Course Overview

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About the Programme

Cash flow management is vital to the health of your business. The oft-used saying, `revenue is vanity, profit is sanity but cash is king` remains sage advice for anyone managing company finances. To put it another way, most businesses can survive several periods of making a loss, but they can only run out of cash once.  The importance of cash flow is particularly pertinent at times when access to cash is difficult and expensive. A credit crunch creates extreme forms of both of these problems. When the `real economy’ slips into recession, businesses face the additional risk of customers running into financial difficulty and becoming unable to pay invoices – which, allied to a scarcity of cash from non-operational sources such as bank loans, can push a company over the edge.

Even during buoyant economic conditions, cash flow management is an important discipline. Failure to monitor credit, assess working capital – the cash tied up in inventory and monies owed – or ensure cash is available for investment can hamper a company’s competitiveness or cause it to overtrade

This four day course is designed to equip all staff involved in the credit control process, their supervisors and managers. This programme will benefit professionals who want to round out their professional education as they take on more management responsibility. In addition any member of the accounts department who requires a knowledge and understanding of credit control process will benefit from this course.

Course Objectives

At the end of the course each delegate will be able to:

  • Develop a high performing credit department within your company  that ensures adequate credit control

  • Develop a credit policy to suit your company’s unique needs and updating your current policy to meet new expectations

  • Implement target setting and income projection to pre-empt debt collection issues

  • Analyse the portfolio of debtors and creditors to enhance time management in credit management and debt recovery

  • Generate a successful credit scoring system  to determine credit worthy customers

  • Master effective negotiations in order to maximise the rate of successful debt collections

  • Maximise debt collection strategies by gaining a deeper understanding of the legal systems when debt collection fails.

Who Should Attend

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  • GM/Heads of Credit
  • Chief Credit Officer/ Credit Directors
  • Risk Director/ Managers/Officers
  • Debt Recovery Managers
  • Collections Managers
  • Cash Flow Managers
  • Revenue Managers
  • Credit Manager/ Administration Managers
  • Corporate Credit Manager/Officer
  • Credit Analysts
  • Loans/Fund Manager
  • Finance Managers
  • Operations Managers

Course Outline

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The Credit Function  

  • Organisation of the Credit Function

  • Process, procedures and authority - who has what and does it work?

  • Creating a ‘shared credit responsibility’ culture within an organisation

  • Role of Credit management in the business strategy

  • Credit management and the sales force

  • Embedding Credit control in the business

  • Receivables Administration – Planning, measuring and reporting receivables

Credit Policy and the Organisation

  • Preparing an outline proposal for a credit policy

  • Implementing a credit policy

  • Key elements of a credit policy

  • Consideration of external and internal factors affecting policy

  • Credit policy - strategies to influence and drive improvements within an organisation

  • Obtaining ‘buy in’ from sales and marketing department

Assessing Credit Risk

  • The fundamentals

  • Risk Categorisation

  • Credit scoring techniques

  • Risk mitigation techniques

Collection Techniques and Strategies

  • Assessing current methods of collection

  • Dealing with Account Queries to gain rapport

  • Managing Difficult Debts - Methods to deal with them

  • Effective Negotiation- Negotiating to reach the win/win situation

  • Best practice in Collection

  •  Practical Tips for improving debt collection

Legal Options in Credit Management

  • Debt Recovery through the legal system

  • Terms and Conditions – Importance and key elements

  • Documentation and evidencing

  • The Nigerian legal process.

Managing Retail Credit

  • Developing quality credit control for retail customers

  • Reporting and action planning

Location, Pricing & Dates

All courses are available in-house (your preferred location) but throughout the year, we run selected courses as scheduled programmes. To view scheduled courses, please hover over dates on the calendar below.

This course is scheduled to run on the following dates:

Nigeria: 17th - 19th June

Contact the Capworth Training Team for more information and to register for this course.