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Webinar on Collect and Prevent Overdue Outstanding Collections |
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On 30th January 2024 11:00 am to 04:30 pm By Mr. Nayan M Ex. Financial Controller - DHL & Pizza Hut & Sr. Management Consultant |
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Timely Collection of Receivables is the key to Success at the Time COVID 19 Introduction Liquidity plays very important role in the success of any business Organisation. Timely collection of Accounts Receivables is one the major area in improvement of Liquidity. Moreover, further collection of Accounts Receivables helps to reduce the Working Capital Requirement and to reduce interest payment. Today is a turbulent time for business and the economy is in a heightened state of flux. Reaching Business Targets is difficult. Credit thus plays its part in achieving higher sales and expanding markets. Unfortunately, poor credit management can kill a business. Assessing business risk and prospects, deciding a credit limit and credit period are backbone of credit management. These areas are least understood or controlled by most organisations Contents ü Building a Credit Policy Ø Fundamentals of Good Credit Management Ø Principle of Offering Credit, Terms of Payment Ø Collection Policies and Practices Ø Building Credit Policy based on Needs of Market Ø Credit Worthiness – Developing simple method ü Few Mechanics Ø Cost involved in giving Credit · Utilising to decide the period of credit · Whether to accept earlier payment than the agreed terms by giving discount. Ø Calculating Ageing of Receivables and Average Collection Period and use of it to collect the receivables according to the Credit Policy ü Role of Accounts and Marketing Department in collecting the receivables. ü Utilisation of various methods such informing the Debtor few days before the due date automatically by using Information Technology, Tele Calling, Collection Letters, and Personal Visit etc. to collect the receivables in time ü Role of Top Management or Owner of the Organisation ü Role of CASH Management Service provided by Banks – Cost & Benefits Analysis ü Availing of Credit Limit against Receivables from Bank ü Availing Bill Purchase Limit from the Bank ü Collecting Cheques from the Customers – Advantages and Dis-advantages. ü Problem Accounts and Legal Action including Action in the case of Cheque ü Taking Advantage MSME Act provisions to collect the dues in time ü Return under Section 138 of the Negotiable Instruments Act. |
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Profile of Faculty Mr. Nayan M - Ex. Financial Controller - DHL & Pizza Hut & Sr. Management Consultant Mr. Nayan is a Finance Professional cum Entrepreneur with over 30 years’ experience in various Senior Roles in large MNC’s such as DHL Express, Pizza Hut and Elf Group. Mr. Nayan works in the field of Corporate Trainings and provide training such as Finance for Non-Finance, Leadership, Communication, Presentation and Negotiation. He leverages his vast experience in Finance, Communication, knowledge of cultures, and Entrepreneurial Skills to help Executives achieve their professional and personal goals. Mr Nayan is also an Angel Investor and Mentors Startups in the Areas of Financial Reporting and Fund Raising. Mr. Nayan’s few Key achievements are acquisition of the DHL Express Business in Pakistan and Bangladesh, Establishment of the “Pizza Hut” Brand in Mumbai as Financial Controller, from scratch – Including sourcing of Kitchen Equipment, lease of property, Construction of new restaurants, Successful Management of 2 IPO’s for an Indo-Swiss Packaging Company, He is Empanelled with the Institute of Chartered Accountants of India (ICAI), and the WIRC to train CA students. |
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Pre-requisites You should have good internet connection and good quality headphone/speaker set with Laptop / Desktop. You should have notepad/pen to note down important points. |
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How To Register
18% GST is applicable > Mode of Payment: NEFT /Paytm / Credit Card/ GPAY > Fees include certificate of participation & Course Material. *Terms & Conditions apply
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