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'Excellence is not a matter of chance but of choice'

Practical Credit Control

This highly intensive workshop, intended for all those involved in Credit Control, is an opportunity to 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. i.e. all the essential elements of Practical Credit Control.

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