* All fees are exclusive of vat ** PREMIUM - Customize your learning experience
This highly interactive training course on Billing and Credit Policies Management will assist the participants in keeping up-to-date with current accounts receivable management principles and international guidelines, while at the same time stressing the importance of and providing valuable advice on the most critical areas of credit risk management.
What Do Participants Learn?
Develop effective credit policies that meet a company’s objectives
Use billing best practices techniques
Employ effective collection policies
Partner with the sales force for the benefit of the company
Evaluate the accounts receivable process and implement best practices
Apply tools and techniques to effectively monitor AR performance
Who Should Attend?
Professionals in the field of finance and accounting, managers, supervisors, and finance professionals who need to understand, apply and implement practical tools to enable them to run the finance and accounting departments more efficiently.
What Will the Learning Experience Include?
Comprehensive pre-program activities include:
Web-based information forms & surveys completed by attendee.
Direct consultation with the attendee about the expectations.
During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
Participants learn from expert trainers who have both academic and business experiences.
Highly applicable training content & instructive activities for adding depth to training topics.
**A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.
Explore & Practice
Apply & sustain the learning experience by using this ongoing support:
To ensure participant has new skills or behavior progress.
Optional, fee-based mentoring & coaching with the trainer.
Training materials & additional documents (e-books, pdf files, presentations and articles)
Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
Section One: Establishing Credit Policies
What is the purpose of credit?
Outline of a credit policy:
Roles and responsibilities
Building a Credit Policy from the first principles
Identifying roles and responsibilities: introducing a control framework
Using Process Mapping to identify potential areas of conflict
Section Two: Credit Risk Assessment: Establishing the Criteria and Authority Levels
Credit risk assessment: establishing the criteria and authority levels
Establishing credit worthiness: intent and ability to pay
Analysing financial statements to determine company health
Other sources of credit information
Establishing Credit Limits
Offsetting credit risk: guarantees, bonds and insurance options
Key data required for the Customer Master File
Credit worthiness as a basis for debtor classification
Section Three: Billing Process Best Practices
Getting it right first time: Billing process defined
Authorisation levels, audit and control checks
Billing frequency and reconciliations
Accounting for VAT
Using technology to leverage the billing process
Benefits of an integrated Billing / Accounts Receivable solution
Third-Party solutions, including Electronic Data Interchange (EDI)
Section Four: Managing the Collection Process
Defining effective collection strategies based upon debtor value, risk and behaviour
Reviewing strategy effectiveness and establishing triggers for review
Automating the collection process: Leveraging workflow management tools
Engaging with “internal customers” to manage debtor performance
Aged analysis the debtor ledger using Microsoft Excel®
Defining strategies to manage – and resolve – customer disputes
Authorisation of escalation measures: litigation or insolvency
Section Five: Monitoring Credit Performance
Reviewing debtor performance
Tracking credit worthiness and updating risk ratings
Analysing debtor risk by category using Microsoft Excel®
Debt "at risk"
Provisions for “Bad” and "Uncollectable" debt
Action Plan: Review existing Credit Policies or Create a Fresh Set of Policies