Practical Credit Control

Course

In Sandbach

Price on request

Description

  • Type

    Workshop

  • Location

    Sandbach

Enhance existing skills and knowledge through involvement in a series of specially designed, practical skills development, workshops. Subjects covered include: trading terms, terms of payment, making the decision to give credit, chasing the debt, measuring performance, setting goals and targets, using the courts, credit agencies, reporting principles and mechanisms, forming a credit policy. Suitable for: Intended for all those involved in Credit Control.

Facilities

Location

Start date

Sandbach (Cheshire)
See map
Po Box 64, CW11 1QA

Start date

On request

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Course programme

CONTENTS

Introduction and Objectives

  • Background to Credit Control.
  • The implications of granting credit.
  • Putting together an effective credit and collections strategy.

What is Credit Control?

  • Why have credit control?
  • The role and responsibilities of credit control.
  • How the credit function fits into the bigger picture.
  • Business objectives and the importance of cash flow.

Payment Terms

  • What to include in your conditions of sale to ensure maximum protection of your financial investment in the sale.
  • Retention of Title.

Pre Sale Activity

  • What is the point & purpose of risk control/vetting.
  • Can you establish if your customers are ABLE to pay?
  • Can you establish if your customers are WILLING to pay?
  • The need for credit limits.
  • Data sources - getting the information you want.
  • Analysing the data available.
  • Making the credit decision.

Credit Measures - Measuring Performance

  • DSO/Debtor Days - calculations and definitions.
  • Aged Debt.
  • Goals, targets and priorities.
  • Monitoring personal/team performance and effectiveness.
  • Measuring/calculating cash and cash flows.

Appreciation of Debt Collection Methods

  • Collection tools available.
  • Collection strategies.
  • Call planning.
  • Principles of good telephone technique.
  • Managing the collection process.
  • Prioritising techniques.
  • Escalation procedures.
  • Customer visits/meetings: preparation etc.

The Courts - Legal Collections

  • An appreciation of the legal system.
  • The Woolf reforms.
  • Making the decision to sue.
  • Brief overview of procedures: Preparation, Issue and Service.
  • Judgement and Enforcement - getting paid.

Liquidations: Receiverships: Bankruptcy

  • The legal trading entity.
  • Factors leading to liquidations etc.
  • Your rights.
  • Definitions and procedures.

Credit Policy

  • A Charter and Philosophy for Credit Control.
  • Understanding credit procedures/credit policy.
  • An effective working policy.
  • Liaising with Sales and Administration - a team solution.
  • Content and extent.
  • Purpose, applicability, provisions and responsibilities.

Conclusion

  • Analysis - questions - discussion.

Practical Credit Control

Price on request