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Managing and Organizing Accounts Receivable

by Golden Masters for Training & Consultancy

In the drive for increased revenue and profit, good credit and collections management is an important process to maximize cash flow for operations. Granting credit carries a higher risk of bad debts, delays, uncertainty and even possibiliti

AED 17000

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img Duration

5 Days

Course Details

In the drive for increased revenue and profit, good credit and collections management is an important process to maximize cash flow for operations.
 
Granting credit carries a higher risk of bad debts, delays, uncertainty and even possibilities of spoiling business relations. Companies are continuously in search for better solutions and better strategies to manage their credit, recognizing that whilst credit is an essential sales tool in today’s competitive environment.
 
Due to the recent credit crisis sweeping the global economy, fluctuating interest rates, increasing competition and growing uncertainty, managing credit and collections effectively is becoming more of a challenge. All industries are exposed to credit issues. As a consequence, granting credit effectively is becoming more of a challenge.
 
By attending this event, delegates will understand:
 
·         The importance of credit to the company and the economy
 
·         The “cost of credit” and its impact on company profitability
 
·         Practical steps that reduce bad debt losses and “uncollectible” debtors
 
·         How to deal with companies, sole traders, consumers
 
·         How to use different tools and techniques to maximize cash collection effort
 
Course Objective:
 
This truly complete seminar provides the delegate with an effective collections tool-kit and presents complex concepts in easily understood modules. This programme is unique in two ways:
 
·         - The comprehensive approach to the subject matter and
 
·         - The instructor’s interactive and engaging approach to facilitate
 
Course Certificate:
 
 Masters certificate will be issued to all attendees upon course completion
 
Course Outline:
 
Day 1
 
An Introduction to Accounts Receivable
 
·         Working Capital and Cash Management
 
    - Managing working capital
 
·         Cash management and the bank facility (line of credit)
 
·         Understanding “the cost of credit”
 
    -  Why credit management is important to the survival of businesses
 
    -  The ‘order to cash’ process
 
    -  Understanding “risk” in “credit”
 
·         Accounts Receivable and effective customer service
 
    -  Identifying underperforming areas to increase customer satisfaction
 
 Day 2
 
Customers and trading terms
 
·         Terms of trading
 
·         Customer credit evaluation
 
·         Tools and techniques of financial analysis: ratios; trends; common size analysis
 
    - The best performance measure – cash or profit?
 
    - Financial distress and the Altman's Z score-type analyses
 
    - Trend analysis
 
    - Common size (or horizontal) trend analysis of financial statements
 
    -  Vertical trend analysis of financial statements
 
·         Segmental analysis of financial statements
 
·         Value added analysis of financial statement
 
Day 3
 
Developing Effective Strategies to Maximize Cash Collection
 
·         Identifying effective “pre-delinquency” collection campaigns
 
·         Defining “post-delinquency” activities
 
    -  Customer-sensitive collection strategies
 
    -  Collection techniques and letter cycles
 
    -  Appropriate internal and external escalation steps
 
·         Using workflow management to maximize collector performance
 
Day 4
 
Practical Collection tools and Techniques
 
·         Eliminating barriers to payment
 
    -  Good practice in billing management
 
    -  Managing customer queries
 
·         Recognizing excuses and delaying tactics
 
·         Providing solutions to non-payment
 
·         Litigation and recoveries
 
    -  Legal steps and enforcement
 
Telephone Collection Techniques
 
·         Preparing for the call
 
·         Negotiation skills for successful collections
 
·         Communicating and listening skills
 
·         Building relationships with customers
 
Day 5
 
Managing the Receivables Ledger
 
·         Developing effective internal relationships to maximize performance
 
·         Setting targets and tracking performance
 
·         Managing information that dazzles
 
·         Defining meaningful KPI’s
 
·         Latest Developments in Accounts receivable

Masters Training Company was established in response to the growing need for quality training to support the business community within your Company, Department or Organization by providing a high standard of Training Programs, Courses, Seminars, Workshops and Consultancy Services to employees in a very competitive business environment. 

 
Following the latest trends and ideas in Technology and Management techniques, and with its in-depth knowledge of the business environment, Masters Training Company is able to meet the special requirements of both local and international business throughout the Middle East. Masters Training & Consulting is an independent multinational firm with more than 25 years of experience in helping regional organizations develop their human capital in all fields of management. 
 
Since 1990, we have been entrusted by our clients to provide the most reliable training and consulting products and services in the region. Our innovative and diversified range of training programs and consulting services are designed and delivered by an ever-growing team of full time multilingual consultants experienced in providing solutions relevant to this part of the world and applicable to today’s business challenges.
 
We pride ourselves on our track record in this regard and on our long-standing relationships with our clients, many of whom have been with us since we started business. 
 
 
Our public training programs have attracted more than 300,000 participants from almost 3,000 organizations many of whom also entrust us with their needs for bespoke in-company programs. Our client base is steadily growing and so is our commitment to remain the regional leaders in the fields of training and consulting.

Masters is also an approved vendor from KHDA & ILM

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  • Sheikh Zayed Road Branch

    Kherbash Tower, Office # 1803 & 1804, Sheikh Zayed Road, Dubai

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