– – Maximize Debts Collection When Debtors are Well Managed

Date: 16 May 2024

Fees: RM690.00 nett

Remote Online Training (Microsoft Teams)

Maximize Debts Collection When Debtors are Well Managed

INTRODUCTION

Many companies understand that Cash Flow is essential for corporate survival. However, many SME still trapped in the tight cash flow position when the bad times comes, especially difficulties in collection.

OBJECTIVE:

  • To plan and work on better debtors management to avoid difficulty in collection during bad times
  • Identify ways for debtors management
  • How importance is company’s branding and competitiveness affect collection
  • Understanding legal, accounting and taxation treatment

HOW WILL YOU BENEFIT:

At the end of this training session, participants will learn the following:

  • Being able to evaluate your client’s credit position and secure your organization
  • Understanding credit evaluation and risk assessment technics
  • Learning effective collection techniques to maximize your debt recovery
  • Importance of credit policies and effective credit controls
  • Understanding legal action against debtors and enforcing judgment

METHODOLOGY:

Lecture, power point presentation, discussions, questions & answers session

WHO SHOULD ATTEND:

  • Business Owners, Directors, General Managers
  • Marketing and Sales Personnel,
  • Financial Controllers, Finance Managers, Accountants & Accounts Executives
  • HR Managers, Operation Managers

Suitable for the following Industries : Manufacturing, Services, Retail, Trading, Processing, Construction, Logistic and Transportation, Information Technologies, Hospitality and International Businesses.

Course Outline

  • Module 1: Understanding of Business Process
    • Vision and mission
    • Working capital, planning, purchase, production, sale and collection
    • Profit vs cash flow
  • Module 2: Business Model
    • Business positioning
    • General vs focus
    • Importance of business branding
  • Module 3: Customers payment pattern
    • Customers payment history/ habits
    • Company’s prompt payment policy
    • Cease delivery/ performance of services
    • Stern actions taken on collection
  • Module 4: Satisfactory products and services
    • What are the customers needs
    • Satisfaction of customers needs
    • Level of awareness and education
  • Module 5: Business Collection skills and strategies
    • Method available for collections
    • Ad hoc seasonal discount
    • Customers are not always right
    • Single customer limit
  • Module 6: Collection Tools
    • In house collection personnel
    • Outsource to debt factoring agents
    • Electronic mediums
    • Customers’ common delaying tactics
  • Module 7: Reference and Symptoms
    • CTOS and CRIS
    • Industrial and local community references
    • Casino
    • Banking facilities vs cash based
    • Under ground economy
    • Symptoms of debtors running away
  • Module 8: The Crucial 6%
    • Develop a practical credit collection plan which suits the company’s industry
    • Analyse the strength and shortfall of the existing credit department system and structure
  • Module 9: Double A
    • Action
    • Attitude
  • Module 10: Legal Proceedings
    • Legal actions against debtors
    • Enforcing judgment
  • Module 11: Accounting and Taxation
    • Accounting, Income tax and SST treatment on bad debts
    • The crucial 10% and 6% SST
  • Module 12: Employees Commitment
    • How to motivate and increase employees commitment  and initiative?

Trainer’s Profile

Wong Yew Fei, Derek Senior Trainer and Consultant of KAC Advisory Services PLT. Derek is an Executive Partner of an accounting and SST advisory  firm, and has over 25 years experience in accounting and finance. He is an accountant and SST advisor to established MNCs, Oil & Gas-related companies, and manufacturing companies. He started his career at a mid-sized audit firm before moving to a Big Four audit firm. Thereafter, he was with SMEs and a public listed company and held a senior financial position at an established large corporation. He has extensive experience in preparing and reviewing management reports, budgets, forecasts and cash flow management, fund raising activities, IPOs, back door listing and other corporate exercises.

A HRDF-certified trainer, he is sought-after for his trainings on SST and effective debtors management subjects. He has vast practical experience in detecting customers with financial difficulties and initiating prevention actions to reduce chances of doubtful debts. He is a member of MIA and holds the ACCA and AAT qualifications.