Effective Credit Control

Who Should Attend

Sole Traders, Owner Managers, Credit Controllers, Office/Practice Managers and other key staff who need to increase their knowledge and know-how of credit control as applied to proactive cash collection procedures and bad debt reduction.

Overview

The field of credit control and collections is comprehensively covered in this programme. Participants in this workshop undertake practical, interactive exercises to reinforce their learning. Through expert tuition, they quickly come to understand and skilfully use the processes and procedures required for effective credit control. The outcomes for your organisation are improved cash flow and reduced debtors. This course will repay its cost many times over.

Outcomes

As a result of their active participation in this training, delegates will be able to:

  • Calculate the cost of credit to the organisation.
  • Understand what working capital is.
  • Understand the Credit Cycle and the stages of Credit Control.
  • Evaluate your organisation’s Terms and Conditions-Does your Credit Policy ensure that you get paid on time?
  • Know where to find and how to use Credit Ratings and References.
  • Plan cash collection targets using a credit control action plan.
  • Understand how to deal with consumers, sole traders and companies by knowing your rights and theirs.
  • Use cash collection techniques that work; face to face, on the ‘phone and written.
  • Deal assertively with aggressive and/or evasive debtors.
  • Handle excuses and convert them into positive action.
  • Identify insolvency indicators and take prompt defensive action where needed.
  • Use County and High Court procedures when necessary.

Content

  • What is your current Credit Policy actually costing you?
  • The critical stages of Credit Control.
  • Establishing and maintaining Credit Control procedures that improve the bottom line.
  • Collection techniques that work: letters, ‘phone calls and visits.
  • Dealing with disputed debt.
  • Your rights in law and your customer’s rights.
  • How to risk assess current and potential customers and set your terms accordingly.
  • How to use the Legal System to recover debt should all else fail.

Pre-Course Work

None

DURATION: 1 Day

Enquiry Form

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