Course Description
This intensive 5-day course provides comprehensive training on accounts receivable management, equipping professionals with the skills to optimize cash flow, reduce bad debt, and enhance customer relationships. Participants will learn best practices in credit policies, collections strategies, financial analysis, and technology utilization for AR processes.
Learning Objectives
- Develop and implement effective credit policies and procedures
- Master collection techniques to improve cash flow and reduce DSO
- Analyze financial statements to assess customer creditworthiness
- Utilize AR metrics and KPIs to enhance performance
- Implement best practices in AR automation and technology
Course Modules
Day 1: Foundations of Accounts Receivable
- AR function in organizational finance
- Credit policy development
- Customer onboarding and credit applications
- AR accounting principles and journal entries
Day 2: Credit Management and Risk Assessment
- Financial statement analysis for credit decisions
- Credit scoring models
- Managing credit limits and terms
- Risk mitigation strategies
Day 3: Collections Strategies and Dispute Resolution
- Effective collection techniques
- Managing the collections process
- Handling customer disputes and deductions
- Legal considerations in collections
Day 4: AR Metrics, Reporting, and Cash Application
- Key AR performance indicators
- AR aging analysis and reporting
- Cash application best practices
- Reconciliation and month-end close processes
Day 5: Technology and Process Optimization
- AR automation solutions
- Leveraging AI and machine learning in AR
- Integrating AR with ERP and CRM systems
- Continuous improvement in AR processes
Practical Wins for Participants
- Reduce DSO by implementing effective credit and collections strategies
- Improve cash flow through optimized AR processes and technology utilization
- Enhance customer relationships with streamlined credit management
- Increase operational efficiency and reduce costs in AR management
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
