Effective Credit Control

Level
Total time

Starting dates and places

There are no known starting dates for this product. Stand & Deliver, Learning & Development offers this product as a default in the following regions:

Bradford, Chester, Derby, Lancaster, Leeds, Liverpool, Manchester, Preston, Salford, Wakefield

Description

Who Should Attend

Sole Traders, Owner Managers, Credit Controllers, Office Managers, and other key staff who need to increase their knowledge and know-how as applied to proactive cash collection and bad debt reduction procedures.

Overview

The field of credit control and collections is comprehensively covered in this programme. Taking the form of a participative workshop, participants undertake relevant practical exercises to reinforce their learning. Through expert tuition, they quickly come to understand and use the processes and procedures required for effective credit control so as to improve company cash flow and reduce debtors. This course could repay its cost many times over.

Outco…

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Who Should Attend

Sole Traders, Owner Managers, Credit Controllers, Office Managers, and other key staff who need to increase their knowledge and know-how as applied to proactive cash collection and bad debt reduction procedures.

Overview

The field of credit control and collections is comprehensively covered in this programme. Taking the form of a participative workshop, participants undertake relevant practical exercises to reinforce their learning. Through expert tuition, they quickly come to understand and use the processes and procedures required for effective credit control so as to improve company cash flow and reduce debtors. This course could repay its cost many times over.

Outcomes

 

Through their active involvement in this training, delegates will be able to:

  • Calculate the cost of credit to the company.
    • Understand what working capital is
  • Understand the Credit Cycle and the stages of Credit Control.
  • Evaluate your company's Terms and Conditions – Does your credit policy actually get you paid on time?
  • Know where to find and how to use Credit Ratings and References.
  • Plan cash collection targets by formulation of a credit control action plan
    • Understand how to deal with consumers, sole traders and companies by knowing your rights and theirs.
    • Use cash collection techniques that work: face-to-face, on the 'phone and written.
    • Deal assertively with aggressive and/or evasive customers.
    • Handle predictable excuses and convert them into positive action.
  • Identify insolvency signposts and take prompt action where appropriate.
  • Use County Court and High Court procedures when necessary.

Content

  • What is your current Credit Policy actually costing you?
  • The critical stages of Credit Control.
  • Establishing and implementing Credit Control - improve the bottom line.
  • Collection Techniques that work: letters, phone calls and visits.
  • Dealing with disputed debt.
  • Your organisation's and your customer's rights in law.
  • How to risk assess current and potential customers and set terms accordingly.
  • How to use the Legal System to recover debt, if all else fails.

Pre-Course Work

  None

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