COURSE OBJECTIVES: The morning session explores best practice credit collection techniques from maintaining and updating the debtors ledger (including rent arrears) to making effective telephone calls. The afternoon session reviews how to effectively manage working capital and how to calculate and understand working capital performance measures. The course shows how good working capital management can free up much needed cash flow within the organisation.
Participants leave the morning with a solid understanding of a wide variety of credit management and collection techniques, increasing confidence in collection. The afternoon clarifies the components of working capital, looks at how to manage working capital and the important link to cash flow.
COURSE CONTENT
Techniques for Qulaity Collection
- Interpreting the aged debt report and prioritising customers for collection
- Making your invoices and customer correspondence work for you
- Liaising with the sales force
- Keeping close to the customer
- Effective reminder letters
Telephone Skills
- Developing assertiveness and confidence
- Planning the call
- Questioning techniques
- Common excuses and how to overcome them
- Maintaining good relations
Measuring Working Capital
- What is Working Capital
- Arrears outstanding, days purchases outstanding,
- Benchmarking working capital
- Working Capital cycle
Managing Working Capital
- Practical drivers of working capital
- High price of mismanaging working capital
- Effective management of trade receivables, trade payables and inventory
- Effective systems
Measuring Cash Flow
- Strategic cash flow analysis
- Cash performance ratios
- Gearing & interest cover
WHO SHOULD ATTEND
This course is suitable to those responsible for managing working capital who may not have had any formal training. It provides an in depth understanding of how credit management contributes to working capital management, and how effective working capital management
Would you like this course run in-house? Call us on 0207 566 8207 to find out more