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

The Essential Team Leader in a Day

Introduction and Objectives

  • Introductions & 'icebreaker'

  • An opportunity to share your current level of experience and knowledge and to look at key individual objectives from the course

What is Credit Management All About

  • I’m now a Team Leader, what do I do? What is expected of me?

  • Knowledge, skills, techniques, ability – do I measure up?

  • Am I a Good Communicator?

Setting Objectives

  • Setting objectives using the 'SMART' approach - for individuals and the team

  • Credit Control - a service role to the business. The importance of, and necessity for, superior Debt Management

Credit Measures

  • Understanding credit measures, risk assessment, cash goals, bad debt, service quality. Team work - standards. Discussion on goals and goal setting including deciding on key objectives together with relevant performance parameters

  • Recognition of the importance and purpose of a Debtor Day target (DSO) including the latest, most practical and relevant calculation methods. Other vital team performance parameters considered including; aged debt, problem fixing, customer satisfaction, risk control and legal collections - in order to monitor both individual and team performance.

  • Prioritising your Credit Measures (goals/targets) strategy in order to maximise team performance

Credit Risk

  • The consequences of neglect; erosion of profits through overdue accounts and bad debts; effect on cash flow

  • Identifying the customer; types of business organisation; parent subsidiary problems; credit application forms; using the sales team; references; credit reports; on-line information; the credit ‘grapevine’; the press; credit visits; financial information

  • The product; the market; the margins; the future; high risk and high profit margins?; the time problem!

  • Importance of close liaison with sales; setting and using credit limits; special payment terms; guarantees; retention of title; credit insurance; collections strategies and priorities; payment behaviours; bad debt provisions

Understanding The Law & Collections

  • Basic Legal Terminology - legal terms, their meanings and use in order to confidently and accurately understand and follow the entire legal collection procedures and system.

  • Legal Enforcements – Availability and Suitability - what you must do if the debtor does nothing. Enforcing and Executing your rights to payment after Judgement.

  • Brief understanding of winding-up, liquidations, receiverships and bankruptcies - when all else fails, what might happen to your debtor and how you might be able to limit the damage.

Monitoring Team Performance and Delivering Results

  • Communicating to Win the team

  • Challenging the team

  • Keeping the team on track and performing

  • Motivational ‘express’ - the stepping stones to success for team players

  • Delivering on a constant basis - performance consistency - enjoyable, challenging, doable

The Credit Policy

  • Overview, Purpose & Charter

  • Policies: Risk Assessment, Approvals, Credit Hold, Collections, Reporting, Admin, Query Control, Legal Collections etc.

Closing Session

  • Candidates are asked to give feedback on course and content

  • Completion of individual action plans

  • Mentor agreements

  • Recap over individual hopes and expectations of the course

  • Final analysis