Revenue Collection

This GLOMACS Revenue Collection online training seminar provides delegates with the skills necessary to maximize their organization's cash collection effort.

Cash is the lifeblood of enterprise. Its sourcing and management comprise the single most important endeavour in business. Without it, nothing is possible. An enterprise's funding needs will be dictated by the nature of the business, its maturity, and the owners' / managers' aspirations for its growth.

By attending this online training seminar, delegates will understand:

• The role of effective Revenue Collection
• The importance of effective billing management processes and the impact of the new VAT legislation
• Key collection tools, tips, and techniques
• How to develop effective collection strategies?
• How to maximise revenue collection team performance?

At the end of this online training course, you will learn how to:

• Assess collection risk
• Make the most of the developments in Revenue Collections technology
• Maximise Collector effectiveness
• Develop customer-sensitive collection strategies
• Create action-oriented KPI’s (Key Performance Indicators)

This online training course will utilize various proven online learning techniques to ensure maximum understanding, comprehension, and retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice. 

The organisation will gain through the development and application of Revenue Collection management capabilities and skills; specifically, benefits will include:

• Improved awareness of key business performance measures
• Greater insights from global best practice
• Better integration of broader financial process, for example, credit risk assessment and management
• Raised levels of professionalism in the Revenue Collections team
• The improved human talent pool for internal succession planning
• More effective Revenue Collection and the potential to reduce operating costs and time in a key area for financial transaction processing

As a delegate, you will:

• Have a clear understanding of how to manage Revenue Collection
• Be pro-active in seeking and finding approaches to improve process and effectiveness within Revenue Collection
• Communicate the importance of enhancing the Revenue Collections process and its role in improving working capital management to colleagues
• Learn the latest developments in best practice in Revenue Collection

This GLOMACS online training seminar is suitable for a wide range of professionals employed in Revenue Collection, but it will be particularly beneficial to:

• Collections Team Leaders & Senior Supervisors
• Accounts Receivable and Credit Team
• Billing Team
• Accountants
• Financial Controllers
• Finance Professionals who wish to improve their understanding of this area

DAY 1

Credit Risk Assessment – Why is prevention better than cure?

• Credit Risk Assessment – tools, tips, and techniques
• Analysing Financial Statements to Determine Company Health
• Establishing Credit Limits
• Offsetting Credit Risk: Guarantees, Bonds, and Insurance Options
• Key Data Required for the Customer Master File
• Credit Worthiness as a Basis for Debtor Classification 

 DAY 2

Billing Process - Getting it the right first time 

• Billing Process Defined
• Authorisation Levels, Audit and Control Checks
• Billing Frequency and Reconciliations
• Accounting for VAT
• Using Technology to Leverage the Billing Process
• Benefits of an Integrated Billing / Accounts Receivable Solution 

DAY 3

Key Collection Tools and Techniques

• Eliminating Barriers to Payment
• Recognizing Excuses and Delaying Tactics
• Telephone Collection Techniques
• Developing Personal Assertiveness
• Negotiation Skills for Successful Collections
• Building Relationships with Customers 

DAY 4

Developing Effective Strategies to Maximise Cash Collection

• Identifying Effective “Pre-delinquency” Collection Campaigns
• Defining “Post-delinquency” Activities
• Customer Sensitive Collection Strategies
• Collection Techniques and Correspondence Cycles
• Using Work Flow Management to Maximize Collector Performance 

DAY 5

Managing Revenue Collections

• Setting Targets and Tracking Performance
• Creating Action-oriented Reports
• Measuring Team / Individual Performance
• The People Plan – Motivating the Team and Managing Performance
• Developing Your Personal Action Plan

• On successful completion of this online training course, GLOMACS E-Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor, will be awarded to the delegates
• Continuing Professional Education (CPE) credits : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance

In Association With

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.com