COURSE OVERVIEW

Effective management of accounts receivable enables organizations to gauge their performance relative to industry leaders and identify ways to elevate their services and operational processes. Strong control over receivables enhances cash flow, optimizes working capital, reduces debt and costs, and positions the business ahead of competitors.

LEARNING OBJECTIVES

By participating in this Best Practices in Managing & Organizing Accounts Receivable training, attendees will be able to:

• Master the fundamentals of accounts receivable management.
• Optimize cash flow and working capital to reduce costs.
• Improve accounting and working capital efficiency.
• Understand and apply accounts receivable systems effectively.
• Implement practical steps to minimize bad debts and uncollectible accounts.
• Review and improve collection methods and cash management practices.
• Incorporate risk and uncertainty considerations into receivables analysis.
• Identify and adopt industry best practices.

TARGET AUDIENCE

This training course is ideal for professionals across finance and accounting, including:

• Finance executives and professionals
• Accountants
• Accounts receivable managers and supervisors
• Accounts receivable staff
• Individuals involved in receivables processes or seeking a practical toolkit to enhance their professional and technical skills

TRAINING METHODOLOGY

This results-driven course is based on adult learning principles and combines:

• Engaging short lectures with dynamic presentations
• Video demonstrations to reinforce learning
• Interactive discussions and action planning
• Hands-on exercises and role-plays
• Ample Q&A sessions for clarification and application

Pre- and post-course assessments will evaluate participants’ skill development and the overall effectiveness of the training.

COURSE CONTENT

Module 1: Introduction to Accounts Receivable

Key Topics:

• Role of accounting in business
• Fundamental accounting equation
• Working capital and cash management
• Cost of credit and risk considerations
• Linking accounts receivable with customer service excellence
• Identifying areas for improvement to boost customer satisfaction

Module 2: Payment Methods and Strategies

Key Topics:

• Various payment types
• Handling challenging customers
• Developing a collection policy and professional mindset
• Essential qualities and responsibilities of a collector
• Designing and implementing an effective collection program

Module 3: Strategies to Maximize Cash Collection

Key Topics:

• Customer-sensitive collection approaches
• Collection techniques and letter cycles
• Internal and external escalation procedures
• Workflow management to enhance collector productivity
• Managing stress and pressure in collections
• Compliance and regulatory requirements
• Time management and prioritization
• Video demonstrations of effective and ineffective calls
• Role-playing complete collection scenarios

Module 4: Best Practices in Collection Tools and Techniques

Key Topics:

• Removing barriers to payment
• Using online payment portals
• Identifying excuses and payment delays
• Providing solutions for non-payment
• Telephone collection techniques
• Negotiation skills for successful collection
• Building and maintaining customer relationships

Module 5: Tracking Accounts Receivable KPIs

Key Topics:

• Strengthening internal collaboration to improve performance
• Setting and monitoring collection targets
• Evaluating collection effectiveness
• Defining meaningful KPIs
• Staying updated on the latest accounts receivable developments