Corporate Accounts Receivable Training Course

1. Working capital and cash management

• The role of accounts receivable in working capital management
• Strategies for optimizing cash flow
• Impact of accounts receivable on company liquidity

2. Understanding “the cost of credit”

• Components of credit costs
• How credit terms affect cash flow and profitability
• Balancing credit sales and cash sales

3. The ‘order to cash’ process

• Overview of the order to cash cycle
• Key stages and efficiency improvements
• Technology’s role in streamlining the process

4. Understanding “risk” in “credit”

• Assessing credit risk
• Tools for credit risk management
• Mitigating risk in accounts receivable

5. Accounts receivable and effective customer service

• The link between accounts receivable management and customer satisfaction
• Strategies for enhancing customer service through receivable processes
• Handling disputes and queries efficiently

6. Identifying under-performing areas to increase customer satisfaction

• Techniques for performance analysis
• Implementing improvements based on analysis
• Monitoring performance and customer feedback

1. Terms of trading

• Establishing effective trading terms
• Impact of trading terms on cash flow
• Legal considerations

2. Tools and techniques of financial analysis: ratios, trends, common size analysis

• Financial ratio analysis
• Trend analysis techniques
• Common size analysis for comparative assessment

3. What is the best performance measure – cash or profit?

• Analyzing cash vs. profit as performance metrics
• Balancing profitability with cash flow management

4. Financial distress and Altman’s Z score-type analyses

• Understanding Altman’s Z score
• Applying Altman’s Z score in credit risk assessment
• Preventing financial distress

5. Trend analysis

• Conducting trend analysis for accounts receivable
• Identifying patterns and predicting future trends
• Strategic decision making based on trend analysis

6. Value-added analysis of financial statement

• Principles of value-added financial analysis
• Analyzing financial statements for value addition

1. Identifying effective “pre-delinquency” collection campaigns

• Designing pre-delinquency notices
• Implementing early intervention strategies
• Utilizing technology for pre-delinquency campaigns

2. Defining “post-delinquency” activities

• Steps following delinquency
• Legal considerations and actions
• Post-delinquency communication strategies

3. Customer-sensitive collection strategies

• Developing tailored collection approaches
• Understanding customer situations
• Maintaining positive customer relations

4. Collection techniques and letter cycles

• Effective collection letters
• Designing a letter cycle for various stages of delinquency
• Legal and ethical considerations

5. Appropriate internal and external escalation steps

• Internal escalation procedures
• When and how to use external collection agencies
• Managing third-party collections

6. Using workflow management to maximize collector performance

• Workflow management tools and techniques
• Setting performance metrics for collection staff
• Leveraging technology for efficiency

1. Eliminating barriers to payment

• Identifying common payment barriers
• Solutions to overcome payment obstacles
• Implementing proactive measures

2. Recognizing excuses and delaying tactics

• Common excuses and how to respond
• Strategies to counter delaying tactics
• Role-play scenarios and solutions

3. Providing solutions to non-payment

• Negotiation strategies for non-payment issues
• Offering payment plans and alternatives
• Legal actions for non-payment

4. Telephone collection techniques

• Effective telephone communication skills
• Scripts for different stages of delinquency
• Handling difficult conversations

5. Negotiation skills for successful collections

• Principles of effective negotiation
• Negotiating settlements and payment terms
• Building rapport and trust

6. Building relationships with customers

• Importance of strong customer relationships
• Strategies for building and maintaining relationships
• Benefits of relationship building for accounts receivable

1. Developing effective internal relationships to maximize performance

• Interdepartmental collaboration
• Communication strategies for internal stakeholders
• Role of leadership in accounts receivable management

2. Setting targets and tracking performance

• Establishing realistic and achievable targets
• Performance monitoring tools and techniques
• Adjusting strategies based on performance data

3. Managing information that dazzles

• Effective data presentation for stakeholders
• Utilizing dashboards and reports

4. Defining meaningful KPIs

• Key performance indicators for accounts receivable
• Benchmarking and goal setting
• Using KPIs to drive improvement

5. Latest developments in accounts receivable

• Technological advances and their impact
• Emerging trends in credit management
• Future directions for accounts receivable