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Course Code: FNBN 1016
169 Course Visits
Mastering Credit Control
Course Sector:
Finance, Accounting and Banking
Course Dates and Locations
Choose a date and location to book your seat
No.
Date
Days
Location
Fees
Enrollment
01
5 Days
Dubai, UAE $4,250
02
5 Days
Online, Virtual $2,150
03
5 Days
Singapore,SG $4,950
Introduction
Training course introducion / brief
Having an effective credit control function is essential, as slow payment and bad debts can have a serious effect on the profitability and success of your business.
This course will guide you through the key principles of credit control. Credit control refers to managing and controlling a company's credit policy. It involves assessing the creditworthiness of potential customers, setting credit limits, monitoring outstanding balances, and ensuring timely collection of payments. Its goal is to minimize the risk of bad debts while maintaining a healthy cash flow.
Course Objectives
At the end of the training course, participants will be able to
- Interpret the key principles of credit control
- Demonstrate the importance of credit control to your business
- Discuss best practice credit control procedures and policies
- Assess the creditworthiness of potential customers
- Identify risk Assessment in Credit control
- Interpreting the credit risks and the tools to evaluate them
Course Audience
Who is this course for, and can benefit the most
-
Course Outline
The course aims and learning outcomes
Introduction to Credit Control:
- Overview of Credit Control
- Definition and importance of credit control
- Role of credit control in financial management
Credit Control Policies and Procedures:
- Effective credit control policies
- Credit control procedures
Credit Risk Assessment:
- Understanding credit risk
- Techniques for assessing credit risk
Customer Creditworthiness:
- Evaluation of customer creditworthiness
- Credit scoring models
Credit Terms and Conditions
- Setting Credit Terms
- Defining credit terms and conditions
- Net terms, discounts, and payment terms
Credit Limits and Monitoring
- Establishing credit limits
- Monitoring customer credit limits
Legal Aspects of Credit Control
- Overview of relevant laws and regulations
- Legal rights and responsibilities in credit control
Case Studies and Practical Exercises
- Analyzing real-life credit control scenarios
- Practical exercises to apply concepts
Effective Communication in Credit Control
- Effective communication strategies
- Dealing with difficult customers
Negotiation Techniques
- Negotiating payment terms and agreements
- Resolving disputes and conflicts
Building Customer Relationships
- Importance of relationship-building in credit control
- Customer retention strategies
Credit Control Tools and Technologies
- Overview of credit management software
- Implementation and best practices
Automation in Credit Control
- Streamlining processes with automation
- Benefits and challenges of automation
Data Analytics in Credit Control
- Utilizing data analytics for risk assessment
- Predictive modeling in credit control
Continuous Improvement Strategies
- Monitoring and evaluating credit control processes
- Implementing continuous improvement initiatives
Compliance and Legal Updates
- Staying compliant with industry regulations
- Updates on relevant legal aspects
- Group presentations and discussions.
Providers and Associations
Providing the best training services and benefits to our valued clients
Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
ENDORSED EDUCATION PROVIDER
Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
COURSE METHODOLOGY
Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
Since 2001, we have been pioneering the training field in the middle east, we managed to unlock potential and help individuals, teams and organisations to be the best that they can be with our full and integrated solutions.
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