Accounts Receivable and Credit Policies Management

The "Accounts Receivable and Credit Policies Management" course is designed for finance and credit professionals involved in managing and optimizing accounts receivable processes. This program provides comprehensive insights into effective credit policies, accounts receivable management, and strategies for minimizing credit risks. Participants will learn practical techniques to enhance cash flow, reduce bad debt, and maintain healthy customer relationships.

Statistics on the Importance of Accounts Receivable Management:

• According to the Credit Research Foundation, bad debt expenses account for 1-2% of total sales for the average company.
• A study by Euler Hermes found that 58% of businesses experience late payments, impacting cash flow.
• The National Credit Management Association reports that poor accounts receivable management can lead to increased financial stress and business failures.

Course Objectives:

• Develop a comprehensive understanding of accounts receivable principles and credit policies.
• Implement effective credit risk assessment and management strategies.
• Optimize accounts receivable processes for improved cash flow.
• Enhance customer relationships through strategic credit management.

Benefits of Attending:

For Participants:

• In-depth knowledge of accounts receivable and credit management.
• Enhanced skills in credit risk assessment and mitigation.
• Improved ability to optimize cash flow and reduce bad debt.
• Practical strategies for maintaining positive customer relationships.

For Organizations:

• Improved cash flow and financial stability through effective accounts receivable management.
• Minimized credit risks and bad debt expenses.
• Enhanced customer relationships and satisfaction.
• Increased efficiency in accounts receivable processes.

Course Outlines:

Day 1: Module 1 - Fundamentals of Accounts Receivable Management

• Understanding the Role and Importance of Accounts Receivable
• Key Principles of Effective Credit Management
• Credit Terms and Policies: Setting and Communicating Expectations
• Strategies for Monitoring and Managing Customer Credit

Day 1: Module 2 - Credit Risk Assessment and Mitigation

• Evaluating Customer Creditworthiness
• Implementing Effective Credit Scoring Models
• Managing and Minimizing Credit Risks
• Strategies for Dealing with High-Risk Customers

Day 2: Module 3 - Optimizing Accounts Receivable Processes

• Efficient Invoicing and Billing Practices
• Streamlining Collection Procedures
• Automation and Technology in Accounts Receivable Management
• Strategies for Reducing Days Sales Outstanding (DSO)

Day 2: Module 4 - Building and Maintaining Positive Customer Relationships

• Communication Strategies for Credit Management
• Collaborative Approaches to Credit and Collections
• Resolving Disputes and Negotiating Payment Plans
• Customer Education and Relationship Building Through Credit Management

This two-day course provides participants with the knowledge and skills to effectively manage accounts receivable and credit policies. Through a focus on fundamental principles, credit risk assessment, process optimization, and customer relationship management, attendees will gain practical insights to contribute to the financial health and stability of their organizations.