Introduction

Welcome to the Accounts Receivable Management and Development of Credit Policies course, where financial stability meets strategic growth. In today's dynamic business environment, effective management of accounts receivable and the development of robust credit policies are integral to sustaining cash flow, minimizing credit risks, and optimizing profitability. This course equips participants with essential skills and knowledge to navigate the complexities of credit management, ensuring organizations can mitigate risks while fostering growth opportunities.

Participants will delve into critical aspects of accounts receivable, learning to streamline processes, enhance collections, and develop tailored credit policies that align with organizational goals. Through practical insights and industry best practices, this course empowers finance professionals and business leaders to make informed decisions, leverage technology for efficient receivables management, and comply with legal frameworks.

Join us as we explore the foundations of effective credit management, delve into advanced strategies for risk assessment and mitigation, and discover how innovative approaches in data analytics can revolutionize credit decision-making. Whether you're aiming to enhance liquidity, improve customer relationships, or strengthen financial controls, this course provides the tools and expertise needed to thrive in today's competitive marketplace.

Objectives

1. Understand the fundamentals of accounts receivable management and credit policies.
2. Develop skills to evaluate and mitigate credit risks effectively.
3. Implement strategies to optimize cash flow through efficient receivables management.
4. Design and implement tailored credit policies aligned with organizational goals.
5. Enhance knowledge of legal and regulatory frameworks impacting credit and collections.
6. Utilize technology and data analytics to enhance credit decision-making processes.
7. Improve customer relationships through effective credit management practices.
8. Strengthen internal controls and procedures related to accounts receivable.
9. Foster collaboration between finance, sales, and operations departments.
10. Obtain a certificate demonstrating proficiency in AR management and credit policy development.

Organization Benefits

1. Improved liquidity and cash flow management.
2. Reduced bad debts and credit losses.
3. Enhanced profitability through optimized credit terms and policies.
4. Strengthened compliance with legal and regulatory requirements.
5. Enhanced forecasting accuracy and financial planning capabilities.
6. Improved customer satisfaction and retention.
7. Streamlined processes and reduced administrative costs.
8. Enhanced decision-making through data-driven insights.
9. Increased stakeholder confidence and trust.
10. Improved competitive advantage in the marketplace.

Target Participants

Professionals involved in finance, credit management, and operations, including:

• Finance Managers
• Credit Controllers
• Accounts Receivable Specialists
• Risk Managers
• Financial Analysts
• Business Owners
• Entrepreneurs
• Small Business Managers

Course Outline

Module 1: Fundamentals of Accounts Receivable Management

1. Overview of accounts receivable and its importance in financial management
2. Key metrics and benchmarks in AR management
3. Case study: Implementing efficient AR processes in a multinational corporation

Module 2: Credit Risk Assessment and Mitigation Strategies

4. Principles of credit risk assessment and creditworthiness evaluation
5. Techniques for assessing credit risk: Quantitative and qualitative approaches
6. Case study: Developing risk scoring models for credit evaluation

Module 3: Developing Effective Credit Policies

7. Components of a robust credit policy framework
8. Designing credit terms and conditions tailored to organizational needs
9. Case study: Implementing credit policy changes

Module 4: Legal and Regulatory Aspects of Credit Management

10. Overview of legal frameworks impacting credit management
11. Compliance considerations and regulatory requirements
12. Case study: Handling legal challenges in credit collections

Module 5: Technology and Data Analytics in Credit Management

13. Role of technology in enhancing credit decision-making processes
14. Utilizing data analytics for predictive modeling and risk assessment
15. Case study: Implementing AI-driven credit scoring systems

General Information

1. Customized Training: All our courses can be tailored to meet the specific needs of participants.
2. Language Proficiency: Participants should have a good command of the English language.
3. Comprehensive Learning: Our training includes well-structured presentations, practical exercises, web-based tutorials, and collaborative group work. Our facilitators are seasoned experts with over a decade of experience.
4. Certification: Upon successful completion of training, participants will receive a certificate from Foscore Development Center (FDC-K).
5. Training Locations: Training sessions are conducted at Foscore Development Center (FDC-K) centers. We also offer options for in-house and online training, customized to the client's schedule.
6. Flexible Duration: Course durations are adaptable, and content can be adjusted to fit the required number of days.
7. Onsite Training Inclusions: The course fee for onsite training covers facilitation, training materials, two coffee breaks, a buffet lunch, and a Certificate of Successful Completion. Participants are responsible for their travel expenses, airport transfers, visa applications, dinners, health/accident insurance, and personal expenses.
8. Additional Services: Accommodation, pickup services, freight booking, and visa processing arrangements are available upon request at discounted rates.
9. Equipment: Tablets and laptops can be provided to participants at an additional cost.
10. Post-Training Support: We offer one year of free consultation and coaching after the course.
11. Group Discounts: Register as a group of more than two and enjoy a discount ranging from 10% to 50%.
12. Payment Terms: Payment should be made before the commencement of the training or as mutually agreed upon, to the Foscore Development Center account. This ensures better preparation for your training.
13. Contact Us: For any inquiries, please reach out to us at training@fdc-k.org or call us at +254712260031.
14. Website: Visit our website at www.fdc-k.org for more information.