Personalized Credit Analyst Training
Our PCM Corp basic credit analyst training includes both credit and collections training for new and seasoned credit analysts.
Below, we offer ROI examples on training for credit control and training for collections and credit recovery to show how your organization can produce an immediate return on investment. Depending upon the training format (webinar training vs. in-person) and length of time (1 hour, ½ day, full day), the funds your company invests in its people can generate instant results.
To Learn More About “Credit Analyst Training”
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ROI Example 1
Attending an all-day in-person credit training session – cost assumptions:
Seminar training put into action – Employee uses training to recover funds owed to you:
- Outstanding receivable: $5000.00
Return on Investment (ROI) in Training = Total Cost/Funds Recovered
ROI: $480/ $5000 = 9.6% in one day!
Of course, the return is only realized if the recipient is willing to implement what they have learned.
ROI Example 2
Knowing when to say “no” to a risky-customer or taking prudent steps to avoid risk.
Let’s assume a new customer applies for a $5000 credit limit. Through the application of knowledge gained through our credit training program, your employee decides not to grant credit where the company may have otherwise done so.
Attending an all-day in-person credit training session – assumptions:
Company’s profit margin is 8%.
If credit would have been extended to the risky customer, and $5000 lost, you would need $62,500 ($5000/8%) in new sales to make up for the loss.
Return on Investment (ROI) on avoiding a risky sale = (Funds Lost/profit margin) / Total Cost of Training
($5000 ÷ 8%) / $480 = $62,500/$480 = 13,000% ROI on just one account!
Your newly trained employee helped the firm avoid needing to generate $62,500 in new sales to make up for the $5000 loss.
Credit analyst training helps your personnel to be better equipped to deal with the inevitable disputes that customers may have on their invoices. Some common customer hot buttons include:
- The customer has reached their credit limit, but your system will not release more product until he pays.
- The customer is not paying because he wants to draw your attention to his billing issues.
Credit analyst training enables staff to confidently and quickly address customer concerns. Once these kinds of issues are successfully resolved, your customer is likely anxious to place more orders with you and your cash flow is significantly enhanced.
Ask Us About Credit Control Manager Training
At Priority Credit Management Corp, we have seen first-hand how credit analyst training can transform staff and your company as a whole. Upon completion of the credit analyst training, participants will receive a full-colour certificate suitable for framing.
Find out if our personalized credit training program might be a good fit for you or someone on your team.