Develop Revenue And Debt Collection Skills
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COURSE DATES AND LOCATIONS
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INTRODUCTION
This Debt Collection Management course will assist you or your staff to fully understand how to manage your Clients who owe you money, ensuring your business always has a positive cashflow.
The course is designed for Business Enterprises who offer their clients credit terms and need to learn how to best manage their debtor’s book to maximize Working Capital.
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COURSE OBJECTIVES
At the end of this course you will be able to:
- Assess collection risk
- Make the most of developments in Revenue Collections technology
- Maximise Collector effectiveness
- Develop customer-sensitive collection strategies
- Create action-oriented KPI’s (Key Performance Indicators)
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COURSE AUDIENCE
This course is made for
- Collections Team Leaders & Senior Supervisors
- Accounts Receivable and Credit Team
- Billing Team
- Accountants
- Financial Controllers
- Finance Professionals who wish to improve their understanding of this area
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COURSE OUTLINE
DAY 1
Credit Risk Assessment – Why prevention is better than cure?
Credit Risk Assessment – tools, tips and techniques
Analysing 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
DAY 2
Billing Process – Getting it 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
DAY 3
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
DAY 4
Developing Effective Strategies to Maximise Cash Collection
Identifying Effective “Pre-delinquency” Collection Campaigns
Defining “Post-delinquency” Activities
Customer Sensitive Collection Strategies
Collection Techniques and Correspondence Cycles
Using Work Flow Management to Maximize Collector Performance
DAY 5
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
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