This course is about increasing cash conversion and reducing credit risk. For many businesses, particularly small and medium enterprises, credit sales can be inevitable, first for survival and second for growth. Yet, these enterprises do experience difficulties in collecting debts after they make sales, some at such a level that cripples the businesses. Result is cash flow squeeze, diminished working capital and high level delinquency that results in low profitability or outright losses.
This course delivers credit sales management processes that avert calamities of bad debts without sacrificing growth and profitability.
- Tracking Customer Behaviors
- The Dynamics of Credit Sales
- The Pros and Cons of Credit Sales
- Establishing Creditworthiness
- Clarification of Risks of Exposure
- Days Sales Outstanding Measurements
- Your Business Credit Control Requirements
- Invoicing and Documentation.
- Establishment of Credit and Collection Policy
- Controlling Account Delinquency Levels
- Credit Control Strategies
- Credit Monitoring Process
- Invoice Factoring
- Proper Documentations
- Reconciliation Issues - Allocating Receipts to Appropriate Invoices.
- Statutory Compliance in Recovery Drives
- Credit Collection Resources and Drives
- Outsourced Collection Services
- Analysis of Receivables Risks
- Administering Receivables
- Receivables Carrying Cost
- Dispute Resolution.