Administration and Program Management

Overview:

Introduction:

This workshop focuses on the critical aspects of managing accounts receivable and implementing effective credit policies. It is designed to provide participants with the skills needed to optimize cash flow, reduce bad debts, and manage customer relationships through effective credit and receivables management practices. 

Workshop Objectives:

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

• Implement effective credit policies to minimize risks and improve cash flow.

• Manage accounts receivable efficiently to reduce outstanding balances and improve liquidity.

• Analyze customer creditworthiness using key financial metrics.

• Develop strategies to handle delinquent accounts and reduce bad debts.

• Use technology and automation to enhance accounts receivable management.

Target Audience:

• Accounts Receivable Managers.

• Credit Controllers and Analysts.

• Finance Managers and CFOs.

• Business Owners.

• Accounts Payable and Receivable Staff.

Workshop Outline:

Unit 1:

Credit Policy Development and Implementation:

• Understanding the role of credit policies in managing accounts receivable.

• Key elements of an effective credit policy: credit terms, limits, and risk assessment.

• Balancing the need for sales growth with minimizing credit risks.

• Developing customer creditworthiness criteria and implementing credit scoring.

• Creating a process for approving and reviewing customer credit limits.

Unit 2:

Efficient Management of Accounts Receivable:

• Best practices in managing the accounts receivable cycle.

• Techniques to optimize invoicing, collections, and cash application.

• Strategies to reduce the days sales outstanding (DSO) and improve cash flow.

• Handling overdue accounts: reminders, negotiations, and legal actions.

• Using technology and automation to streamline accounts receivable processes.

Unit 3:

Mitigating Credit Risks and Managing Delinquencies:

• Identifying and assessing risks in extending credit to customers.

• Techniques for monitoring and managing delinquent accounts.

• Steps to take in case of customer insolvency or bankruptcy.

• Developing policies for bad debt write-offs and provisions.

• Practical strategies for improving recovery rates from overdue accounts.