Training you can mix and match

Cash flow
The cost of credit
Working capital
The effect of credit on profits and liquidity
The financing of credit and the effect on your business of being paid late

The credit function
Establishing credit terms (and ensuring your customer adheres to them!)
Monitoring & controlling the debt
Sales ledger maintenance
Recoveries
Reporting

Assessment of risk
Overview
Key requirements
Customer identity
Credit Application Form / Terms & Conditions
Bank/Trade references
Credit reference agency reports
Financial strength of customer

Types of customer
Sole traders
Partnerships
Limited Companies
Other types of customer

Credit policy
Purpose
Objectives
Procedures
Appendices
Benefits
Measuring performance

Credit decisions and controls
Judgmental decision making (credit or no credit?)
Credit decisions
Guarantees
Credit limits
Settlement discount
Late payment charges

Invoicing and receipting/allocation
Designing a ‘killer’ invoice
Essential steps for effective invoicing
Invoice accuracy
Receipting and recording of payments
Dealing with underpayments, overpayments and unallocated cash

Relationships
Credit v Sales
Credit v Other Departments

Negotiating and influencing
Negotiation Skills
Negotiation Techniques
RADPAC Model of Negotiation
Tips for successful negotiation
The importance of win; win outcomes

Assertiveness
Improving self-esteem
Personal confidence
Replacing aggressive and passive communication with assertiveness

Collection procedures
Overview
Planning
Collecting payment without losing the goodwill of your customers
Aiming to be first in line for payment!
Telephone techniques (tone, types of question, securing commitment to pay!)
Dealing with queries
Dealing with excuses
Reasons for non-payment
Letters (content and timing)
Benefit.

Credit control meetings
Advantages / disadvantages
Internal / external meetings
Five key steps:
Planning Preparation
Informing
Structure & Control
Summarising and recording
Follow-up

Third Party Action and Debt Recovery through the Courts
Advantages / Disadvantages
Factors to be considered before making a decision
Statutory Demand
Legal Proceedings
High Court
County Court
Pre-Action Protocols
Money Claims On-Line
Do I need a solicitor?
Interest on debts
Seeking Judgment
Enforcing Judgment
Personal/Company insolvency overview

“Tailored public service and charity sector training is also catered for, as well as international training in all areas of credit management / collection / cash flow”