Credit Management and Debt Collection

The aim of this course is to provide participants with practical sessions and tools to manage their accounts receivable and improve their cash and working capital.

Credit Management is a wide-ranging general term, which covers the entire processes, systems, methods and actions that you use in your business in order to manage the Credit you provide to your clients/customers.

Each of these essential functions of your business will be dealt with and discussed in more detail, on separate fact sheets. What is the debt collection process? Debt collection is the process and practice of pursuing payments of debts owed by individuals or businesses.

Course Objectives

The objectives of this Credit Management and Debt Collection course are:

• Understand debtors and know how to communicate with them effectively
• Manage your company’s risks and minimize bad debts
• Use Credit evaluation and credit limit review
• Gain a clear understanding of debt collection, recovery, negotiation, and credit control management practices.
• Design and implement robust credit control systems and processes to reduce the risk of defaulters impacting the organization’s financial position.
• Develop simple, clear credit policies and guidelines to ensure precautionary measures are understood and consistently applied across the organization.
• Establish strict guidelines for customer onboarding and other finance-related activities to prevent issues related to lending, credit, and financial support.
• Equip participants with the knowledge and skills to train other professionals on best practices in debt collection, recovery, negotiation, and credit control management.
• Understanding and applying the credit assessment policy and its control mechanism
• Get Optimal resource utilization, increased cash conversion
• Reduced credit risk and excellent return on investment
• Practical and engaging collection and negotiation scenarios
• Establish a Collection Policy that ensures recovery of debts and also provides follow up procedures in monitoring and collection of debts