ATTEND: CREDIT MANAGEMENT, DEBT COLLECTION AND ACCOUNTS RECEIVABLES SEMINAR,27-28 JULY 2017, KSMS, NAIROBI KENYA
Bad debt, the opposite of profit, unfortunately, is a part of doing business, but not something that cannot be managed and control to a minimum thus ensure the company stays on the right track of profitability.
Effective and efficient managers now view the credit and collection function as an overlooked profit maker. Without added investment, improving collection adds substantially to the bottom line. Being able to extend the right amount of credit to the right accounts can expand sales and profits at almost no expense. That is why neglecting to manage credit and collection is like sabotaging your own business.
For companies, a well-trained employee means optimal resource utilization, increased cash conversion, reduced credit risk and excellent return on investment.
We therefore invite you to our Seminar on CREDIT MANAGEMENT, DEBT COLLECTION AND ACCOUNTS RECEIVABLESthat will be held on27th-28thJuly, 2017 at THE KENYA SCHOOL OF MONETARY STUDIES, NAIROBI, KENYA.
This practical 2-day training course will show you how to improve your organization’s processes to increase the efficiency of credit collection. We look at how to best deal with customer excuses and manage disputed accounts correctly, and how to successfully negotiate repayment arrangements.With an abundance of practical and engaging collection and negotiation scenarios this program is designed to tutor new collectors and at the same time stands as a refresher for the more experienced ones.
Venue:The Kenya School of Monetary Studies, Nairobi Kenya
Date:27th-28thJuly, 2017
Course Fee:Ksh. 33,600 inclusive of 2 days attendance, buffet meals, teas, seminar kit and taxes.
Pay Scheme: Organizations sponsoring 3 participants get the 4th to attend free.
COURSE OUTLINE
How Accounts Receivable adds value to your organization
• The role and purpose of credit in business
• Defining the three stages of credit
• The role of accounts receivable and debt collection in the supply chain
Practical Exercise: KPIs for a successful accounts receivable team
Critical elements of a successful credit policy
• Developing an effective credit policy framework
• Creating credit policies that work with your sales teams
• Designing a good credit application and critical terms to include
• Managing the risk of default
• Practical Exercise: Debt escalation procedures
Assessing a customer’s creditworthiness: Your checklist
• Understanding the types of information available about your customers
• Analyzing both financial and non-financial information
• Trade references and third party reports
• How to analyze the balance sheets of key customers
• Field sales reports and customer visits
• Practical Exercise: Detecting early warning signs and acting upon them
Customer communication and disputed accounts
• Customer profiling: What is your customer's mindset? Why do they not pay on time?
• Dealing with difficult customers
• Managing disputed accounts correctly
• How to negotiate with customers
• Practical Exercise: to improve the success of your debt collection
Improving performance, efficiency, and accuracy in your processes
• Maximising staff productivity and collections
• Increasing the efficiency of your credit collection
• How to set up efficient and user-friendly filing and records systems
• Minimising fraud in accounts receivable
• Practical Exercise: Establishing key performance measures for credit management
Examining how and when to take legal action
• Important factors to consider before taking court action
• Using the Disputes Tribunal
• Court proceedings: Information capsules, interlocutory steps, timeframes and documentation
• Practical Exercise: Enforcement options: What is the best way to get paid?
Introduction to Insolvency for Credit Managers
• What happens if a customer goes into liquidation or bankrupt?
• Preferential payments: Where are you in the queue?
• Practical Exercise: Working with liquidators and receivers
WHO SHOULD ATTEND
This is an important Seminar for all personnel who act as
· Credit Controllers, Managers & Supervisors
· Accounts Receivable Officers, Supervisors & Clerks
· Anyone with accounts receivable and credit collection responsibility
· Debt Managers
· Accounting Officers
· Financial Administrators
· Office Managers
· Customer Care Department
· Staff Members Willing To Refresh Their Credit Management Skills
METHODOLOGY
- Interactive input & presentation
- Case Studies
- Discussions, Q&A (Question and Answer)
A better understanding of the credit assessment policy and its control mechanism, which covers credit evaluation and credit limit review, would lay down a strong foundation to manage your company’s risks to minimize bad debts.
CERTIFICATE
Upon successful completion of this program, participants will receive a Certificate of Achievement.
TESTIMONIES
“I learnt how to engage better with customers. Overall, it is an excellent training.”Credit Control Officer, Michael Muciri
“I got to learn what I needed which is the strategies and effectiveness of debt collection.” –Manager, Janet Moraa
“During the course, I gathered new strategies of debt collection, all areas covered were great.”– Accountant, Cedric Angwenyi
Limited slots are available for this Event.
Formore information on participation, contact Catherine.
Profound Respects,
Catherine Wanja,
Delight Africa Ltd,
DevTowers - 4th Floor, Suite 4A
Biashara Street, CBD Nairobi
P.O. Box 12269 - 00100, Nairobi Kenya
Land line: +254 722 533 771 (or) +254 700 221 221
Fax : 020 222 54 39
WhatsApp : +254 729 236 920
*‘**Promoting Professionalism in Corporate Training**’*
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