Level 1- Managing the Credit granting process:

Today’s commercial credit managers and their staff are facing the challenge of effectively managing the firm’s accounts receivable, which really begin at the credit granting level.

Yet, in most organizations, the credit process have been eliminated and the focus is now on!:

“Sell-it-and-Forget-it” - "Our Staff -Will-Collect-It”. 

Creating unlimited profit opportunities for 3rd party collection agencies, who industry stats indicates, are only able to collect 18% of the total receivables being outsourced to them.  This means that businesses are writing off 82% of receivables that get to the stage where they are sent to 3rd party agencies.

That is a lot of loss business profits.  So if you are ready to give credit management the leadership role it deserve in the creation of accounts receivable, start here.

Level 1 - training focuses on the following:

• The commercial credit function – an overview
• Types of commercial credit and the difference between consumer and commercial credit.
• Client credit files management and review system and techniques
• Credit Options -
• Obtaining and keeping a secured position as a creditor
• The Credit Granting and approval process
  • The C’s of credit and how they apply
  • Obtaining information and analyzing the information
  • Analysis of the financial position and capacity of the client to pay
  • Establishing Credit limits and managing the adherence to the established limits
  • Working with sales – Credit as a sales support tool.
• Managing customer files
• Establishing credit policies and procedures
• Setting Credit terms
• Evaluating the Credit application
• Communicating with clients – win-win
  • Holding orders and how to communicate this action
  • Requesting cash from past due accounts
  • Requesting cash on account over the limit
• Analysis of the credit risk without statements or credit reports
  • Operations
  • Longevity
  • Trade Payments – Bank References
  • Legal actions

Level 2- Collecting Accounts Receivable by design

With a good credit system in place, the collections process becomes a customer relations and receivables portfolio management function, where communication happens easily and clients are more receptive to compliance with written and previously established terms and will usually pay
on-time as agreed, within the credit/sales terms.

This does not eliminate the collections process, it just means that a good credit policy system will enhance the quality of the receivables and its ability to positively contribute to the cash flow needs of the company.

Level 2 - training focuses on the following:

• Establishing the Collector Aptitude Profile, with DiSC.

a. Adaptive Skills

b. Functional Skills

c. Technical Compatibility

• The Credit and Collections Industry;
• The Credit and Collections Cycle;
• Reporting Agencies and Function;
• The Job of a Collector;
• Communicating with Debtors;
• Understanding Delinquency and Delinquent Debtors;
• The Collection Call:
  • Telephone collections techniques;
  • Overcoming call reluctance ;
  • How to make an effective call, from open to close.
  • How to ask questions that get the required results.
  • How to ask fact-finding questions;
  • Motivating debtors to pay;

Review:

Phone: CollectAR at: (905) 305-6696

To request more information Contact