Module 1: Effective Collections Management
- The importance of collections management in organizations.
- Key elements of the collections process.
- The difference between effective and ineffective collections.
- The impact of collections management on the organization’s financial health.
- Credit and collection policies and procedures.
- Commonly adopted best practices.
- Assessment and follow-up tools.
Module 2: Collections Planning and Strategies
- Collections planning.
- How to develop comprehensive collections plans.
- Setting objectives and key performance indicators.
- Different collections strategies.
- How to select the most appropriate strategy.
- Planning tools using Power Pivot.
- Preparing planning schedules and monitoring progress.
- Workshop: Preparing a comprehensive plan to improve collections performance.
Module 3: Collections Follow-Up and Financial Data Analysis
- Collections follow-up.
- Effective follow-up techniques and tools.
- Using Excel to monitor collections activities.
- Financial data analysis.
- How to analyze overdue payments and outstanding receivables.
- Workshop: Analyzing real financial data.
Module 4: Collections Reporting and Performance Monitoring
- Preparing a collections report.
- Key components of a collections report.
- How to prepare collections reports.
- Organizing data and presenting findings clearly.
- Performance monitoring.
- Key performance indicators (KPIs) in collections management.
- Preparing performance monitoring templates.
- Analyzing performance and presenting improvement recommendations.
Module 5: Continuous Improvement and Final Evaluation
- Continuous improvement techniques.
- The importance of periodic updates to policies and procedures.
- Continuous training for the collections team.
- Training and professional development tools.
