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THE CREDIT CONTROL AND ACCOUNTS RECEIVABLE MANAGEMENT

Market economy is a credit economy. The capability of credit management has become indispensable for the survival and development of companies. The question is how to improve credit awareness and the level of credit management to collect money sooner and improve cash flow? How to maximize sales, expedite money-collection and minimize bad accounts?


Training Objectives

Establish risk awareness
Work out rational policies for credit sales, accurately estimate the risk of credit sales, and determine the rational amount for credit sales.
Master the specific methods and techniques for receivables management and debts-collection.
Use credit management instruments
Establish a corporate credit management system.

 

Training Attendees

Finance manager, credit manager, sales manager
Credit staff or accounting professionals
Calling-in staff, sales staff
Relative staff in charge of credit or receivables
 
 
       
Training Outline
 


The first step in credit management —— Establish an effective credit management system
 
  • The analysis of the current credit condition of the Chinese market
  •  
  • Popular credit management methods used globally
  •  
  • The effective “3+1+1” credit management system
  •  
  • The function and structure of a credit department
  •  
  • How to properly manage the relationship between the credit and sales departments
  •  
  • Establish an effective credit management system and procedure
  •   - Credit application
      - Consignment approval, process of stop cease delivery and resume delivery
      - Reasonable passing of risk
      - Periodical credit evaluation
      - Consummate a credit management system through process design
     
  • Credit management of program sales


  • Customer information management
     
  • Set up a normative customer file base
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  • Channel and method of customer information collection
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  • Methods for identifying customer risk
  •   - Principle of “5C”
      - Principle of “5W”
      - Principle of “CAMEL”
     
  • Updating customer information on time


  • Credit assessment method and rational credit policy
     
  • Three steps in establishing a credit assessment model
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  • How to design a credit scorecard and operation examples
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  • Calculate the line of credit based on customer’s credit scale
  •   - Method of sales forecasting
      - Method of net worth
      - Method of solvency
     
  • Design different credit policies for customers with different credit scales
  •  
  • Analysis of credit cost
  •  
  • Reevaluate the customer periodically and adjust the credit scale
  •  
  • Establish a credit policy that matches the firm’s target


  • Make use of risk management tools effectively
     
  • How to accurately define payment terms in the contract
  •  
  • Popular payment tools and corresponding risk control points
  •  
  • Payment terms and tools in common use
  •  
  • Methods to insure creditor’s rights
  •  
  • Effective process coordinated with proper tools


  • Account receivable management
     
  • Account receivable management system and procedure
  •   - Procedure of collection
      - Procedure for discovering and solving dispute
      - How to assess credit and sales staff – Internal motivation system
     
  • Is the size of account receivable reasonable?
  •  
  • Key index in account receivable management
  •  
  • System of bad debt reserve and write off


  • Collection skills
     
  • Identify the signal of default
  •  
  • Four major rules on collection
  •  
  • Rule of POWER
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  • Collection methods in different situations
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  • Other collection tools
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    Price
    Beijing
    3
    6800
    Guangzhou
    3
    6800
    Shanghai
    3
    6800
     
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