Level 4 Diploma Course in Credit Management
5 Days presented one day a week for 5 weeks.
No one can doubt the vital importance of a well trained, motivated, credit management team, totally focused on getting results. Our five day Diploma Course is geared to achieving precisely that.
With expert, enthusiastic presenters, high quality course notes, a supurb learning environment and the stimulus of a challenging, but rewarding exam, this course gives a thorough insight into all the practical issues relating to Credit Management.
Course Objectives
- Candidates will become fully aware of all aspects of Commercial Credit Management
- Practical tips & techniques you can put into effective use immediately
- Subjects will be fully studied for the exam at the end of the course
- Successful candidates will receive a Diploma - Pass, Merit or Distinction
- Level 4 Accredited Certificate from NCFE (National College of Further Education) and CPD Points with Certification
- Candidates who pass will get first year membership of the Association of Credit Professionals sponsored by CMT and designated letters, MACP (Diploma) to use after their name
Understanding Credit Management
Do you know how a business works and why businesses fail? Are you aware of the aims and importance of good credit management? Do you communicate effectively at all levels internally and externally? How well equipped are you to exceed targets?
- Cost of credit
- Impact of bad debts
- Stimulating cash flow
- Measuring and improving performance
- Setting targets
- Cash planning
- Query management
- Improving communication
- Developing a rapport with sales and others
- Credit management health-check
- Creating a winning environment
Managing Commercial Credit Risk
Can you maximise sales and effectively manage risk with your credit decisions? Do you consider whether you are one of many suppliers or one of the major suppliers to hyour customer when granting credit? Do you have effective ongoing risk assessment?
- The credit policy
- Being commercially minded
- Gathering the right information
- Understanding company accounts
- Working with a balance sheet
- The profit and loss account
- Scoring key ratios
- Setting credit limits
- Grading customers
- Determining low, medium and high risk
- On-going risk assessment
- Making credit decisions on new businesses
- Assessing different industries
- Why and how businesses fail
- Spotting warning signs
- Customer visits
Cash Collection By Phone
In the same way that sales people are in competition for orders, you are in competition for cash. Can you influence customers to pay you sooner?
- Strategies for successful collection
- Getting through and speaking to the right person
- Switching on to the person you are dealing with
- Different approaches for different customer types
- Influencing customers in different situations
- Asking questions differently to others telephoning for payment
- Using phrases and statements that get you on side
- Developing negotiation and persuasive skills
- Overcoming excuses, objections and reasons for non-payment
- Breaking negotiation deadlocks
- Taking away the reasons not to pay
- Using the consequences of non-payment to your advantage
- Making payment happen
- Following up effectively
Legal Actons and Insolvency
Very often you can make the legal system work for you without taking legal proceedings. Do you issue proceedings or do you use solicitors?
- Pre-action checks
- Letter before action
- Preparing your case
- Completing the claim form
- Debtors responses
- Entering judgment
- Enforcing judgment
- Dealing with defended actions
- The court tracking system
- Statutory demands
- Winding up petitions
- Different types of insolvency
Export Overview
Are you aware of the basic differences between home trade and export credit?
- Considerations for export credit
- Country and political risk
- Understanding key documents
- Letters of credit
- Forward exchange
Improving Collection Letters and Emails
If done correctly, the written word can grab attention and influence people to respond in the way you want. Can your letters and emails be more effective?
- Keeping it simple
- Influencing the reader
- Letters and Emails that work
Course Designed For
Anyone in the credit industry who wants to become more confident and knowledgable in their role.
Course Duration
1 Day a week for 5 weeks
