Course Overview
Course Description
This intensive 5-day course equips finance professionals with advanced credit control skills. Participants will learn to assess credit risks, implement effective collection strategies, and navigate legal aspects of debt recovery. The course combines theoretical knowledge with practical exercises to enhance cash flow management and reduce bad debts.
Learning Objectives
- Develop a comprehensive understanding of credit control principles and best practices
- Master techniques for assessing creditworthiness and managing credit risks
- Learn effective strategies for debt collection and handling difficult customers
- Understand legal frameworks and compliance in credit management
- Enhance negotiation skills for successful credit terms and debt recovery
- Implement robust credit policies and procedures to optimize cash flow
Course Modules
Day 1: Fundamentals of Credit Control
- Introduction to credit management principles
- Understanding the credit cycle
- Credit policy development
- Key performance indicators in credit control
Day 2: Credit Risk Assessment
- Credit application evaluation techniques
- Financial statement analysis for credit decisions
- Credit scoring models
- Using credit reference agencies effectively
Day 3: Effective Debt Collection Strategies
- Developing a systematic collection process
- Communication techniques for debt recovery
- Handling common excuses and disputes
- Negotiation skills for credit professionals
Day 4: Legal Aspects of Credit Control
- Understanding credit-related legislation
- Contract terms and conditions
- Legal procedures for debt recovery
- Bankruptcy and insolvency implications
Day 5: Advanced Credit Management Techniques
- Credit insurance and factoring
- Technology in credit management
- International credit control considerations
- Developing a credit control action plan
Practical Wins for Participants
- Ability to implement a robust credit policy that balances risk and business growth
- Enhanced skills in negotiating favorable credit terms and recovering overdue debts
- Improved cash flow through effective credit risk assessment and management
- Confidence in handling complex credit situations and legal procedures
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