Effective Credit Controller
26 February - 01 March 2024
Sandton Johannesburg South Africa
Register Now! Limited Seats Available!
R16, 999.00 Per Delegate
Credit Control is the system used by a business to make certain that it gives credit only to customers who are able to pay, and that customers pay on time. It is a critical part of a well-managed business that will help reduce bad debts and improve the cash flow in your business.
This five- days Effective Credit Control training course teaches effective chase techniques, how to tackle common excuses for non-payment, and how third parties and the court can help you reclaim debts. It also explains your legal rights regarding charging interest on overdue accounts and what type of relief you can claim if you’re left with bad debts. With this knowledge, you’ll be able to offer credit to customers with as low a risk as possible and chase overdue payments effectively.
The course provides an in-depth insight to the Credit Control function. It will provide delegates with a thorough grounding in Credit Control covering a variety of areas including performance measurement techniques, collecting difficult debts and taking legal action.
By the end of this Effective Credit Control training course, learners will:
- Understand why controlling credit is important and what skills they need to be a good credit controller.
- Know how to offer credit to customers in a low risk way, i.e. by using credit application forms and carrying out credit checks.
- Recognise their right to charge interest and other costs under the Late Payment of Commercial Debts (Interest) Act.
- Learn techniques that enable them to effectively chase payment via phone calls and letters.
- Know how to address common excuses for non-payment.
- Understand how third parties (including debt collection agencies and solicitors) and the court can help chase payment.
- Recognise what further steps they can take if the debtor will still not pay, including sending statutory demands.
- Know what type of relief they can claim back if they are left with bad debts.
Who Should Attend
Effective Credit Control training course, is ideal for:
- Anyone who handles a business’s finances and manages customer accounts should learn how to effectively control credit. If you’re planning to become a dedicated credit controller who chases payments, this course will be especially beneficial. No previous knowledge is required so anyone at any level of a business can take the course.
- Those who want to gain an understanding of the principles and practice of controlling credit & managing debt.
- People in an administrative, business or finance role which includes responsibilities for managing and credit accounts, and ensuring that debt is managed promptly and efficiently.
- What is credit control and why do businesses need it?
- A sale is only a sale once payment is made
- Credit risks
- Credit checks
- Controlling credit
Debt collection and recovery
- Standard collection procedures
- Common excuses
- Civil litigation court action
- Court enforcement
- Publication of a judgment
- Statutory demand / liquidation
- Commercial mediation
- Private debt collection agencies
- Invoice discounting
- Using the telephone
- Making calls
- Specific telephone communication skills (language, vocalisation, listening, empathy and questioning)
- Managing conflict
- Written communication
- Sample letters
Third Party Collectors and Legal Action
- Debt collection agencies and solicitors
- Legal action
- Letter before action
- Submitting claims to court
- Preparing for a court hearing
- Further court action
Statutory Demands and Other Actions
- Statutory demands
- Bankruptcy and winding up
- Voluntary arrangements
- Administration orders
- VAT and tax relief
- Default accounts
End of the workshop
IN HOUSE AND ONLINE TRAINING
While both In-House and Online training can present with cost-effectiveness and time-efficacy, there are some very specific differences between in-house courses and those based online.
The demand for additional courses by individuals or groups of people is increasing. Still, it depends entirely on the preferences of a person what type of training he or she wants to receive. Online courses and in-house training carry some similarities but they are considered to exhibit some very pivotal differences too. Despite that, both types of learning can be really beneficial for attendees.