Credit Control (VIRTUAL)

Learning Outcomes

• The knowledge and confidence to make a positive difference in your business, to maximise the profits generated.
• A clear action plan to tackle your existing balances, irrespective of age and to deal with new business.
• You will receive a number of valuable tools, calculators and meaningful KPI’s to measure your success.

Course Content

This one-day training course is designed for Owners, Credit Controllers or Managers of Hardware Retail Stores & Builders Merchants who are responsible for the collection of the money due from both companies and individuals.

Course Content:

• Your Credit Policy – just a simple document to set out the rules is all that is needed here, that sets out your approach to risk, especially high risk potentially profitable accounts.
• Your Credit Terms – are they clear? are they communicated? are they enforceable and are they enforced?
• Setting lines of credit for your new and existing customers.
• Opening new accounts – the do’s and the don’ts.
• Managing your ledger – making sure every balance has a method of collection assigned to it.
• Correct approach for collection calls –
  • Different for companies and individuals
  • Applying the correct method of collection – including letters, calls, texts, visits etc.
• Cash Control – a fool proof system to account for every cent.
• Cash Flow Forecasting – it is easier than you think when you have all the information in place.
• Understanding and Mitigating Risk – the ten things you can do right now.
• Dealing with disputes and queries – and putting procedures in place to eliminate them.
• What to do when it all seems to be going wrong – the last thing on the list is legal action that can be time consuming, expensive and ineffective

Who Should Attend

This course is essential for Hardware/DIY retailers/builders merchant business owners who are looking to improve and optimise their credit control.