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Accounts Receivable - Planning, Organising and Achieving Best Practice
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Course Duration
5 Days
Course Details
Effective accounts receivable (AR) management is critical for maintaining healthy cash flow, minimizing financial risks, and ensuring business sustainability. The “Accounts Receivable – Planning, Organizing, and Achieving Best Practice” course is designed to equip finance professionals with the tools and techniques necessary to optimize AR processes. Over the span of five intensive days, participants will gain a deep understanding of credit policies, collections strategies, risk assessment, and performance monitoring. This course emphasizes best practices in AR management, leveraging technology, and improving customer relationships to enhance financial efficiency.
Through a combination of expert-led discussions, case studies, and hands-on exercises, participants will explore strategies to reduce bad debts, streamline collections, and implement proactive credit controls. The course will also cover key aspects of AR automation, dispute resolution, and regulatory compliance, helping businesses maximize receivables while minimizing risks. By the end of the program, attendees will be well-prepared to implement industry-leading AR strategies that improve liquidity, enhance profitability, and strengthen their organization’s financial position.
By the end of this five-day course, participants will be able to:
- Understand the Fundamentals of Accounts Receivable Management– Gain a comprehensive understanding of the role and importance of AR in financial management and business sustainability.
- Develop Effective Credit Policies and Risk Assessment Strategies– Learn how to design and implement credit approval processes, assess customer creditworthiness, and mitigate risks associated with receivables.
- Optimize Collections and Cash Flow Management– Implement best practices to improve collection efficiency, reduce overdue accounts, and enhance cash flow stability.
- Leverage Technology for AR Automation and Efficiency– Explore modern AR automation tools and software solutions to streamline invoicing, payment processing, and reconciliation.
- Implement Effective Dispute Resolution Techniques– Understand how to handle billing disputes professionally, maintain strong customer relationships, and minimize delayed payments.
- Monitor AR Performance and Key Financial Metrics– Learn how to track AR performance using key indicators such as Days Sales Outstanding (DSO), aging reports, and bad debt ratios.
- Ensure Compliance with Financial Regulations and Standards– Gain insights into legal and regulatory considerations in AR management, including contractual obligations and financial reporting requirements.
- Enhance Communication and Negotiation Skills– Develop professional communication strategies for engaging with customers, negotiating payment terms, and reducing receivables risk.
- Establish Internal Controls and Fraud Prevention Measures– Implement strong internal controls to prevent AR fraud, unauthorized transactions, and financial discrepancies.
- Develop an Action Plan for AR Best Practices– Create a strategic plan for continuous improvement in AR management tailored to organizational needs and industry standards.
This course will provide practical skills, real-world applications, and actionable strategies to help finance professionals improve accounts receivable efficiency, reduce financial risks, and enhance overall business performance.
The “Accounts Receivable – Planning, Organizing, and Achieving Best Practice” course is designed for professionals responsible for managing and optimizing accounts receivable processes. It is ideal for:
- Accounts Receivable (AR) Managers and Specialists– Professionals who handle invoicing, collections, and credit management, looking to improve efficiency and reduce outstanding debts.
- Finance and Accounting Professionals– Accountants, financial controllers, and finance officers who need a deeper understanding of AR best practices to enhance cash flow and financial stability.
- Credit Controllers and Credit Risk Analysts– Those involved in assessing customer creditworthiness, managing credit policies, and mitigating financial risks related to receivables.
- Treasury and Cash Flow Managers– Professionals responsible for maintaining liquidity, forecasting cash inflows, and ensuring smooth financial operations.
- Business Owners and Entrepreneurs– Small business owners and startup founders who want to establish strong AR management processes to maintain a healthy cash flow.
- Customer Service and Sales Professionals– Individuals involved in client interactions, negotiations, and payment follow-ups who need to understand AR policies and strategies for reducing disputes.
- Internal Auditors and Compliance Officers– Professionals who oversee financial controls, risk management, and compliance related to accounts receivable and credit policies.
- ERP and Financial Software Users– Those using accounting and finance systems such as SAP, Oracle, QuickBooks, or other AR management tools who want to maximize their efficiency and effectiveness.
This course is suitable for individuals at all levels, from entry-level finance staff to senior executives, who aim to enhance their knowledge of AR planning, organization, and best practices to strengthen their organization’s financial health.
Course Outline
5 days Course
Fundamentals of Accounts Receivable Management
- Introduction to accounts receivable and its role in financial management
- Key objectives of AR: Liquidity, profitability, and risk management
- Understanding the AR cycle: From invoicing to collections
- Key performance indicators (KPIs) for AR management
- Common AR challenges and their impact on cash flow
Credit Management and Risk Assessment
- Establishing effective credit policies and approval processes
- Evaluating customer creditworthiness using financial statements and credit scores
- Setting credit limits and payment terms to minimize risk
- Strategies for reducing bad debts and overdue accounts
- Managing credit risk in different industries and economic conditions
Collections Strategies and Best Practices
- Developing a structured collection process for efficiency
- Effective communication techniques for successful collections
- Handling late payments: Soft vs. hard collection approaches
- Legal considerations and debt recovery options
- Automation and technology for improving collections
Dispute Resolution, Internal Controls, and Fraud Prevention
- Identifying common causes of AR disputes and resolution strategies
- Implementing internal controls to prevent errors and fraud
- Enhancing customer relationships while maintaining strict AR policies
- Best practices for handling non-paying customers and legal enforcement
- Regulatory and compliance requirements in AR management
- AR Automation, Performance Monitoring, and Continuous Improvement
- Leveraging ERP systems, AI, and automation in AR management
- Tracking AR performance with financial ratios (e.g., DSO, aging reports)
- Strategies for optimizing AR workflows and reducing processing time
- Case studies: Successful AR transformations in different industries
- Action planning: Developing a customized AR improvement strategy
By the end of this course, participants will have a solid framework for AR management, along with practical tools and techniques to improve collections, mitigate credit risks, and implement best practices for long-term financial stability.
