Managing the Collections and Credit Control Team

Course Outline:

Module One:

Credit Risk Assessment – Why is prevention better than cure?

• Credit Risk Assessment – tools, tips, and techniques
• Analyzing Financial Statements to Determine Company Health
• Establishing Credit Limits
• Offsetting Credit Risk: Guarantees, Bonds, and Insurance Options
• Key Data Required for the Customer Master File
• Credit Worthiness as a Basis for Debtor Classification 

Module Two:

Billing Process – Getting it the right first time

• Billing Process Defined
• Authorisation Levels, Audit and Control Checks
• Billing Frequency and Reconciliations
• Accounting for VAT
• Using Technology to Leverage the Billing Process
• Benefits of an Integrated Billing / Accounts Receivable Solution 

Module Three:

Key Collection Tools and Techniques

• Eliminating Barriers to Payment
• Recognizing Excuses and Delaying Tactics
• Telephone Collection Techniques
• Developing Personal Assertiveness
• Negotiation Skills for Successful Collections
• Building Relationships with Customers 

Module Four:
Developing Effective Strategies to Maximize Cash Collection

• Identifying Effective “Pre-delinquency” Collection Campaigns
• Defining “Post-delinquency” Activities
• Customer Sensitive Collection Strategies
• Collection Techniques and Correspondence Cycles
• Using Workflow Management to Maximize Collector Performance 

Module Five:
Managing Revenue Collections

• Setting Targets and Tracking Performance
• Creating Action-oriented Reports
• Measuring Team / Individual Performance
• The People Plan – Motivating the Team and Managing Performance
• Developing Your Personal Action Plan