Introduction
Effective credit control and debt management are vital to the financial health and sustainability of any organization. In an increasingly competitive business environment, extending credit can be a powerful tool for growing sales and building customer loyalty. However, without robust credit control measures, organizations risk facing delayed payments, bad debts, and severe cash flow challenges.
This five-day intensive course provides participants with practical tools, strategies, and techniques to manage credit effectively, minimize bad debts, and ensure healthy cash flow. The program covers the full spectrum of credit management — from assessing customer creditworthiness to implementing proactive collection strategies and resolving payment disputes.
Through a combination of theory, real-life case studies, role plays, and interactive exercises, participants will learn how to balance the need to extend credit with the imperative to maintain strong financial control. They will also gain skills in negotiating payment plans, using credit policies effectively, and handling debt recovery in compliance with legal and ethical standards.
Participants who successfully complete the course will receive Certificate of Participation.
Course Objectives
By the end of this training, participants will be able to:
- Develop and implement effective credit control policies.
- Assess customer creditworthiness and set appropriate credit limits.
- Apply best practices in accounts receivable management.
- Use debt collection techniques to recover overdue accounts.
- Negotiate payment arrangements effectively.
- Reduce bad debt risk while maintaining positive customer relationships.
Duration
5 Days
Who should Attend
- Credit Controllers and Accounts Receivable Officers
- Finance Managers and Accountants
- Debt Recovery Officers
- SME Owners and Entrepreneurs
- Customer Relationship Managers
- Risk and Compliance Officers
Course Outline
Day 1: Introduction to Credit Control
- Overview of credit control and its importance
- The relationship between sales, credit, and cash flow
- Understanding the credit cycle
- Components of an effective credit policy
- Establishing credit terms and conditions
- Aligning credit control with corporate strategy
Day 2: Assessing Creditworthiness
- Credit assessment tools and techniques
- Reviewing customer financial statements
- Understanding credit ratings and scoring
- External credit information sources
- Setting and reviewing credit limits
- Case study: Evaluating a new customer for credit approval
Day 3: Accounts Receivable and Collection Strategies
- Best practices for accounts receivable management
- Monitoring aging reports and overdue accounts
- Early intervention strategies for overdue debts
- Communication techniques for collections
- Using technology and automation in credit control
- Workshop: Drafting an accounts receivable follow-up schedule
Day 4: Debt Recovery and Dispute Resolution
- Stages of debt recovery (friendly, formal, legal)
- Negotiating payment plans with debtors
- Handling disputes and complaints professionally
- Working with collection agencies and legal teams
- Ethical and legal considerations in debt collection
- Role-play: Negotiating repayment with a challenging customer
Day 5: Risk Reduction and Continuous Improvement
- Identifying high-risk customers and sectors
- Implementing proactive credit risk management
- Credit insurance and factoring options
- KPIs for measuring credit control performance
- Continuous improvement strategies for debt management
- Group project: Designing a credit control and debt recovery plan
- Final presentations and course wrap-up
General Notes
- The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.
- The participants should be reasonably proficient in English as all facilitation and course materials will be offered in English.
- Upon successful completion of this training, participants will be issued with a certificate.
- The training will be held at Kincaid Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.
- All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.
- Accommodation and airport pickup are arranged upon request. For reservations contact the Training coordinator at Email: training@kincaiddevelopmentcenter.org or Tel: +254 724592901
- This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our Kincaid Training Centre or at a convenient location.
For further inquiries, please contact us on Tel: +254 724592901 or send mail to training@kincaiddevelopmentcenter.org
Payments are due upon registration. Payment should be sent to our Bank account before commencement of training and proof of payment sent to training@kincaiddevelopmentcenter.org