Course Overview
This course is designed to provide participants with a comprehensive understanding of effective credit management and debt collection practices. It covers the key principles and best practices for managing credit risk and collecting overdue payments, equipping participants with the necessary skills to minimize bad debts and improve cash flow. This course will enable participants to effectively manage credit and collect debts, ensuring improved financial health and stability for their organizations.
Course Duration
5 Days
Who Should Attend
- Credit Managers and Supervisors
- Accounts Receivable Managers and Staff
- Financial Managers and Analysts
- Debt Collection Officers
- Business Owners and Entrepreneurs
- Professionals involved in credit control and debt recovery
Course Objectives
By the end of this course, participants will:
- Understand the fundamentals of credit management and its importance in business.
- Develop effective credit policies and procedures.
- Assess and manage credit risk efficiently.
- Implement successful debt collection strategies.
- Enhance communication skills for effective negotiation and debt recovery.
- Utilize legal remedies and tools for debt recovery.
- Apply best practices for monitoring and managing overdue accounts.
Course Outline:
Module 1: Introduction to Credit Management
- Overview of credit management
- Importance of credit management in business
- Key components of an effective credit management system
- Developing and implementing credit policies
Module 2: Credit Risk Assessment and Management
- Identifying and assessing credit risk
- Techniques for credit risk analysis
- Credit scoring and rating systems
- Strategies for mitigating credit risk
Module 3: Effective Debt Collection Strategies
- Understanding the debt collection process
- Developing a debt collection strategy
- Communication techniques for debt recovery
- Negotiation skills for successful debt collection
Module 4: Legal Aspects of Debt Collection
- Legal framework for debt recovery
- Understanding debt collection laws and regulations
- Utilizing legal remedies for debt recovery
- Preparing and handling legal documentation
Module 5: Monitoring and Managing Overdue Accounts
- Setting up an effective monitoring system
- Techniques for managing overdue accounts
- Best practices for maintaining positive customer relationships
- Evaluating and improving credit management and debt collection processes
