Pogrammes

Bespoke and tailor-made training programmes for in-house training and coaching can be developed ad-hoc.

↧ Managing trade credit to sustain sound cash flow and long-term profit

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

To understand the importance of trade credit in today’s business world
To recognize the cost and the risks associated with trade credit;
To mitigate the risks associated with trade credit in a profitable manner;
To identify the best way to KYC prior to granting credit, including effective sources of information;
To focus your resources on the four major components of the credit function – Credit Sales Approval | Invoicing | Past due Accounts Receivable Management | Communication;
To gain and sustain competitive advantage in your market when selling on credit;
To categorise your customers to ensure prompt payment. Thus, securing sound cash flow management
To develop/restructure the internal processes and procedures in order to ensure sound cash flow and long-term profit;
To collect payments from your customers effectively using the best collection methods and practices efficiently.

↧ Effective telephone techniques in cash collection

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

To understand the principles of effective telephone communication in order to be able to better organise and manage telephone cash collection calls. This would result in better effective cash collection and sound cash flow management;
To understanding and apply two-way communication for better effectiveness
To appreciate the benefits and limitations of telephone collections;
To apprehend the best telephone techniques in cash collection;
To understand how active listening helps in cash collection by telephone;
To identify and evaluate the reasons why customers pay late;
To conveying good impression over the telephone when collecting dues;
To gain good customer relationship when collecting money from customers;
To make use of positive physiology when calling our customers;
To understand the best ways to deal with various types of customers over the phone, including angry customers;
To establish how to deal with customers’ excuses when trying to get paid.

↧ Transforming the credit function from a cost centre into a profit centre

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

To analyse the situation of the credit department within a given business context;
To understand clearly the importance of trade credit and the significance of the credit function;
To comprehend the rationale behind granting / extending credit;
To establish the goal driven guidelines supporting the purposes of the credit function;
To understand clearly the four major components of the credit function – Credit Sales Approval | Invoicing | Past due Accounts Receivable Management | Communication;
To identify the internal resources available in the credit department, including developing and retaining the right people for the job, team building and monitoring the performance of the credit team;
To create synergy between the Credit and the Sales functions;
To identify specific CSF for our credit function;
To take personal responsibility for the implementation, management, control and direction of the credit function.

↧ Synergy between the sales and the credit teams

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

To highlight the importance of synergy between the Sales and the Credit Teams within an organisation;
To identify the reasons why it is important to create synergy between these two critical functions;
To clearly understand the roles of the sales and the credit functions in a given business context;
To appreciate what makes a successful salesperson and a competent credit practitioner;
To apprehend the common factors of sales and credit;
To develop the necessary tactics in order to build close ties between the sales and the credit teams;
To deploy internal marketing for internal relationship building between the two teams;
To understanding why credit sales cost money;
To deploy customer-focused credit sales culture to protect cash flow and profit;
To adopt “The Credit Sales Win-Win Cycle” theory within the business;
To understand why and how to share information between the two functions;
To establish how to Manage the Credit – Sales relationship.

↧ Developing an effective trade credit policy

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

To analyse the existing credit processes and procedures, identifying possible gaps and pitfalls;
To determine the factors that influence a credit policy within a given business context;
To understand the effect of a credit policy on the profitability of a business;
To identify a set of objectives for an effective credit policy;
To establish clear policies for a given credit function and the appropriate procedures in order to achieve the policies efficiently;
To understand clearly what to include in a credit policy manual/document;
To define the responsibilities to manage the credit profitably, including levels of authority;
To write a clearly defined credit policy document in an effective manner;
To identify the different circumstances when to override the credit policy;
To appreciate the importance of involving other stakeholders when developing an effective credit policy;
To corroborate with the top management team of the business organisation and to get it duly approved;
To understand how best to communicate the credit policy with various stakeholders for better implementation, management and control.

↧ Selling on credit profitably

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

To understand your specific industry, understanding clearly its challenges and opportunities;
To develop and make use of an effective whilst efficient Credit Application Form which is doable and applicable to your industry;
To understand the importance of Know Your Customer prior to granting/extending trade credit;
To approve Credit Sales, securing profitable sales;
To understand how to use Credit Reference Agency Information to establish the credit worthiness of a prospective customer;
To comprehend the importance of effective invoicing/billing and what are the key elements of an invoice/bill;
To establish an effective Accounts Receivable Management System that ensures sound cash flow and long-term profit;
To determine the best method of managing our Overdue Accounts whilst keeping our customers buying and paying;
To build good Relationship Management in Accounts Receivable – gaining and sustaining competitive advantage in the market
To collect cash effectively by means of various methods, including – letters, e-mails, sms and telephone techniques when payments are due;
To Develop an effective Credit Policy.

↧ Building an efficient and productive credit team

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

To understand the role of the credit function within a business
To identify the major components of the credit function
To establish the necessary skills and resources required to manage the credit function effectively and efficiently
To understand how to set up and build a team –the expected Group Dynamics
To learn the art of delegation for effective implementation
To gain and sustain motivation within the credit team
To work on positive attitudes of the members of the credit team
To develop listening skills and determine what are the barriers to effective listening
To improve the verbal and the non-verbal communication within the credit team
To develop the necessary negotiation skills much needed by the credit team
To develop and maintain good relationship with all the stakeholders

↧ Managing the trade credit department

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

To understand the role of the credit department
To identify and assess the main functions of the credit department;
To establish the organisational structure of a credit department;
To analyse the best positioning of the credit department within the business organisation – reporting directly to the Managing Director | Sales Director | CFO
To determine how to create synergy with the Sales Departments and other business functions;
To establish a set of CSF for the proper management and control of the credit department;
To design and develop various reports in order to measure the performance of the credit department;
To understand why prompt payment is critical to the objectives of the credit department and to develop effective collection methods and techniques accompanied with processes and procedures;
How to manage the people employed in the credit department, including staff motivation and team building.

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

Managing trade credit to sustain sound cash flow and long-term profit

Learning objectives:

Documents

Social Media

Contact us