A great day where we were given new ideas


Credit Control Training? But I’ve been doing the job for years!

As had the delegate who entered the above comment on an evaluation form at the end of a recent training programme.

Sometimes that can be a problem where a team has come together and achieved consistent success and, as a result, has then become complacent or even a bit stale. This is when bad habits could start to form. In this regard, a course, tailored as part refresher and part reinforcing the good habits, can really act as a good motivator for teams in this type of situation.

Through our delivery of training courses, we have worked with a cross-section of industries ranging from insurance companies to manufacturers and shared service centres and all the while we have met some terrific people and helped them hone their skills.

The consistent theme we have seen across credit departments is that there is a mixture of new and experienced staff. However, this does not mean that only the new staff should be trained; the opportunity should be spread across the whole function.

The training is very interactive and, through sharing of knowledge and experiences, we can often come up with ideas for improving ‘bottlenecks’, procedures and handling awkward customers. This is where the whole team needs to be involved.

A trained credit control team can make good, judgmental decisions based on the benefit of a company’s finances. You will be relying on customers paying you on time and this will rely on you having a finely tuned credit department who can manage this area.

From a recently published FSB study, it has emerged that 43% of respondents experienced late payments during 2018 and, of these, 78% of had to wait more than a month beyond their agreed terms before they were paid.

More research in 2019 by Intuit QuickBooks found that UK small businesses have on average £31,055 in debts owed to them. Collectively the issue of late payment costs British small businesses around £2.5 billion a year.

This is a staggering amount which has a significant impact on the cash flow for many SMEs. This, as we know, is the major contributory factor to businesses subsequently failing.

Credit control training will not wipe out this problem; but it will go a long way to addressing the point that many suppliers find it difficult to ask for payment because they fear it will upset the relationship with the customer.

However, the longer the invoice is unpaid the more difficult it will be to collect.

Training builds professionalism and expertise, improves motivation and morale and can increase efficiencies and innovation.

For your business, this leads to customer satisfaction, it enhances your ability to attract and retain staff and, best of all, increases revenue and profits.

Of course, there are benefits to those who attend the training as well.

  • Their skills and knowledge are improved as well as their awareness of new developments.
  • The employee will be happier in their role, knowing you have invested in their development.
  • Their self-confidence will increase which will enable them to communicate better in the business environment and improve customer service.

On this basis, credit control training is win; win all the way!

This is where we can help!

Please see our training section and the Mix and match of training available, or contact us to discuss your requirements.