Classroom Sessions:
| Date | Venue | Fees | |
|---|---|---|---|
| 20 - 24 May 2024 | Dubai - UAE | $5,950 | |
| 29 Jul - 02 Aug 2024 | London - UK | $5,950 | |
| 16 - 20 Sep 2024 | Dubai - UAE | $5,950 |
Online Sessions:
| 16 - 20 Sep 2024 | Online | $3,950 |
INTRODUCTION
This GLOMACS Revenue Collection training courses provides delegates with the skills necessary to maximise the cash collection effort of their organization.
Cash is the lifeblood of enterprise. Its sourcing and management comprise the single most important endeavour in business. Without it nothing is possible. The funding needs of an enterprise will be dictated by the nature of the business, its maturity and the owners / managers aspirations for its growth.
By attending this GLOMACS training courses, 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
Objectives
At the end of this GLOMACS training course, you will learn how to:
- Assess collection risk
- Make the most of developments in Revenue Collections technology
- Maximise Collector effectiveness
- Develop customer-sensitive collection strategies
- Create action-oriented KPI’s (Key Performance Indicators)
Training Methodology
This GLOMACS Revenue Collection training courses will provide the theoretical background and techniques that underpin the organisation and management of Revenue Collection and its related functions. It will provide a real-world practical context by incorporating worked examples and case studies that delegates will see how theory applies in practice and can discuss the various issues raised.
Organisational Impact
The organisation will gain through the development and application of capabilities and skills in key area of Revenue Collection management; specifically benefits will include:
- Improved awareness of key business performance measures
- Greater insights from global best practice
- Better integration of wider financial process, for example credit risk assessment and management
- Raised levels of professionalism in the Revenue Collections team
- 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
Personal Impact
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 improving Revenue Collections process and its role in improving working capital management to colleagues
- Learn the latest developments in best practice in Revenue Collection
WHO SHOULD ATTEND?
This GLOMACS Revenue Collection training courses 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 prevention is 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 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 training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Endorsed Education Provider
GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org
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.
P. O. Box 74653
Dubai - UAE
Tel: +971 (04) 425 0700
Fax: +971 (04) 425 0701
Tax Registration Number: 100270246000003
