This training programme provides participants with all the tools necessary to ensure that they can reduce their creditors payment cycle as much as possible and get paid promptly.

Any businesses who have creditors and need to reduce the payment cycle for funds to flow more freely throughout their business.

Participants will understand the stages at which they can monitor to maintain a healthy cashflow in their business from credit policies, credit checks, calculating debtor days, records and much more.

Online Delivery via Zoom.

This programme is delivered over 2 x 90 minute sessions with a short break in between.

The Foundation Stones

• Give Credit with Care. Have a Credit Policy with Clear Terms & Conditions.
• Undertake Credit Checks.
• Understand your customer’s T&Cs and get PO Numbers if required.
• Ensure that EVERYTHING is Invoiced and Invoice promptly.
• Debtor Days Calculation and keep up-to-date Records.
• Review Debtors List at least every month.
• Keep a record of customers’ Track Record for Payment.
• Additional charges for late payment

Collecting your Money !

• ‘Act early & often’ / Reminder emails, letters & calls / Attitude & Disposition / ‘Reading the circumstances’.
• Understand the critical elements of conversations and ‘tools of collection’
• Obtain payment of undisputed amounts.
• Personal visits and Sales people involvement
• The cost, time and other impact of disputed debt collection
• Resolve disputes / Arbitration / Assessment by industry expert
• Settlement / Agreement for Payment
• Cut off point decision / Lost relationship Rules for Additional Action:

– Recovery of goods

– Damage limitation

– Debt collection agents

– Legal Action

Review Summary and Action Plan