   |
|
About Us | Upcoming Seminars | Past Seminars | In-House Courses | Enquiries |
(21) EFFECTIVE DEBT COLLECTION &CREDIT CONTROL MANAGEMENT
KUALA LUMPUR l 18-19 September 2008 KUALA LUMPUR l 17-18 December 2008
Discover
Practical and Effective Solutions to all Your Debt Collection
& Credit Control Challenges! Bad
debt and working capital are serious concerns for any company and business
today. It has been known that cash flow problems have lead to the
ruin, failure and bankruptcy of otherwise successful concerns in the
industry. Therefore,
it is very essential to ensure that your credit control management and
debt collection activities result in TIMELY payment of the outstanding
debts from your customers, without damaging your good customer
relations with your clients. At
this intensive course, you will learn to understand and appreciate the
importance of credit control and debt collection, how to plan an
effective debt collection program and to acquire and apply
effectively proven techniques for debt collection (written and
through telephone). The
course will cover: 1.
Interpretation of the customers/clients financial reports
and its performance indicators. 2.
How to set up an effective credit control procedures and how
to evaluate customers/client credit worthiness, how to extend appropriate
credit terms 3.
How to identify “problem customers/clients” under the credit
control guidelines and to handle the situation effectively 4.
How to control and manage your debts collection effectively 5.
How to manage your slow paying accounts and difficult
customers/clients on collection and applying effective steps
leading to prevention of bad debts 6.
How to handle the situation of bad debts and what other
alternatives to follow on bad debts recovery 7.
How to insulate from bad debts crisis with good and effective
payment terms and tools such as Letter of credit etc 8.
How to negotiate and collect monies under Letter of credit
and what are the pitfalls of Letter of credit, negotiation
documents. 9.
How to manage and supervise your credit control team 10.
How to manage and measure your finance department on credit
control and collection performance 11.
How to get your sales team to be part of the credit control
functions and to improve collections from your customers/client 12.
How to handle and manage your collections overseas
13.
How to set up a local and international credit policy 14.
How to apply collection techniques and skills over the
telephone 15.
How to meet the customers expectations with effective credit
terms 16. How to manage your working capital effectively 17. How to source for your working capital effectively together with your credit collection plan
COURSE OBJECTIVES By the end of this course, participants will be able to:
·
Gain
a good understanding of the effective methods of collection
(including negotiation) on debts ·
Develop
and manage credit control policy
effectively ·
Identify
and minimize the cost of bad debts and avoidance
of bad debts ·
Improve
Return On Investment, company and business profitability & make
real-time credit decisions ·
Make
good and effective decisions on cash management and collections ·
Acquire
good and effective skills on debts collection
WHO
SHOULD ATTEND CEOs,
CIOs, CFOs, Finance Managers, Accountants,
CTOs, Loan Managers & Officers, Business Development Officers,
Marketing & Sales Professionals, E-Commerce Development Professionals,
Credit Managers & Analysts and Credit Committee Members.
COURSE
SCHEDULE Note:
This schedule is a guide and may be modified depending on the group
dynamics and the needs of the participants. Day
One Understanding
on the Methods of Collections (including Negotiation) of Debts, How
to Improve Cash flow and Reduce Risks 1. Who is a customer 2. Customer risks 3. Other type of risks e.g. political, currency, legal, economic,
government regulations 4. International Credit Policy 5. Tips to International Credit Policy 6. Credit policies e.g. in U.S.A/Europe/Asia 7. Monitoring 8. Methods of payment 9.
Type of payment terms 10.
Type of credit 11.
Transfer of title of goods 12.
Legal title of the goods 13.
Cash Flow management 14.
Working Capital Management 15.
Cost of capital
Day
Two How
to Improve Credit Collection and Reduce Working Capital and Bad Debts CREDIT
CONTROL MANAGEMENT a)
CREDIT POLICY -
Why
should all organizations have a credit policy? -
What
should a credit policy contain? b)
VETTING SYSTEMS - How to use bank references, trade references, and credit agency reports to vet potential customers c)
CREDIT TERMS
-
Offering
appropriate credit terms to different types of customer d)
COMMUNICATING WITH THE CUSTOMER
-
The
art of assertiveness
-
Telephone
skills
-
Overcoming
excuses
-
Effective
reminder letters e)
MANAGING THE SALES LEDGER
-
Keeping
good records
-
Using
the aged debt analysis
-
Developing
customer strategies f)
DEALING WITH BAD DEBTS
-
Taking
legal action
-
Tax
relief
-
GST
relief g)
CREDIT CONTROL QUESTIONNAIRE
-
Assess
the effectiveness of credit control procedures in your own organization h)
ART OF COLLECTING DEBTS THROUGH THE TELEPHONE
-
Impact
and Effectiveness of Telephone Collection 1.
Limitations of the method 2.
Laying the groundwork to make telephone collection effective 3.
Handling the problematic debtors 4.
Overcoming objections and excuses 5.
Telephone collection workshop 6.
The telephone call in relation to other collection instruments 7.
Special techniques During the course participants will be given exercises and case studies to sharpen and improve their financial skills and communications skills.
COURSE
TIMINGS 8.30am
- Registration on
Day One 9.00am
- Program Begins 10.30am
- Coffee Break (15
minutes) 12.30-1.30
pm- Lunch (provided) 3.00pm
- Coffee Break (15
minutes) 4.30pm
- Program Ends
YOUR EXPERT COURSE LEADER
Anthony
Wong
is a Certified Public Accountant of Singapore since 1984. He has worked in
senior management positions such as Deputy Managing Director, Finance
Director and Regional Financial Controller for Asia Pacific region with
Multi-national companies in Singapore particularly in the Electronics and
Manufacturing industries. He was the Regional Financial Controller
for Asia Pacific Region with Motorola in Singapore for eight years. Anthony
has extensive experience in Maximizing Shareholder Value, Streamlining
the business, Risk Management and Business start-ups. Being the best
in class in Financial Strategy, Investment Management, Treasury/Tax
Management, Financial Operations and Performance Management has given
him additional leverage in his career. He
is a Business & Career
Coach and he provides
business coaching to Business owners, Entrepreneurs, CEOs and Corporate
executives. Anthony
is also a Business and Financial Consultant to Small and Medium
Enterprises and has lectured on Finance and Accounting for Singapore
Accountants Academy, Nanyang Polytechnic, University of Southern
Queensland, Curtin University and La Trobe University He conducts workshops on finance, accounting and management accounting; and Letter of credit and credit management for MNCs such as SINGTEL and Nagase. He also conducts finance workshops in Malaysia for the Asia Pacific Institute for Management Development. Companies which have benefited from his workshops include MARA, SBB Mutual Berhad, National Insurance Company, International Islamic College, Hotel Armada, The Golf Club, Datai Bay, Goodyear Rubber Industries, TNT Malaysia, Exxon-Mobil Malaysia, Dunlop Malaysia, Bank Negara, The Central Bank of Philippines & Suruhanjaya Komunikasi & Multimedia Malaysia. Anthony
is a member of the Association of Chartered Certified Accountants
(U.K.) and holds a MBA from the distinguished Cranfield School of
Management, United Kingdom. He
also holds an Advanced Postgraduate Diploma in Management Consultancy from
the distinguished Henley Management College in United Kingdom.
He has a Diploma in Business Law from the National University of
Singapore COURSE FEES RM1,595 per person
TEAM DISCOUNT (For organisations sending 3 or more participants) RM1,395 per person
REGISTRATION DEADLINE 1 week before each scheduled date. |
|
1 North Bridge Road #18-06, Singapore 179094, Singapore 52-1, 1st Floor, Jalan Presiden F U1/F, Accentra Business
Park, Glenmarie, 40150 Shah Alam, Malaysia |
© APIMD 2008. All Rights Reserved.