Credit Research Foundation HOMEROOM

Most of your "Principles" courses in credit today are geared toward the entry level credit person who has a need to learn what credit is all about. On the other hand, this program is designed for those individuals who already have a general understanding of the credit management function. It provides the student who has a genuine interest in receivable management a deeper understanding of the intricacies involved in administering a receivable portfolio and places them on a career path to becoming a productive manager in the discipline of credit management.

The course, intended for credit team members looking to enhance their level of knowledge in credit management, provides an insight into the key components of formulating a strategy designed to enhance efficiencies in managing a business receivable portfolio. It looks at formulating a policy to support the organizations strategic mission. It affords the student an opportunity to interactively observe and discover best practices lending to effective administration of the inner workings of the credit management function. It gives participants a general overview of the laws and ethical standards impacting credit management today. It identifies measures that can be utilized to track receivable management performance and illustrates the art of designing reports lending to increased productivity in receivable portfolio management.

Course Description:

• Lesson 1 – Fundamental Aspects of Credit Management: This lesson teaches the background and components of business credit with an emphasis on the role credit plays in your company and explores the characteristics, skill and competencies required of effective credit management.
  
  
• Lesson 2 – Credit Department Structure: This lesson examines the alignment of the credit department to the businesses overall objectives, identifying positions, developing job descriptions, determining personnel qualifications, putting in place systems, processes and procedures designed to create efficiencies in workflow. It looks at factors to be considered in establishing and implementing policy and ongoing review for pertinence to the organizations objectives and examines the role of credit terms, what dictates them, and how cost of terms factor into cash flow and profitability
  
  
• Lesson 3 – Credit Decision Making: This lesson deals with the investigation and appraisal of customer credit risk. Points discussed are: types of business and legal composition, the credit application, new account process, a judgmental analysis of the financial and non-financial factors of customer evaluation and the use and purpose of a customer credit line.
  
  
• Lesson 4 – Collections: Here you will learn the principals of collections, responsibility, effort, tools and techniques, third party collections and legal aspects of collections. Furthermore you will learn the management of the collection process: working with third party collection agencies, lawyers and the litigation process.
  
  
• Lesson 5 – Managing Customer Deductions: Discover how to identify the cause of customer deductions and strategies to avoid them. Also discussed are settlement strategies and negotiating settlement tactics.
  
  
• Lesson 6 & 8 – The Legal Aspects of Commercial Credit Granting & Dealing with a Distressed Customer: Effective administration of credit and AR management carries with it the responsibility of complying with many legal requirements to protect you, your company and your customer. Lesson 6 covers valuable knowledge of: Consumer Protection Legislation, Antitrust Legislation, Unclaimed Property Laws and The Uniform Commercial Code. In Lesson 8, you will learn the ramifications of dealing with distressed customers through: Options Outside of Bankruptcy and Dealing with a Customer Who Has Filed for Bankruptcy.
  
  
• Lesson 7 – Risk Mitigation Strategies & Devices: Creditors have many options to reduce the risk inherent in any business's AR portfolio. Here you will learn the options available to your company and how best to initiate the variety of alternatives that include: Secured Transactions, Factoring, Credit Insurance, Letters of Credit, Guarantees and Selling Accounts Receivable.
  
  
• Lesson 9 – Evaluating Receivable Management Performance: "Tell me how I am rewarded and I will tell you what my focus is." This is a common refrain heard by staff working in credit and collections. Fortunately the activities involved in the credit and AR functions lend themselves appropriately to being measured. The challenge is to determine the proper measure, understand them and consistently use them. This final session discusses: Measures of Credit & A/R Performance, Adding Value to Your Organization & utilizing A/R Management Reports to monitor performance.
  
  

  This class is taught by Lyle Wallis, CCE, Vice President of Research for the Credit Research Foundation. Lyle has over 30 years of practical credit management experience working for several major US corporations. The material in this course is largely based on material compiled by the Credit Research Foundation. Students taking the course will see a full-screen view of the CRFOnline Classroomtm .   Registration is open through September 10th, 2010 To register Click here This class runs September 13 though November 19th, 2010

  Videos on this CRF website require a Flash enabled browser. 

  The Credit Research Foundation Certificate of Professional Development will be awarded to students who have successfully completed each of the assignments in the course and have achieved an average score on the assessments and final exam of 70%. 

  

  Receivable Management - 125
  The Next Receivable Management Class will begin September 13, 2010.
  To find out more about this session: email class instructor
  Lyle Wallis at: lylew@crfonline.org

  Registration is open through September 10th, 2010
  To register Click here This class runs September 13 though November 19th, 2010

  This is a group virtual classroom that can be accessed 24/7 from any internet enabled computer. Students will work at their own pace, with each session being completed within 2 week periods.

  See What Students Say About This Class

  "I really learned a lot from this course. All of the information given was very helpful and could be applied towards my current duties. Thank You." Andrea Clarke, Mizuno USA "I felt the course was very helpful in my overall understanding of the Credit Department and it's function in a company." Diana Espejo, Acushnet Company  "Thank you for the opportunity and feedback with this course. It has given me a strong foundation which can hopefully be built upon with real-world experience." Courtney Brightman, Acushnet Company  "I very much enjoyed this class. I have not taken a class in many years so was a little nervous, but very quickly it became a very good experience and I'm very glad I made the decision to take this course!!" Wendy Clark, CoorsTek  "The course material was excellent and well organized." Carla Fryar, Mizuno USA

The cost for the entire course of 9 lessons within a five-session format is just $495.00. 

Credit Research Foundation members save over 30% and register for $350.00  

Credit Research Foundation Premier Plus members receive 1 registration to 1 CRFOnline Classroom course each year.

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