PROGRAM OVERVIEW
“Having bumper sales may not mean having bumper profits”.
Sounds familiar?
Very often, the problem is poor credit control and debt collection. Bad debt is a part and parcel of doing business.
However, with effective debt collection techniques, it is something that can be managed and controlled to ensure the organization
stays on the right track of probability.
A well trained employee in debt collection means increased cash conversions, optimal resource utilization and great return on
investment but many employees find debt collection frustrating and tough.
This 2 days high impact workshop will provide you with critical, fool-proof techniques that will help your company improve credit
management and debt recovery. Trainers will share valuable personal experiences and practical techniques in debt recovery while
retaining customers’ satisfaction.
SEMINAR DETAILS
Venue: The Sarova Stanley Hotel, Kimathi Street, Central Nairobi, Kenya
Date: Thursday 21st – Friday 22nd July, 2022
Course Fee: Ksh. 34,200 inclusive of 2 days attendance, buffet meals, teas, seminar kit and taxes.
Seminar Title: The Effective Credit Management & Speedy Debt Collection Skills Workshop
NITA: Participating organizations can claim reimbursement of fee paid in accordance with NITA Rules.
Pay Scheme: Organizations sponsoring 3 participants get the 4th to attend free.
COURSE COVERAGE
Module 1: Understanding company credit and debt:
- Reviewing the credit cycle from application to payment
- Identifying possible causes of outstanding payments
- Assessing the impact of outstanding debt on your company’s financial results
- Identifying ways in which you can motivate your customers to pay their outstanding
- Debts
Module 2: Credit Risk Assessment:
- Financial Factors Affecting Credit Decision (Financial Statements: What to Look for) Probability of Default,
Exposure at Default, Loss given Default, Expected Loss - Borrowing Need and Capacity Assessment
- Leverage and Coverage Ratios
- Liquidity, Profitability and Activity Ratios
- Cash Flow Analysis and Projections
- The Z Score
- Credit VaR
Module 3: Non-Financial Factors Affecting Credit Decision:
- Business Environment and Industry Status
- Company Vulnerability
- Management Integrity, Skill & Execution
- Exercises and Cases
Module 4: Debt collection as a vital financial activity:
- Completing debtor reports as an effective debt management tool
- Setting definite and realistic debt collection targets
- Comparing your debt collection results to your initial objectives
- Analyzing the return-on-investment of your debt collection activities
Module 5: Planning and preparing for effective debt collection:
- Preparing reports and statistics on daily collection sheets
- Classifying your debtors to enable a well-targeted approach
- Using the debtors classification to analyze the potential risk each debtor poses to your company
- Controlling customer accounting activities
- Drawing up a collection checklist to facilitate systematic collections
- How do you decide whether to collect the debt by telephone or by letter?
Module 6: Mitigating Risk Assessment:
- Setting the Credit Limit
- Review New Accounts
- Re-Evaluate Existing Accounts
Module 7: Essential telephone techniques:
- Ensuring that you are sufficiently prepared before dialling the number
- Understanding professional telephone procedure
- Dealing with angry customers and excuses
- Overcoming personal and company objectives
- Turning promises into commitments to pay
- Using agreed payment dates and reminders to ensure that the debt is paid
- Learning how to close calls amicably
Module 8: Collection Performance and Efficiency:
- Aging of Accounts Receivable and Bad Debt Reserves Analysis
- Accounts Receivable Turnover and Days Sales Outstanding
- Collection Effectiveness Index
- Analysing Operating and Cash Cycles
- Improving Working Capital Health
- Bad Debt Collection
- Factoring
- Overdue Ratio Calculation
- Discount & Prepayments
WORKSHOP STYLE
This will be a participative workshop with a mix of interactive learning sessions, exercises and discussions aimed to
provide maximum impact and learning retention for all delegates.
TARGETED PARTICIPANTS
This is a very important Seminar for all personnel who act as:-
· Credit Controllers, Managers & Supervisors
· Accounts Receivable Officers, Supervisors & Clerks
· Anyone with accounts receivable and credit collection responsibility
· Loans, Credit and Debt Managers
· Revenue and Sales Officers
· Financial Administrators
· Business Owners, Directors and Entrepreneurs
· Revenue Officers
· Sales Managers
· Customer Care Department
· Staff Members Willing To Refresh Their Credit Management Skills
PROGRAM BENEFITS
At the end of this workshop, participants will learn how to:
- Deal with delaying or non-payment excuses and reduce credit exposure of difficult customers effectively
- Collect from financially distressed debtors
- Grasp the importance of strategic importance of credit collection management and commercial/business awareness
- Master the art of collecting debts through phone and the three phases of collection call
- Successfully implement a proactive and practical credit management and debt recovery strategies to address delay/non payments
- Better understand different methods of collection (including negotiation) on debts
- Lay groundwork to make collection efforts produce better results
- Comprehend the legal perspective in debt collections and maximizing debt recovery through ligation procedures
- Write effective letters, faxes and emails that are shorter, clearer and deliver desired results
- Make the right decisions in credit collection and increase your organization’s Return on Investment (ROI)
- Use different debt collection techniques to different situations designed specifically for your customers
To book this Course, contact Kate on +254 722 533 771
Profound Respects,
Kate Wanja,
Delight Africa Ltd,
Dev Towers – 5th Floor, Suite 5A
Biashara Street, CBD Nairobi
P.O. Box 12269 – 00100, Nairobi Kenya
Land line: +254 722 533 771 (or) +254 700 221 221
WhatsApp : +254 729 236 920
*‘**Promoting Professionalism in Corporate Training**’*
NITA Approved Trainers – No. TRN/1383
Quote of the day
“Leadership and learning are indispensable to each other.” – John F. Kennedy
Other Upcoming Seminar (Course Fees Ksh. 34,200 P/P)
1. THE ADVANCED EXECUTIVE, ADMINISTRATIVE AND PERSONAL ASSISTANTS IMAGE, COMMUNICATION,
MANAGEMENT & LEADERSHIP SKILLS TRAINING SEMINAR 21ST-22ND JULY 2022 AT THE SAROVA STANLEY HOTEL, NAIROBI, KENYA
