Certified Credit Specialist

Certified Credit Specialist

Methodology

This training course focuses on theoretical and practical aspects of the subject, utilizing Excel software for credit account management. Additionally, role-playing methods and presentations are employed by participants.

Course Objectives

By the end of the course, participants will be able to:

• Develop effective credit policies that align with company objectives.
• Use financial and non-financial analysis to assist in credit decision-making.
• Identify the function and role of credit accounts in companies.
• Maintain an effective collection policy.
• Evaluate the credit account process and apply best practices.
• Apply tools and techniques for effective monitoring of credit accounts.

Target Audience

This training program is designed for credit account managers, credit managers, credit accountants, revenue accountants, credit and invoice staff, collection specialists, accounting professionals, finance professionals, operations professionals, and sales professionals dealing with credit accounts and credit management.

Program Content

• Credit Management Policies
• Responsibilities of Credit Management
• Factors influencing credit policies
• The five Cs of credit granting
• Non-financial factors affecting credit decisions
• Outlining credit policy:
  • Credit department message
  • Credit department objectives
  • Roles and responsibilities
  • Measuring results
• Reviewing new accounts
• Evaluating existing accounts
• Financial data: What to look for
• Financial ratio analysis
• Setting credit limits
• Establishing profitable customer relationships
• Responding to customer needs
• Invoicing process
• Efficiency in billing for faster collection
• Avoiding costly mistakes: Sending error-free invoices
• Utilizing technology
• Impact of pre-billing processes
• Best practices in invoicing
• Closing the sale: Time to collect your money
• Cash: It’s worth the effort
• Tips, techniques, and guiding principles for quick collection
• Importance of establishing a collection policy
• Utilizing different approaches in collection
• Strategies in conflict management
• Best practices in collection
• Relationship between sales and credit
• Overcoming obstacles
• Maintaining the relationship between credit and sales
• The role of sales in credit issuance and collection
• Analysis of the credit account process
• Improving the quality of credit accounts
• Building credit accounts and provisions for bad debts
• Methods of calculating bad debts
• Reducing bad debt write-offs
• Account turnover calculation
• Days sales outstanding calculation
• Calculating the optimal collection days
• Collection effectiveness index
• Analysis of operational and cash cycles
• Credit account management through portfolio strategy
• Analysis of portfolio volume, composition, and complexity
• Portfolio segmentation
• Developing an approach for specific segments
• Maintaining control
• Internal controls in credit account processes
• Credit accounts and monthly account closures
• Utilizing external sources for credit account functions.