Best Practice on Purchasing, Accounts Receivable and Debt Collection Management

Best Practice on Purchasing, Accounts Receivable and Debt Collection Management


Date : 27 - 28 May 2021
Time : 09:00 am - 05:00 pm
Venue : The Pearl Hotel, Kuala Lumpur


Introduction

We are aware that cost down pressures from the business is forcing you to operate leaner and do more with less. The pressure is squarely on your shoulders in ensuring your organisation not only receives its outstanding monies but also on time. This programme will help you improve your negotiating skills, develop hardship programs, understand how to deal with difficult customers and most important comply with legislation.

 

 

Objective 

  • Bring your financial departments capabilities to a higher level
  • Implement best practice collection processes
  • Develop more diligent credit check programs
  • Streamline your business to identify key areas for improvement
  • Reduce Days Sales Outstanding cycle
  • Innovative ideas on collecting outstanding monies
  • Simplify your bills to ensure payment is made on time
  • Change the mindset of your department going from calm credit climate to harsh credit climate
  • Identify customers paying capacity when entering the initial service
  • Use technology to make your bills more accurate and ensure quicker payment
  • Network with like minded individuals….

 

 

Methodology

Power-point presentation, interactive lectures, group discussions and activities

 

 

Who should attend?

  • Credit Controllers, Managers & Supervisors
  • Accounts Receivable Officers, Supervisors & Clerks
  • Anyone with accounts receivable and credit collection responsibility
  • Debt Managers
  • Accounting Officers
  • Financial Administrators
Module Topic
DAY 1  
Module 1

Identifying How to Streamline Your Business to Be Capable of Continual Improvement And Enhancement of Monitoring And Limiting Risks

  •  Making your business more cost effective by focusing on value-adding procedures that can be implemented
  • Outlining what processes to automate to improve efficiency
  • Risk management processes and tools
Module 2

Implementing A More Stringent Credit Assessment Program to Increase Early Detection of Challenging Customers

  • Identifying customers paying capacity when entering into agreement
  • Monitoring the account and intervening early if account is not paid
  • Predicting when a good customer will turn into a bad debt
  • Assisting customers with payment plans to ensure payments are made
Module 3

Ensuring Financial Viability Through Sustainable Cash Flow Management

  • Identifying your customers payment cycles to ensure invoices are paid on time
  • Constructing a production schedule to identify roles and activities of billing departments
Module 4

Maintaining Strong Relationships with Your Customers Whilst Driving the Business Forward

  • Getting the commercial balance right by maintaining a firm but fair relationship with your customers
  • Engaging with your clients through effective communication and educating them on your processes
  • Establishing and communicating expectations you require from your clients
  • Working with the customer to improve the management of their bills and finances
  • Educating staff of the entire billing procedure to minimise variations in the problem areas
DAY 2

 

Module 6

Raising Awareness of the Legal Requirements That Affect Risk Management and Impact Your Collection Processes

  • Highlighting changes in the law regarding non-payment
  • Outlining how to comply with the Privacy Act, while still enforcing the collections
  • Conducting a risk assessment of taking legal action and the consequences
  • Emphasising the rights and authority the collections department has over its customers
Module 7

Implementing Procedures and Guidelines to Ensure the Billing Process Is Correct and Effective

  • Auditing current processes to highlight areas for improvement
  • Simplifying your bills to ensure bill is understood and payment is made on time
  • Improving communication channels between sales and customer service departments
  • Communicating with your debtors to ensure the purchase order is correct before it goes to invoicing
  • Implementing procedures to ensure purchase orders are never lost in the system
Module 8

Bringing Your Financial Department Capabilities to A Higher Level To Cope With Difficult Customers

  • Up-skilling existing staff to deliver improved project delivery
  • Making employees more aware of economy and clients financial position
  • Engaging the team to be aware of new developments and procedures
  • Ensuring all financial departments are communicating and operating effectively
 


CASE STUDY PRESENTATION

 

S

Santhanasamy Subbiah


Santhanasamy Subbiah has more than 30 years of experience in corporate world on accounting and finance practices. His experiences in various industries include that of Banking, Manufacturing, Education, Insurance, Security, Plantation, Shipping, Shared Services and Freight Forwarding. He was also with the Ministry of Works engaged in special projects funded by the World Bank.

 

Besides being in the corporate world he has lectured MBA programmes for the following Universities:- Open University Malaysia, University of New Castle Australia, Herriot Watt University UK, Asia Pacific International University and  was a Dean for the School of Accounting and Finance with a local University.

 

As a self-starter with his vast experience in numerous industries he is today a trainer and a principal consultant on GST for numerous of companies.  He is no novice to GST. He has worked closely with Price WaterHouse Coopers on matters pertaining to GST since 2005 and contributed valuable inputs during the meeting with Ministry of Finance on matters pertaining to the implementation of GST in Malaysia.

 

His specializes on the Understanding, Implementation and Hands-On training programs on Goods and Services Tax for numerous industries such as manufacturing, oil and gas, construction, logistic, retail, airlines, IPTA and many others. He is a GST trainer of Malaysian Institute of Accountants, Malaysian Institute of Insurance and Malaysia Institute of Corporate Governance.  

 

Santhanasamy holds an MBA majoring in Finance from University Putra Malaysia. He is a member of the Chartered Accountant of Malaysia, Chartered Management Accountant of UK, and an Associate Member of the Malaysian Institute of Management. He is a Certified Trainer of HRDF. He is a certified GST Tax Agent of Ministry of Finance



Early Bird

MYR 1378.00

Normal Price MYR1590.00

Inclusive of 6% SST

70

2 Day/s

Public Class

HRDF SBL Claimable

CPD Points & Certificate of Attendance Will be Provided

Lunch & Refreshment Provided