Cash Flow is the life-blood of any business and mounting Receivables will virtually sound the death knell for struggling organizations. Many organizations land in trouble by concentrating on increasing their sales will paying less attention to the ballooning receivables. Uncollected Receivables are direct losses and can cause severe cash flow emergencies. Poor Accounting Policies, lack of Credit Control measures, relaxed payment terms/modes, weak collection methods and follow-up, lack of communication skills are some of the common reasons which impact collections and cause high Receivable balances.
This two-day program will help you to understand the significance of collecting AR on time, the techniques and strategies required to revamp the entire collection approaches and to protect yourself from the risks of uncollected debts
What Will Students Learn?
- Importance of collecting receivables on time
- Know what impedes collections
- Understand the risks associated with delayed collections
- Strategies and techniques to improve collections
- How to contribute to better working capital management
- Importance of sound financial policies
- How to follow up collections from the Customers
- Control operating costs and risks of bad debts
What Topics are Covered?
- Understanding Accounts Receivables
- Credit Control Policies and Procedures
- Terms of Trade/Payments
- Accounting practices
- Collection Methods and problems faced
- Customer Relations and Communications
- Using 3rd Party Collection Agencies
- Re-skilling and training of Employees