relating to this function. This will increase the risk of the company in terms of bad debts and increase the amount of losses to be written off.

This will be made worse when the company enjoy bumper sales and not getting the profit that they are looking for. Very often the problem is poor credit evaluation of customers and poor credit control and debt collection.  

However with a well trained credit control team, this can be managed and controlled to ensure that the company stays on the right track to profitability. A well trained employee in credit management and debt recovery means increased cash conversions, optimal resource utilisation and great return on investment. 

Learning Objectives:

• Evaluate prospective customers qualitatively and using financial ratio analysis.
• Using credit agencies to check on customers credit rating and legal cases against them
• Setting credit limit and credit term
• Grasp the importance of credit collection management and commercial/business awareness
• Deal with delaying or non-payment excuses and reduce credit exposure of difficult customers effectively
• Collect from financially distressed debtors
• Master the art of collecting debts through telephone
• Implementing proactive and practical credit management and debt recovery strategies to address delay/non payments
• Better understand different methods of collection (including restructuring) on debts
• Lay groundwork to make collection efforts produce better results
• Comprehend the legal perspective in debt collections and maximizing debt recovery through ligation procedures
• Write effective letters, faxes and emails that are shorter, clearer and deliver desired results
• Make the right decisions in credit collection and increase your organization’s Return on Investment (ROI)
• Use different debt collection 

Who Should Attend:

• This course is suitable for Executives, Business Development Officers, Managers, Department Head, Finance Personnel, Business Owners, Entrepreneurs.

Methodology:

• Brain-friendly/Interactive Lectures
• Interactive Experience Sharing
• Case Studies
• Video/Audio Presentations
• Practical Exercises

Key Contents:

• Module 1: Introduction To Credit Evaluation
• Module 2: Introduction To Debt Collection
• Module 3: How To Lower Your Risk Factors?
• Module 4: Attributes Of An Effective Collections Staff
• Module 5: Effective Collection Techniques
• Module 6: Effective Telephone Techniques
• Module 7: Debtor Profiles
• Module 8: Delays & Objections/Disputes, Gatekeepers