Credit Control And Debt Management Training

INTRODUCTION

Are you struggling with managing overdue invoices and reducing debt within your business? Effective credit control and debt management are crucial for maintaining the financial health of any organization. Our comprehensive training course on Credit Control and Debt Management is designed to equip you with the skills and strategies needed to efficiently control credit and manage debt. This course on Credit Control and Debt Management is perfect for both individuals and professionals looking to enhance their knowledge and capabilities in debt control. You'll learn the essential steps for handling overdue invoice customers, ensuring that your business remains financially stable and robust. Through practical activities, theory, and real-world case studies, you will gain a deep understanding of how to manage credit accounts and implement effective debt management strategies. Whether you're new to the field or looking to update your skills, this training will provide you with the tools and confidence to handle debt control with ease. Our experienced trainers bring a wealth of knowledge and practical experience, ensuring you receive the highest quality education. Sign up and transform the way you manage debt in your business, leading to improved cash flow, reduced bad debts, and enhanced financial performance.

Course Objectives

By the end of this course on Credit Control and Debt Management, you will:

• Master techniques for collecting overdue customer invoices.
• Utilize the Debtor Ledger Questionnaire to evaluate and improve office procedures.
• Develop effective strategies to minimize current customer debt.
• Implement proven overdue invoice strategies to contact and negotiate with customers.
• Confidently use a phone script to handle overdue invoice calls and address common customer questions.

Duration

5 Days

Who Should Attend

This course on Credit Control and Debt Management is ideal for professionals in the administrative, business, and finance sectors responsible for managing credit accounts and ensuring efficient debt management.

Course Outline

• Introduction to Credit Control and Debt Management: Gain a foundational understanding of credit control and debt management principles.
• Cost of Running a Ledger: Explore the financial implications of maintaining a ledger.
• Labor Costs: Understand the impact of labor costs on credit control.
• Bad Debts Costs: Learn to manage and reduce bad debt expenses.
• Evaluation of Business Procedures: Identify and rectify inefficiencies in business procedures.
• Procedures for Credit Control: Implement effective credit control procedures and policies.
• Ledger Currencies: Manage multiple currencies within your ledger.
• Activities on Debt Collection: Master the activities involved in successful debt collection.
• Payments, Complaints, and Reports: Handle payments, manage customer complaints, and generate insightful reports.
• Strategies for Overdue Invoices: Develop and implement strategies to manage overdue invoices.
• Customer Excuses and Complaints: Address common customer excuses and complaints effectively.
• Phone Call Preparations and Script: Prepare for and conduct effective debt collection calls.
• Problems of Cash Flows: Tackle cash flow issues with confidence.

General Notes

• Our experienced trainers deliver this course through a blend of practical activities, theory, group work, and case studies, ensuring a comprehensive learning experience.
• Participants will receive training manuals and additional reference materials.
• Upon successful completion, participants will be awarded a certificate.
• We offer tailor-made courses to meet organization-wide needs. Contact us at training@skillsforafrica.org for more details.
• Training is conducted at the SKILLS FOR AFRICA TRAINING INSTITUTE in Nairobi, Kenya.
• The training fee includes tuition, materials, lunch, and the training venue. Accommodation and airport transfer can be arranged upon request.
• Payment should be made to our bank account before the start of the training, and proof of payment should be sent to training@skillsforafrica.org.