Course Overview:
This course offered at IRES is designed to provide participants with the tools and knowledge required to efficiently manage accounts receivable (AR) and credit policies. Participants will learn key techniques to optimize cash flow, minimize bad debt, and establish effective credit management practices. This course covers the full AR cycle from invoicing to collections, credit risk assessment, and managing customer relationships. Additionally, participants will gain insight into creating and enforcing credit policies that align with organizational goals. The course is ideal for finance professionals seeking to improve credit risk management and optimize receivables collection processes.
Course Duration:
5 Days
Target Audience:
- Accounts receivable officers and clerks
- Credit managers and credit analysts
- Finance and accounting professionals
- Collection agents and debt recovery specialists
- Business owners and entrepreneurs managing credit and receivables
Personal Impact:
- Improve your ability to manage receivables and enhance cash flow.
- Gain practical skills in assessing credit risk and setting credit limits.
- Strengthen your understanding of debt recovery strategies and customer communication.
Organizational Impact:
- Enhance cash flow and working capital through better receivables management.
- Minimize bad debts and reduce days sales outstanding (DSO).
- Implement sound credit policies that support sales and protect against risk.
Course Level:
Course Objectives:
By the end of this course, participants will be able to:
- Manage the accounts receivable process from invoicing to collections.
- Assess and manage credit risks effectively through sound credit policies.
- Develop and implement credit terms that balance sales growth with risk management.
- Use collection strategies to minimize overdue payments and bad debts.
- Improve customer communication to enhance collections and maintain strong relationships.
Course Outline:
Module 1: Overview of Accounts Receivable and Credit Management
- Introduction to the accounts receivable process
- Understanding the relationship between AR, cash flow, and working capital
- Key roles and responsibilities in managing receivables and credit
- Practical Exercise: Mapping the AR and credit process for a typical organization
Module 2: Credit Risk Assessment and Policy Development
- Techniques for assessing customer creditworthiness
- Setting appropriate credit limits and terms based on risk assessment
- Developing and enforcing company credit policies
- Practical Exercise: Creating a credit policy for a business scenario
Module 3: Invoicing, Collections, and Dispute Resolution
- Best practices for invoicing and ensuring timely payments
- Collection strategies and techniques for overdue accounts
- Managing customer disputes and handling payment delays
- Case Study: Successful collections strategies for reducing overdue accounts
Module 4: Monitoring and Reporting on Receivables
- Monitoring accounts receivable balances and aging reports
- Calculating and managing days sales outstanding (DSO)
- Reporting AR performance to management and stakeholders
- Practical Exercise: Using AR reports to drive collections efforts
Module 5: Technology and Automation in AR and Credit Management
- Implementing ERP systems and AR automation tools
- Integrating AR management with credit policies and finance systems
- Benefits of electronic invoicing and automated reminders
- Real-life Project: Implementing an automated AR and credit management system
Related Courses
Course Administration Details:
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
- Email: [email protected]
- Phone: +254715 077 817
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
- Email: [email protected]
- Phone: +254715 077 817
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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