Effective Credit Administration and Debt Recovery Course

Packed with effective and proven to work techniques, our training program in Credit Administration, Accounting and Debt Recovery is highly interactive and uses a very useful approach in dealing with day to day collection needs. Collecting accounts receivable without having adequate skills of negotiation could mean leaving money on the table. On the other hand understanding negotiations and not having the required collection skills could reduce performance and recovery rates.

For companies, a well-trained employee means optimal resource utilization, increased cash conversion, reduced credit risk and excellent return on investment. With an abundance of practical and engaging collection and negotiation scenarios the program is tailored to challenge linear thinking that make the lessons practical and lasting.

The program is designed in a manner to tutor new collectors and at the same time stands as a refresher for the more experienced. Taught by  experts, this course is an intense training, yet enjoyable and very practical.  Bad debt, the opposite of profit, unfortunately, is a part of doing business, but not something that cannot be managed and control to a minimum thus ensure the company stays on the right track of profitability. A better understanding of the credit administration policy and its control mechanism, which covers credit evaluation and credit limit review, would lay down a strong foundation to manage your organization’s risks to minimize bad debts.

Collecting book debts appears to be ‘so difficult’ to many people and deem uninteresting. Many people also find collecting debts as an unpleasant job, not to mention frustrating and even complicating at times, even to senior staff. However, with the understanding of the debt recovery policy plus acquiring of the appropriate tools, strategies and techniques through workshop, collecting a debt can be professionally challenging and exciting career.

Learning Outcomes

What you will get from this course

• Understand the meaning and reasons for Credit Management
• Appreciate the important of credit policy in defining the objectives, function and responsibilities of credit department to achieve maximum profitability from operations.
• Realize the need of credit assessment due to selective risk-taking in the interests of increasing overall profitability
• Establish a Collection Policy that not only ensure recovery of debts, but also provide follow up procedures in monitoring and collection of debts.

Course Outline

• Setting Expectations
• What do you expect to learn from this course
• Sharing Real-Life  experiences of Problematic Debt
• Introducing Credit and Its impacts
• Background
• Consequences?
• Why need Credit managements?
• Credit management is
• Objectives
• Policies and Procedures
• Credit Assessment Policy
• Establishing Creditworthiness
• Opening New Account
• Basic information sources
• In-depth information sources
• Credit limits and term
• Credit Limit Review
• Case Study: Sales and Credit Relationship
• Collection Policy - ‘Chasing ‘Procedures
• Right Attitude for collection:
• Committed Attitude
• Get rid of wrong attitudes

Who should Attend

• Credit Assistants, Recovery Officers, Executives and Managers
• Finance, Accounts and Admin. Executives and Managers
• Executives to Senior Managers
• Marketing Professionals in-charge of collection

  Methodology

• Interactive input and Presentation
• Case Studies 
• Discussions, Q and A (Question and Answer)