This programme can run as an online or classroom training
(Available also for Customised Training by Duration, Venue & Fee)
In this course, we take candidates attending it through processes that avert calamities of bad debts. It is about reducing credit sales risk and increasing cash conversion rate.
Credit sales may be inevitable for your business, first for survival and second for growth. Yet you may find the business experiencing difficulties in collecting debts after delivering the products or the services. Sometimes, if not seriously and timely attended to, it is something that can cripple business.
Uncollected debts result is cash flow squeeze, diminished working capital and high level delinquency that results in low profitability or outright losses when debts are allowed to become totally bad.
Here, we deliver guidelines for credit sales policy, collection and receivables accounting and management. Candidates will learn to do it without sacrificing business growth and profitability.
Establishing Credit System and Procedure
How to establish Credit and Collection Policies
Review of the Organization’s Current Credit Terms
General Pros and Cons of Credit Sales
Specific Nature of Your Business & Credit Control Requirements
Tracking Your Customers Size and Capacity
Tracking Your Customers Behaviours
Establishing Customers Creditworthiness
Credit Control Strategies
The Dynamics of Credit, Safeguards and Guarantees
Invoicing Customers and Documentations Potency.
Credit Sales Classifications & Controls
Clarification of Risks of Exposure
Days Sales Outstanding Calculations
Controlling Account Delinquency Levels
Credit Monitoring Process
Reconciliation Issues & Allocating Receipts to Appropriate Invoices
Dispute Resolution and Negotiations.
Credit Collection Resources and Drives
Statutory Compliance in Recovery Drives
Outsourced Recovery Services
Analysis of Receivables Risks
Receivables Carrying Cost.