When companies sell their products or services, they at times demand cash on or before delivery, but in most cases they allow delay in payment. Trade credit forms about one- third(1/3) of the current assets of any company and therefore affects the working capital. According to Richard Brealey and Stewarts C. Meyers, Management of the Trade Credit requires answers to FIVE set of questions:
- On what terms do you propose to sell your goods or services?
- What evidence do you need of indebtedness?
- Which customers are likely to pay their bills?
- How much credit are you prepared to extend to each customer?
- How do you collect the money when it becomes due?
In this workshop, the facilitator hopes to share his practical experience in credit management, that is Credit Assessment And Recovery, the 2 important components that would outline how to carry out the roles, functions and responsibilities appropriately to cope with the pressures, within or outside your organization, in handling professionally issues related to debt collection and ensure the company stays on course to achieving its goals.
- Understand the meaning and reasons for Credit Management
- Appreciate the important of credit policy in defining the objectives, function and responsibilities of credit department to achieve maximum profitability from trading.
- Realise the need of credit assessment due to selective risk-taking in the interests of increasing overall profitability.
- Establish a Collection Policy that not only ensure recovery of debts, but also provide follow up procedures in monitoring and collection of debts
The training will be interactive. It will be delivered via lectures supported by group exercises, discussions and case study analysis.
Who must attend?
- Credit Assistants, Executives and Managers
- Finance, Accounts and Admin. Executives and Managers
- Executives to Senior Managers
- Marketing Professionals in-charge of collection
|3, Feramobi Ajike Street, Anthony Village
||Mar 13 - 13 Mar, 2017
15% for two participants and 10% for three or more participants from the same organisation