THE EMERGING ISSUES & TRENDS IN CREDIT MANAGEMENT & DEBT COLLECTION SEMINAR, 10TH-11TH JUNE 2021 AT THE SAROVA STANLEY HOTEL, NAIROBI, KENYA
Greetings,
THE EMERGING ISSUES & TRENDS IN CREDIT MANAGEMENT & DEBT COLLECTION SEMINAR, 10TH-11TH JUNE 2021 AT THE SAROVA STANLEY HOTEL, NAIROBI, KENYA
PROGRAM OVERVIEW
The COVID-19 pandemic affected all economic and financial markets. Virtually all industries are facing challenges associated with the economic conditions resulting from efforts to address it. Many entities have seen sharp declines in revenues due to regulatory and organisational mandates and voluntary changes in consumer behaviour.
As the pandemic increases in both magnitude and duration, entities are experiencing conditions often associated with a general economic downturn. This includes, but is not limited to, financial market volatility and erosion, deteriorating credit, liquidity concerns, further increases in government intervention, increasing unemployment, broad declines in consumer discretionary spending, increasing inventory levels, reductions in production because of decreased demand, layoffs and furloughs, and other restructuring activities. The continuation of these circumstances could result in an even broader economic downturn, which could have a prolonged negative impact on an entity’s financial results.
Therefore, this practical hands-on 2-day seminar will direct you how to improve your organization’s processes to increase the efficiency of credit management and debt collection in the COVID-19 Era. 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 empower collectors and creditors with new skills to maximise collections, cut risk and improve cash flow in the COVID-19 era.
SEMINAR DETAILS
Venue: The Sarova Stanley Hotel, Kimathi Street, Central Nairobi, Kenya
Date: Thursday 10th – Friday 11th June, 2021
Course Fee: Ksh. 34,200 inclusive of 2 days attendance, buffet meals, teas, seminar kit and taxes.
Seminar Title: The Emerging Issues & Trends in Credit Management & Debt Collection Seminar
NITA: Participating organizations can claim reimbursement of fee paid in accordance with NITA Rules.
Pay Scheme: Organizations sponsoring 3 participants get the 4th to attend free.
COURSE COVERAGE
Module 1 - Credit management
- Commercial and consumer credit
- The major forms of credit.
- The benefits to manufacturers/producers, vendors and consumers of credit availability.
- Practical Exercise: Risks in allowing credit to customers.
Module 2 - Credit control
- The meaning of liquidity; liquidity management
- External methods of improving liquidity
- Sources of information about customers
- Practical Exercise: Data Protection laws
Module 3 - Credit control function
- The credit control process
- Credit control activities
- Credit control policy and procedures
- Practical Exercise: Application forms for credit
Module 4 - Financial analysis of customer accounts
- Analysing customer accounts: liquidity, profitability, gearing
- Profitability and performance indicators
- Working capital cycles
- Practical Exercise: Financial position measures
Module 5 - Credit scoring systems
- Credit risk level
- Credit scoring and calculating scores
- Shortcomings of credit scoring
- Practical Exercise: Summary of equation and ratio measures
Module 6 - Granting credit
- Factors affecting the decision
- Refusing credit
- Changes in credit terms
- Practical Exercise: Half-way house credit
Module 7 - Setting up customer accounts
- Policies and procedures letter and contents
- Credit period, limits, terms and discounts
- Penalties for late payments
- Practical Exercise: Credit insurance for sales
Module 8 - Running customer accounts
- Customers and contracts
- Elements of contracts
- Terms of commercial contracts
- Practical Exercise: Breaches of contract
Module 9 - Legal considerations
- Selling and statute law
- Trade descriptions laws
- Sales of Goods laws
- Practical Exercise: Consumer credit laws
Module 10 - Monitoring customer accounts
- Trading history review, average periods credit reviews, materiality
- Receivables (aged debtor) reports; interpretation, analysis and use
- Communications regarding chasing debts
- Practical Exercise: Doubtful and bad debts, provisions for doubtful debts
Module 11 - Methods of collecting trade debt
- Credit insurance
- Factoring and invoice discounting
- Third parties for collecting debts
- Practical Exercise: Checking contract of sale agreements and breaches of contract
Module 12 - Taking a customer to court
- The court system and claims
- Legal terms and enforcement of judgements
- Customers and insolvency, writing off
- Practical Exercise: Administrators and administrative receivers
TARGETED PARTICIPANTS
This is a very 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
· Loans, Credit and Debt Managers
· Revenue and Sales Officers
· Financial Administrators
· Business Owners, Directors and Entrepreneurs
· Revenue Officers
· Sales Managers
· Customer Care Department
· Staff Members Willing To Refresh Their Credit Management Skills
PROGRAM BENEFITS
- The trainers are highly qualified instructors with 20+ years of experience
- Gain competence at managing credit risk
- Learn strategies and techniques for mitigating credit risk
- Hands-on interactive sessions training covering all core concepts
- High quality downloadable courseware
- Course certificate after successful completion of workshop
COVID-19 PREVENTION
The following minimum infection controls will be observed:
- A minimum of 2 metres between each trainee
- A well aired room with windows open
- Soap, Water, Hand sanitiser & gloves made available to all trainees
- All hard surfaces thoroughly cleaned before, during & after training
- No other personnel allowed in the room until the course has finished
- No entry of personnel showing any symptoms of COVID-19
- Pre-screening Covid-19 questionnaire completed and approved before training commencement.
- All Government, DOSHS, MoH, WHO & guidelines to be adhered to.
Book Early, Limited slots due to COVID-19 Restrictions
To book this Course, contact Kate on +254 722 533 771
Profound Respects,
Kate Wanja,
Delight Africa Ltd,
Dev Towers - 5th 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
WhatsApp : +254 729 236 920
*‘**Promoting Professionalism in Corporate Training**’*
NITA Approved Trainers - No. TRN/1383
Quote of the day
"Don't wait until you're in a crisis to come up with a crisis plan." Phil McGraw
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