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The
Training!
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” -
"We-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 the leadership role 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
o
The C’s of credit and
how they apply
o
Obtaining information and
analyzing the information
o
Analysis of the financial
position and capacity of the client to pay
o
Establishing Credit limits
and managing the adherence to the established limits
o
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
o
Holding orders and how to
communicate this action
o
Requesting cash from past
due accounts
o
Requesting cash on account
over the limit
·
Analysis of the credit
risk without statements or credit reports
o
Operations
o
Longevity
o
Trade Payments – Bank
References
o
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/selling 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:
o
Telephone
collections techniques;
o
Overcoming
call reluctance
;
o
How
to make an effective call, from open to close.
o
How
to ask questions that get the required results.
o
How
to ask fact-finding questions;
o
Motivating
debtors to pay;
Review:
Phone:
CollectAR at: (416) 429-3282
Email
us from Contact:
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