Simfotix
 

Credit Management & Collection Techniques

Overview

Collection function serves as spine to enterprise financial system. As per latest research, credit function’s effectiveness and efficiency is subservient to a trio called People-System-Leadership. This workshop provides a handful insight on designing a value based credit management system with zero tolerance to inefficiencies and lapses. Workshop focuses on two areas. Credit Management Process and Collection Techniques. Second area provides technical insight to collection team in designing and development of strategies that ensure enterprise spine intact and functional.

WHO SHOULD ATTEND

Credit & Collections executives need to be equipped with the latest strategies, processes and systems for them to execute and improve your business collections.

Heads, VP's, Directors, GM's, Managers and Administrators from
  • Finance
  • Credit Management
  • Operations
  • Credit Markets
  • Accounting
  • Debt Collection
  • Treasury
  • Risk Management
  • Collections
  • Accounts Receivable and Billing
From the following Industries:
  • Collections Banks
  • Collections Financial Institutions
  • Collections Telecommunications
  • Collections Retail
  • Collections Travel and Hospitality
  • Collections Service
  • Collections Pharmaceuticals
  • Collections Consumer Electronics
  • Collections FMCG
  • Collections Automobile
  • Collections Real Estate
  • Collections Utilities
  • Collections Insurance
For all Sales and Recovery staff
COURSE OBJECTIVES (Day One)
Strategy – Alignment - Transformation
  • Understanding Enterprise Credit Strategy
  • Credit Policy & Objectives
  • Alignment Vs Transformation
  • Enterprise Business & Growth Perception
  • Global Best Practices
  • Competitive Advantage – The X factor
  • Enterprise Focus Vs People Focus
  • Leadership Role
Case Study: Drawing & Driving Policy & Objectives.
Equating The Sides of Trio People-System-Leadership
  • Essential Skills Set for Credit Team
  • The Competency Framework & How it Works
  • Creation of Performance Culture & Collection Mindset
  • Performance Rules – The People Analytics
  • Collection Team Toolkit
  • Cultural Intervention – The Human Element
Exercise: Multilateral & Multitalented Team Development for Tricky Credit Management.
Equating The Sides of Trio People-System-Leadership
  • Policies, Procedures, Structure & KPIs
  • Finding Success Stealers - Interdepartmental Coordination
  • Know Your Customer – Know Your Business
  • Credit Approval Process
  • Finding the Trio Focus
  • Real Time Information System (RTIS) - Keep the Game On
  • Data Analytics – Understanding the Science of Business
Excel Based Exercise: Creating a Robust System
Equating The Sides of Trio People-System-Leadership
  • The Leadership Side of Story
  • Leadership Role & Impact on Credit Management Function
  • Delegation - Decision Model
  • Stress Testing & Tolerance Threshold
  • Critical Success Factors (CSF) & Key Performance Indicators (KPIs)
  • Cultural Intervention – Transferring Value Down the Line
Case Study: Identification of Pitfalls in Leadership & Value Engineering
COURSE OBJECTIVES (Day Two)
Collection – The Ground Rules
  • Know Your Customer – Know Your Business
  • Adherence to CSF & KPIs
  • Real Time Review & Information Sharing
  • Passing the Ball – Keep the Game On
  • Right Man for The Right Job
  • Procrastination – Death to Debt
  • Collect or Leave – No Yellow Cards Just Red
Board Game: Redefining Ground Rules for a Sinking Company
Collection – Managing Customer Psyche
  • Collection People – Living the Life of Numbers
  • Customer Stories – Life on the Other Side of Table
  • Carrot or Stick, It’s Customer’s Choice
  • Stress Testing – Exploiting Enterprise Tolerance Threshold
  • Collection Success – Let Relations Alive
Board Game: Handling The Psyche of Your Customer
Collection – The Toolkit
  • Work Smart Then Hard – The Analytic Revolution
  • Attention to Details – The Art of Sign Language
  • Right Time to Strike – Customer Cash Flow Cycle
  • Relationship Management – Avoid Poison Pills
  • The Right Approach I-N-T-E-R-A-C-T.
  • Board Game: Design Collection Plan based on INTERACT
    Collection – Monitoring; The Credit Life Blood
  • Trust the Science of Analytics
  • The Ideal Monitoring Trio People – System - Leadership
  • Radical Rethinking to Aging Analysis – Customer Based Aging
  • Development of Risk Relationship Model
  • Understanding the Risk Appetite & Tolerance Threshold
Board Game: Creating Aging Analysis Based on Variables & Subjective Analysis
Collection – Handling Difficult Customers
  • Defining Who is Difficult – Subjective VS Objective Evaluation
  • Avoiding Customer Traps
  • Trouble Shooting & Fire Fighting Techniques
  • Ethical Issue in Collection
  • Nip the Evil – Don’t Let it to be Chronic
Board Game: Counter Strike Your Enemy System or Customer

Testimonials