Understanding Credit Control & Collections

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. 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 two-day course is designed to introduce all staff involved in the credit control process to rudimentary principles and best practices in credit control and collections. The programme will also benefit other experienced staff who wish to refresh their skills. 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, participants will be able to:

  • To improve collection performance by having confidence in dealing with external customers and internal business colleagues
  • Understand credit policy and their role in implementing the credit policy
  • Understand 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
  • Develop effective negotiations techniques in order to maximise the rate of successful debt collections
  • Maximise debt collection strategies by gaining a basic understanding of the legal systems when debt collection fails.

Who Should Attend

  • Debt Recovery Staff
  • Billing/Collections Staff
  • Credit Staff/ Administration staff
  • Finance Officers

Course Outline

  • Understanding the Credit Function
  • Know Your Customer
  • Receivables Administration
  • Collecting the Cash
  • Psychology of Collections 
  • Telephone Collection Techniques
  • Introduction to Negotiation and Influencing Skills

Location           Price (Ex. VAT)          Date

Nigeria              N145,000                   20th - 21st June 2016

Contact our client liaison team to discuss running this programme in house at your preferred location.