debt collection skills & techniques
DESCRIPTION
Specialists in Training for PREVENTION & COLLECTION of DEBT-Any sector! see: www.CollectionSkills.comTRANSCRIPT
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
‘Professional ‘Professional Debt Collection Techniques’Debt Collection Techniques’
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
Collect your Outstanding Dues with our 2 Day Training on:
ProfessionalProfessional Debt Collection TechniquesDebt Collection Techniques(Techniques to Prevent & Collect Outstanding Receivables)(Techniques to Prevent & Collect Outstanding Receivables)
Facilitated by Leading Corporate Trainer: Gerard Assey, CMC, FInstSMM (UK)
If you have 8 or more personnel,this session could be tailor-made &conducted at your premises orvenue of choice
www.Sales-Training.inwww.CollectionSkills.comwww.SalesTrainingIndia.com
Websites:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
‘Collection Skills’- a leading Training Provider & the only one in this part of the world to belisted in the ‘Collections & Credit Risk Magazine’ under ‘Who’s Who in Training’ & ranked TOPon mostsearch engines.
‘Collection Skills’- as the name says, specializes in conducting Professional TrainingPrograms for the industry in ‘Prevention & Collection of Debt’ and has been regularly doing sofor over 10 years serving customers from a diverse range of industries, with an impressive listof some of the top mostnames in India, Middle East, Africa & SE Asia.
Right now, with cash tight and business slowing down, banks need to go after the bad debts likenever before. Theyneed to go after the receivables even it if means getting just something now!
Like all significant economic change, it creates opportunities for those who have it in them todeal with it. During economic downturns, one of the main reasons why businesses go under isbecause they run out of cash. However sound your business is in other ways, successful CashFlowManagement should be the main priority.
About About Us :Us :
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
A recent study on the growing sickness in industries and businesses reveals that BAD DEBT isthe one major cause for bankruptcy. In a buoyant economy, selling on credit has a number ofadvantages, especially when it generates a larger volume of business as well as widens one'smarket share. In fact, selling on credit often 'Makes' or 'Breaks' a sale and at most times givesone that edge over competition. Yet, one cannot afford to take this area of credit control lightly,as too many companies everyday are mounting with debts that are increasingly doubtful ofrecovery
Has it ever occurred? …That before the customer buys your goods both are interested - he inyour goods and you in his money, but once he gets the goods he is no more interested. It's onlyyou (for your money!). A company can have the finest product, a superb sales record and themostdedicated workforce,but if it does not get paid (.... and on time!) it will die. An unpaid debt
About About Us :Us :
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
is a loan being financed by your company - it means that many companies are prevented fromachieving their full potential, because instead of using borrowed money to develop and growtheir business, they are having to borrow money just to fund their own sales ledgers - with themost precarious risk to a company's profit on the sale being the interest expense from non-payment on time.
Managing credit and collecting money therefore are the 2 most important and vital factors which decide the fate of any business
About About Us :Us :
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
To ensure participants are equipped with the necessary skills inCollecting/Minimizing the outstanding, while yet keeping the Customer.
To provide a thorough understanding of how bad debt occurs, the impact it hason the organization & how the prevent it (the most vital part!).
To equip participants with the skills in understanding the behavior pattern ofcustomers, (beginning by understanding their pattern), in order to ensure thatthey fine-tune theirs to that of each customer.
To ensure that the team is equipped with the skills to manage /control/ monitor Collections on a day- to- day basis.
Objective Objective of the Program:of the Program:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
‘Collection Skills’ program on ‘Professional Training Skills for Collection of BadDebt’, would cover the basics in credit & cash flow management right from howbad debt occurs, through the steps of an effective collection call (both onphone & face to face) with emphasis on the importance of documentation/reports/ procedures for systematic follow-up; including series of letters andgeneral tips for chasing your money too (by encouraging proactive methods!).
A must for anyone involved in collecting money: Managers & Executives inCollections, Credit Control, Sales, Finance, Internal Audit & Customer Service,at all levels, (right from top down to the front line) will find this programextremely beneficial
TargetTarget Participants:Participants:
Program Program Outline:Outline:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
Detailed Detailed Program Outline:Program Outline:
qIntroduction
qBusiness Cycle (Cash Flow Merry-go –round)
qSlide to Insolvency
qHow money is lost everyday
qPareto Principle (80:20 rule)
qBad Debt- A major profit leak
qMajor Causes for Bad Debt
qDanger/ Warning Signs that can alert u!
qWhy Customers don’t pay
qBenefits of paying on time
Part A
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
q Qualities & Attributes that can make you a Professional Collector
q Key Activities & Responsibilities of a Collector
q Strategy & Implementing the Collection Program
q Steps to an Effective Collection Call
q Objectives of your Call
q Pre-Call Planning /Importance of Preparation(Physical, Mental, Voice, Tools, Client information: Past History, Assessing Intent/ Ability to pay, Market/ Industry/ Competition Analysis/ Situation, Call Strategy)
Part B
Detailed Detailed Program Outline:Program Outline:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
q The Collection Call -Approach/ Control/ Follow-up
oApproach-When, Where & How to contact customers•Opening your Call: What to say
oFact-finding•Communicating with Confidence•Effective Listening & Obstacles to Listening•Skillful Questioning Use of Open-ended questions•Confirming Understanding/Paraphrasing•Being Assertive!
oBridge to Payment Plan-Transition statementsoPrinciples of Negotiation
•Types of Negotiation
Part B
Detailed Detailed Program Outline:Program Outline:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
•Benefits/Uses of Negotiating•Variables in Negotiating•Power to influence Negotiation•Key Essential Rules in Negotiating•Tactics of Negotiating
oThe Payment PlanoOvercoming/Handling Problematic/ Difficult CustomersoThe CloseoFollow-up
qUnderstanding yourself, to be able to understand others better, & how to use this tool in interacting with customers as partners, to build long-term relationships.
Part B
Detailed Detailed Program Outline:Program Outline:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
qBack-end Systems & Procedures
qReminder letters/emails & other methods of Chasing: How should they be handled
qImportance & Samples of Different Records/Reports/Procedures
qMethods to Track/Monitor & Measure Performances, Documentation Procedures Systematic Follow-up
qCategorizing Customers/Defaulters with specific skills sets to handle each type
qImportance of Coding Customers/ Unique Method of Coding
qGeneral tips for chasing money (by encouraging proactive methods!)
Part C
Detailed Detailed Program Outline:Program Outline:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
qCoping with Stress & Pressures experienced by the Collector
qCompliance requirements
qAvoiding debtor rights from being violated & adhering to the rules & ethical behavior for Collectors.
qManaging your time/ Prioritizing
qVideo clippings of Good/ Bad call
qRole-Plays of entire Call
qQ & A Session
Part D
Detailed Detailed Program Outline:Program Outline:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
At the end of the program participants would have learnt to manage credit, andwould have learnt to develop a complete systematic collection program, gainedconfidence in collecting money and have acquired several new ideas forimmediate use, including taking back an Action Plan which can be put toimmediate practice.
ActionAction Plan:Plan:
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
ProgramProgram Methodology:Methodology:
Using a combination of SEE & REMEMBER, along with DO & UNDERSTAND, supportedby audio-visuals, video clippings/movies, exercises & role-plays, providing everyone anopportunity to experience & practice the skills throughout the session, the program couldbe specifically tailor-made to suit any exact need.
üAt every important stage of the call, video clippings would be played to reinstate a point.
üAt the end of the session, video clippings on a ‘‘GOOD’GOOD’ & ‘BAD’‘BAD’ call would be shown followed by role-plays to ensure that participants are fully equipped
üAn exhaustive exercise on the various Excuses/ Objections raised by customers and the professional approach used to handle these.
üAn exercise on understanding the behavior pattern of Customers, & how to use this tool in interacting with the internal & external customers, to build long-term relationships
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
Testimonials:Testimonials:
“Valuable pieces of “Valuable pieces of advice…very good, step advice…very good, step
by step, organized by step, organized course, that I would course, that I would
highly recommend..!”highly recommend..!”
“Gerard delivered “Gerard delivered from his heart…well from his heart…well
structured for our structured for our job!”job!”
“Very “Very veryvery interesting interesting course…very practical & course…very practical &
lively course…A must for a lively course…A must for a professional”professional”
Techniques to Prevent & Collect Outstanding ReceivablesTechniques to Prevent & Collect Outstanding Receivables
Professional Professional Debt Collection TechniquesDebt Collection Techniques
We service some of the top most names as Clients in India, Middle East , Africa & SE Asia…names and testimonials of which can be seen on the websites listed below:
Websites: www.Sales-Training.inwww.EtiquetteWorks.inwww.CollectionSkills.comwww.RetailSalesTraining.inwww.SalesTrainingIndia.comwww.ManualPreparation.comwww.FirstContactAcademy.com
Phone:(091-44) 43531000(091-44) 43531300
Hotline: +91 94440 365(days)(days)24(hrs)(hrs)
Mobile: +91 98400 99899
Email:[email protected],[email protected]@SalesTrainingIndia.com,