Debt Collection Management

How to best manage a debtors book to maximize Working Capital

4.45 (63 reviews)

Udemy

platform

English

language

Accounting & Bookkeeping

What you will learn

How to best manage a debtors book to maximize Working Capital.

Why take this course?

This Debt Collection Management course will assist you or your staff to fully understand how to manage your Clients who owe you money, ensuring your business always has a positive cashflow.

The course is designed for Business Enterprises who offer their clients credit terms and need to learn how to best manage their debtor’s book to maximize Working Capital.

Running a successful business is never easy. Even when business is booming, businesses are faced with the unenviable task of chasing payment of outstanding invoices. For some, this can be a painful and gruelling task. On the flip side, the unfortunate reality is that some businesses struggle.

Businesses with effective debt recovery practices ensure an emphasis on setting out the rights and obligations of parties from the outset in any documented terms of trade, credit applications, or on invoices.

This makes the taking of recovery action at a later stage more straightforward, and ensures that the creditor business is in a strong position to demand payment.

Once recovery action is required, businesses ought to adopt set strategies which establish strict timeframes for recovering activities, including the issuing of demand letters, making of phone calls, and escalation of matters to legal proceedings or referral to a collection agency.

During this course, the following Topics are covered:

· The importance of Working Capital & Cashflow - When is a Sale really a paid Sale?

· The importance of Risk Assessment – How to choose clients

· The implementation of a Credit Policy - How to treat clients

· Communication styles to be used with Customers - How to communicate with clients

· Letters of Demand & Repayment plans - How should clients respond

· How to Measure the effectiveness of your Debt Collection – Are all possible steps being implemented to collect outstanding monies due to your business?

Reviews

Roberta

September 20, 2023

It has been very educational and informative, and has given me more entail on the importance of a Credit Policy which i need to work on and create for my business purposes. Also was reminded that Cash In The Bank Is Not Equal To Profit. This has given me alot to think about in to running my business.

Surita

July 26, 2023

The process and policies of debt collecting is very help full. If you do not understand the importance of risk assessment and that it can change from no risk to high risk you will not be able to effectively recover debt. Knowing how important it is for all departments to work together in our company makes a huge difference. As the person how works with the credit apps and the debt collector are not the same. The knowledge I obtained so far has given me a wider range of Debt collecting than what it was yesterday.

Vipin

February 19, 2023

The course was informative and covered most of the aspects of debt collection. More practical examples/experiences could have been mentioned. Occasionally the audio broke off, which was a discomfort. Overall this is a course that anyone who needs to have background knowledge of debt collection could take.

Jessia

June 2, 2022

This course has been very informative so far. The information gathered can be easily applied in the professional environment.

Francisco

April 22, 2022

I think it lacked a little more dynamism, although the information was excellent, it should be more dynamic since it was basically reading a powerpoint, the person should appear in the video or use other tools such as drawings, sounds, etc., but still way this comment is to give an opinion that can help make the classes even better!!! Overall I loved it and learned a lot!!! Thank you!!

March 27, 2022

I have been a debt collector for so long but I learned a lot from this course! There are funny moments and everything explained was interesting. There were just moments when the voice is not clear/nagloloko but otherwise everything was good. Thank you so much!!

Alain

February 17, 2022

Very basic information. It's a presenter sharing her webinar so not the most engaging performance but I still gained some insight to assist in my current role.