Guest Lecture on ‘Advanced Financial Management’

The PG Department of Commerce arranged an online Guest Lecture in Advanced Financial Management / Investment and Financing Decisions for students of Part – I and II, on 12^th November 2020, at 10:30 a.m.

The Resource Person for the session was Ms. Basma Yakub, Credit Control Team Leader, Travelpack, Verna. The session began with the introduction of the resource person by Mr. Anmol Shetti of M.Com Part I. Travelpack, with its headquarters in Wembley, London, conducts business in the tourism and flight industry. It has clients in B2B and B2C sectors. It deals in flight tickets, holiday packages, ground arrangement and so on. Ms BasmaYakub provided an overview of the various departments in the organization and also the job opportunities available in each department. Travelpack has the following departments:

1. Marketing department – is involved in generating customers and clients from the B2B and B2C sectors.
2. Credit Control Department –assesses the credit risk of the clients, credibility of the firm and decides the credit limits
3. Data Team – sets up all details to be used by the sales team
4. Web Team – designs the logos, brochures, banners and pamphlets
5. Reservation Department – involved in selling the products / tickets
6. Global admin – is the back end office of the reservation team
7. Ticketing Department – issues the products to the clients
8. Accounts Department – involved in both accounts receivable and payable.

Ms. Yakub then discussed about ABTA, TTA, IATA and ATOL. She discussed the major functions of the credit control team:

1. It looks into the collection of payments from all agents and direct passengers
2. Its major responsibility is to set appropriate credit terms for customers and see that they adhere to the same
3. In case of nonpayment, credit control does the job of chasing the agent or direct passenger keeping in mind that the overall business relation with the agent should not be adversely affected

Ms. Yakub discussed the job expectations in the Credit Control Department:

1. Opening accounts for travel agents
2. Send questionnaires, credit terms letters, vat forms
3. Setting up profit margins for the agencies
4. Travel association file creation, uploading and receiving the file
5. Processing agent’s or client’s statements or invoices
6. Resolving discrepancies on all types of invoices
7. Generating incentive reports for VIP agents, and so on

The session ended with the vote of thanks by Ms. Stacy Pereira of M.Com Part II. 52 M.Com students attended the session.