Effective Credit Management and Debt Recovery

>Get Paid Faster  >Identify Risky Customers  >Reduce Bad Debt

Some of the topics covered at our seminars include:

EFFECTIVE USE OF CREDIT: Using credit to increase sales. Create and maintain loyal customers who pay promptly.

THE CREDIT INTERVIEW: How to obtain information required for effective analyses and how to verify accuracy of information.

 PAPERWORK: Consumer and Commercial Credit Applications. Invoicing. Purchase Orders. Monthly Statements.

 RISK MANAGEMENT: Credit Policy. How to reduce the credit risk and increase the probability of being paid faster.

  DEBT RECOVERY: Spotting the early warning signs. Identifying different debtor types. Effective follow up.

  EFFECTIVE ANALYSES: Using ratio's and comparative analyses. Credit Scoring – Credit References and Reports.

 IMPORTANT CONSIDERATIONS: Character, Capacity to repay. Collateral Security. Economic and other Conditions.

 CUSTOMER SREVICE: Prompt research, response and application of credit notes. How to handle difficult customers.

 BAILIFFS and LEGAL ACTION: Effective use. Screening. Reporting.

  DEBT COLLECTION TECHNIQUES: Effective use of the telephone. Written Communication. Personal Visits.

    WHY REVOLUTIONIZE THE DEBT COLLECTION DEPARTMENT: Increase revenue and reduce  operating  cost and expenses

 HOW TO KEEP TABS ON YOUR CREDIT POLICIES: Zero Delinquency = Weak credit policy and standard measurement.

 HOW TO SET THE BEST COLLECTION POLICIES FOR TODAY: Credit Limit Policy-What accounts to work and when.

 IMPLEMENTATION OF AN EFFECTIVE COLLECTION DEPARTMENT: Comprehensive collection software and revised letters.

 REVISION OFCOLLECTION POLICIES AND LETTERS: Complacency breeds mediocrity-Taken for granted or ignored.

 IMPACT OF ‘CHARGEBACK AND RETURNS’ ON COLLECTIONS: Inflation of delinquency portfolio. Enormous queries and disputes.

 METHODS OF COST EFFECTIVENESS: Benchmarking vs. No Measurement. Manual Approach vs. Automation. Departmental Outlay.

 RELEVANCE OF EFFECTIVE CREDIT MANAGEMENT SOFTWARE: Comprehensive reporting, reduction of labor intensive tasks, ensures accuracy and SMAC reporting.

 MEASUREMENT AND ANALYSIS OF COLLECTIONS: Totals collected- Promised Payment Arrangements-Ratios and Percentages-Time Scheduling.