Collection from your Debtors always has a huge impact on cash flows and the sustainability of your company. Poor Credit Management and Bad Debts are a serious matter for any company. It has been known to ruin otherwise successful concerns. It is essential to ensure that your debt collection activities result in payment of the outstanding amounts, without damaging your customer relations. Collecting monies owed to your organization can be a big exercise and can be frustrating if you're not familiar with strategies that get results.
A better understanding of the credit assessment policy and its control mechanism, which covers credit evaluation and credit limit review, would lay down a strong foundation to manage your company’s risks to minimize bad debts. Not understanding negotiations and not having such skills and the required collection skills could reduce recovery rates and performance. For companies, a well trained employee means optimal resource utilization, increased cash conversion, reduced credit risk and excellent return on investment. However, with the understanding of the credit recovery policy plus acquiring of the appropriate tools, strategies and techniques through this training, collecting a debt can be professionally challenging and exciting career.
- Each participants will understand the functions of credit control and how it affects business activities. Very importance to know how to structure your credit policy very well to ensure the efficiency of credit control. Credit assessment also have their own influences on credit control.
- The participants will get knowledge about the best ways to avoid late payments. This ways can help the participants to control their credit flows based on R.U.L.E keys. Also easy for them to monitor and organised customer accounts for debts collection
- There are some tools of debt recovery where the participants can implement it on their tasks / jobs' scope. These tools are very useful where the participants can recover the debts and ensure the credit on accounts can be run smoothly.
- Each participants have the opportunity to involve in a role play; where they can be showed how to make a next step for any conditions that they will face later. Instead of that, they have a great time to make a preparation of letters related with credit and debts to vendors and customers.
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