Date : 07/09/2018
Time : 9:00 am - 5:00 pm
Location : The HUB @ Jaya One, PJ-old
Contact Person : Esther Yong
Email : inquiry@knowledgehub-asia.com
Mobile : +012-2662728
Office Tel : +603-7622 0578
Normal Rate : MYR 0.00
Promotion Rate : Contact us for discounted rate.
Introduction
No business wants to turn good customers away. But identifying ones that are credit worthy and / or offer an acceptable amount of risk is not always easy. Today’s highly changeable economic climate demands a deeper understanding of a customer’s current and future ability to pay credit risks.
Businesses must have a clearly formulated credit and collection policy if they want to be paid promptly for their products and services.
Collecting payment is not a task which can be carried out effectively by just anybody. Collectors have to be trained and must understand the nature of the job.
Therefore, it is essential that staff responsible for debt collection be trained and have a proper understanding of the role of debt collection.
Course Objectives
- Understand the meaning of Profitable Business
- Collecting Debts while keeping your customer happy
- Effective Communication Skill
- How to analyse and grand credit to your potential customer
- Effective tips on debts collection
Course Outline
D A Y 1
EFFECTIVE CREDIT MANAGEMENT
- Purpose of Credit Policy
- Cost of having credit to customer
- Methods of assessing Credit Risk
- Assessment based on 5 C
- How to develop a Credit Rating System
- How to Determine net worth of the company
CREDIT INFORMATION AND CONTROL SYSTEM
- Assessment by quantitative technique
- Statutory Financial Statement
- Steps to take before approving limit and delivery
- Extra Financing to fund additional Debtor and impact on Income Statement
DEBT COLLECTION AND RECOVERY TECHNIQUE
- Telephone collection
- Statement of Account, Reminders, Letter of Demand
- Aged Debtor List
- Establishing procedure for overdue debt – use outside agencies
- Legal Proceeding
- Outsourcing of Account Receivable functions
PITFALL TO AVOID IN DEBT COLLECTION
- Poor Documentation
- Ambiguous Sales and Condition
- Third Party Transaction
- Do not follow the Credit Term and Rules
- Underestimate the Risk of granting credit to foreign customer
For registration please Contact :
Email : inquiry@knowledgehub-asia.comContact Person : Esther Yong
Mobile : +012-2662728
Office Tel : +603-7622 0578