Accounts Receivable and Credit Policies Management

Overview:

Introduction:

This training program is designed to enhance participants' skills in managing accounts receivable and developing effective credit policies. It covers essential techniques for optimizing cash flow, minimizing credit risk, and implementing best practices in credit management. It empowers them to improve financial stability and operational efficiency.

Program Objectives:

By the end of this program, participants will be able to:

• Develop and implement effective credit policies.

• Optimize accounts receivable processes for improved cash flow.

• Analyze and manage credit risk effectively.

• Utilize best practices in credit management to enhance organizational performance.

• Assess and refine credit management strategies to support financial objectives.

Targeted Audience:

• Finance Managers.

• Credit Analysts.

• Accounts Receivable Professionals.

• Financial Controllers.

• Business Owners.

Program Outline:

Unit 1:

Understanding Accounts Receivable:

• Overview of accounts receivable management.

• Importance of accounts receivable in cash flow management.

• Key components of an effective accounts receivable system.

• Methods for tracking and managing outstanding receivables.

• Techniques for improving receivables turnover.

Unit 2:

Developing Effective Credit Policies:

• Principles of credit policy development.

• Establishing credit terms and limits.

• Credit application and approval processes.

• Risk assessment and credit scoring.

• Procedures for handling credit disputes and collections.

Unit 3:

Optimizing Credit Management:

• Strategies for credit risk management.

• Tools and techniques for credit monitoring.

• Implementing credit management software and technologies.

• Best practices for maintaining customer credit relationships.

• Developing and enforcing credit control measures.

Unit 4:

Managing Accounts Receivable:

• Efficient invoicing and billing practices.

• Techniques for reducing days sales outstanding (DSO).

• Strategies for effective collections and follow-ups.

• Handling late payments and delinquent accounts.

• Reporting and analyzing receivables performance.

Unit 5:

Enhancing Financial Performance through Credit Management:

• Integrating credit management with overall financial strategy.

• Analyzing the impact of credit policies on financial performance.

• Continuous improvement in credit and receivables processes.

• Case studies of successful credit management implementations.

• Action planning for refining credit management practices.