Financial Management is the process of managing the financial resources, including accounting and financial reporting, budgeting, collecting accounts receivable, risk management and insurance for a business.

Benefits of Financial Management System:

• Assure data consistency and compatibility for meaningful analysis and financial reporting.
• Control financial resources while being fully responsive to the challenges of public sector finance.
• Gain immediate access to accurate and complete information.
• Achieve organization-wide accountability-including clean audit opinions-by consistently applying accounting rules across all financial transactions.

The Invoicing Management System enables agents to easily create and manage invoices, customer profiles and preferences, create reminders and monitor activities.

Benefits of Invoicing Management System:

• Reduces the amount of time needed to manage exceptions.
• Eliminates time consuming repetitive invoice handling tasks.
• Fewer lost or delayed invoices.
• Accelerates the invoice approval process.

A credit control management system which positively authorizes every credit purchase furnishes account balance status and accumulates the dollar amount of every credit purchase. Customer account numbers, status, credit limit and account balances are stored in a magnetic memory.

The objectives of the course are to:

• Gain an understanding of principles and practice of controlling credit and managing debt in commercial organisations.
• Describe methods of controlling credit.