Credit Control & Debt Collection Strategies

Introduction

In a time of economic uncertainty, businesses want a tighter control to ensure payments for goods sold are made on time. While credit is an essential sales tool in today’s competitive environment for increased revenue and profit, it is important during such times that buyers and suppliers have a strong collaborative relationship as they are both each other’s key business relationship to ensure their mutual health. If a supplier cannot access capital, it will fail. And when suppliers fail, the companies that rely on them face a higher likelihood of failing as well

Achieving excellence in managing debtors accounts and collection is critical in realizing and optimizing the profit and cash benefits of increased revenues. Good credit management will not only create value by improving cash flow, but also customer relationships would be enhanced in the long run

Good management, with sufficient cash resources, can accomplish almost anything – more revenue, more profit and more customers

Objective

This 2-day programme will give participants key strategies to reduce credit risks and bad debts while protecting the profit. Participants will learn the principles of managing credit and control to enhance debt collection

How will participants benefit?

• Understand the financial effects of credit management and how it impacts on the total cash management of the company
• Appreciate the key benefits in revenue management for the overall growth and performance of the company
• Understand the need of a credit policy to strengthen the evaluation of credit risk
• Identify and implement effective credit control to detect problem accounts early
• Effectively strategies for collection

Who Should Attend

This program is suitable for All Executives and Personnel involved in Credit Control, Accounts Receivable Collection, Finance, Marketing, Purchasing and Related Credit Management Function

Level for Executive and above

Methodology

This stimulating program will maximizes the understanding and learning through lecture, group discussion, case studies and practical activities

Module