"Credit Boot Camp” Agenda

 

Day One

Introduction: Orientation

In the long run, we shape our lives, and we shape ourselves. The process never ends until we die. And the choices we make are ultimately our own responsibility.
— Eleanor Roosevelt

Welcome Remarks: Featured Speaker

Answering where: The Company and its Environment

The participants will learn about the company, the place where work is performed, its structure, organizational chart, roles, and culture.

Break and Q&A

Answering what: Reviewing Job Descriptions

The participants will review job descriptions covering: credit and collection, A/R and A/P, bank teller and financial service associate. (The purpose is to extract the needed skills in these fields)

Lunch

Answering what: The Soft and Hard Skills of Employability

The participants will learn about the top qualities that employers seek in employees. They will uncover the A through Z of employability.

Break and Q&A

Answering what: Ownership Structure and the Legal Environment

The participants will learn about the main ownership structures: Sole ownership, Partnership, and Corporation. They will also get a summary review of the main laws and regulations affecting the field of Credit and Collection.

 

Day Two

Spotlight on Credit:

Every morning in Africa, a gazelle wakes up.
It knows it must run faster than the fastest lion or it will be killed.
Every morning a lion wakes up.
It knows it must outrun the slowest gazelle or it will starve to death.
It doesn’t matter whether you are a lion or a gazelle.
When the sun comes up, you better start running.

—                An African proverb

 

Welcome Remarks & Review: Featured Speaker

Answering what: The Role of Credit Management

The participants will learn about the meaning, role, and function of credit and its relationship and importance to the rest of the company.

Break and Q&A

Answering what & how: The Role of Policies and Procedures

The participants will uncover the importance of policies and procedures and will gain insight into the process of credit by highlighting the key elements.

Lunch

Answering how: The Matrix and the Credit Decision Process

The participants will learn about the Matrix of Ability and Willingness. They will uncover the basic steps in the credit decision process and become familiar with the Cs of credit.

Break and Q&A

Answering how: The Cornerstones—The Credit Application and the Credit Report

The participants will learn about the cornerstones of the credit file: The Credit Application and the Credit Report. A review of a commercial and consumer credit application and credit report.

 

Day Three

Spotlight on Collection:

There comes a moment when you have to stop revving up the car and shove it into gear.
— David Mahoney

 

Welcome Remarks & Review: Featured Speaker

Answering what: The Role of Collection Management

The participants will learn about the meaning, role, and function of collection and its significance in protecting the lifeblood, the precious cashflow, of the company.

Break and Q&A

Answering what & how: The Role of Portfolio Management

The participants will learn about the importance of the aging report and will uncover strategies to effectively collect accounts receivable.

Lunch

Answering how: Communicating with the Debtor

The participants will learn about the most important tool: The Telephone. They will also look at examples of written collection communication.

Break and Q&A

Answering how: Enhancing the Collection Experience

The participants will learn about how to deal effectively with angry debtors and when to refer to third parties for collection.

 

Day Four

Spotlight on Accounts Receivable and Accounts Payable:

“A person often meets his destiny on the road he took to avoid it”.

—                Jean de la Fontaine

 

Welcome Remarks & Review: Featured Speaker

Answering what: Understanding Accounts Receivable (A/R)

The participants will learn about the importance of managing accounts receivable and timely cash application. Bonus discussion: Terminology.

Break and Q&A

Answering what & how: The Role of Data Input, Credit Memos, and Debit Memos

The participants will learn about the importance of accurate and correct application of cash as well as how to work with debit and credit memos. Review the process, from cash receipts, to payment identification, to application, to dealing with discrepancies.

Lunch

Answering what: Understanding Accounts Payable

The participants will learn about the function of accounts payable and the importance of timely payments to protect the company’s credit standing.

Break and Q&A

Answering what & how: Vendor Management and Payment Processing

The participants will learn about vendor set-up, vendor agreements and contracts, issuing purchase orders, invoice processing, and check handling.

 

Expert Forum: Tips and Nuggets of Wisdom

The participants will meet the experts in the fields of credit, collections, banking and finance. They will hear from them about their experiences.

Day Five

Spotlight on Enhancers and Experts:

It all depends on how we look at things, and not how they are in themselves.
— Carl Jung

 

Welcome Remarks & Review: Featured Speaker

Business Etiquette & Networking

The participants will learn about the importance of business etiquette and being professional. They will also gain insight into the meaning and significance of effective networking.

 

 

Break and Q&A

The Role of Negotiation

The participants will uncover the meaning of negotiation and learn about the styles and strategies.

Lunch

 

The participants will be given the opportunity to be interviewed by employment counselors in open discussions from several different agencies or directly by Human Resource personnel. 

Break and Q&A

Graduation Ceremonies Commence 

Graduates receive a Certificate of Completion from the Credit Management Association (largest NACM affiliate) which includes 3.75 CEU credits from the National Association of Credit Management (NACM). Graduates are interviewed for various press releases. 

The Credit Boot Camp Adjourns

  

At the center of your being you have the answer; you know who you are and you know what you want. — Lao Tzu