Financial Skills: Credit Control Workshop - Analysing and Using Credit Information

Course Overview

If you knew a customer had cash flow problems, would you give them 30 days credit? Get the skills to interpret vital credit information on your new and existing customers on this interactive and practical course.

Audience

This course is suitable for managers, supervisors and credit control staff.

Skills Gained

Participants leave the course able to:

• Draft a credit policy for their organisation
• Source and interpret credit agency reports
• Collect and analyse bank and trade references
• Set credit limits and terms for new and existing customers
• Use risk reduction techniques where appropriate
• Assess the effectiveness of credit vetting in their own organisation

Course materials include checklists, best practice tips, and credit control documentation for you to take back and use in your own organisation.

Course Outline

CREDIT POLICIES

• Why you need a credit policy
• What a credit policy should contain
• Example credit policies

CREDIT AGENCY REPORTS

• Major credit agencies and the reports they offer
• Interpreting credit agency reports
• Key financial ratios explained
• Danger signs and how to spot them

BANK AND TRADE REFERENCES

• How to obtain bank and trade references
• Bank references -interpreting the jargon
• Advantages and disadvantages of bank and trade references
• Data protection act implications

CREDIT LIMITS AND CREDIT TERMS

• How to set a credit limit
• How to choose the right credit terms for each customer
• Reservation of title clauses
• Risk reduction techniques -stakeholder accounts, third party guarantees, credit insurance, factoring

CREDIT CONTROL QUESTIONNAIRE

• Assess the effectiveness of credit vetting in your own organisation

Financial Skills: Credit Control Workshop - Analysing and Using Credit Information / CM030590