Advanced Debt Collection Techniques and Strategies
In the pursuit of keeping debtor days and bad debts to the minimum, it is important to keep all members of the debtors department up to date with the latest collection techniques and trends in the industry, regardless of how long they have been doing the job. This Advanced Debt Collection course will give experienced debt collectors an objective view of their work and provides the much needed insight into how other renowned practitioners are successfully increasing their collection and lowering their debtors’ days. This course puts the collection process into the wider business perspective and focuses on “hard to collect” debt and issues surrounding potential bad debt signals and situations, allowing more contribution to the overall organisation’s success..
Who should attend the course?
- >The following category of practitioners will gain valuable information they need to refine and further improve their practical collection skills: Debt and Credit Managers, Financial Managers and Directors, Credit Controllers, Accounts Officers, Bookkeepers, Accountants, Administrative Assistants, Credit Supervisors, Debtors and Creditors Clerks, Internal Auditors and Accounts Support Staff.
The workshop aims include ways to:
- Understanding the developing role of receivables in the total business process; working within your organisation’s credit policy, and coming up with better ways that work for you.
- Collect large debt – proactive collection planning as the key that unlocks the payment problem; and collecting difficult debt – situations when you need to apply negotiation techniques and conflict resolution skills to identify and solve the problem.
- Employ innovative collection timing strategies – how to ensure your debt is “first in line” for payment; advanced use of client profiling – aligning your approach to the personality of the person you are dealing with; and watching out for the “criminal debtor” – spotting the danger signals in time.
The Learning Model
The trainer uses up-to-date training techniques and a variety of training methods, to give all participants the
best opportunities for learning including:
- Class session
- Group discussions
- Simulations exercises
- Case studies and problem solving exercises
- Individual assignments
- Templates and tools
Develop a brand strategy and positioning, leading to the creation and management of communication, pricing and distribution strategies, including a focus on new social media
Explore the implications of serving multiple markets and of emerging markets, which provide opportunities for sales growth, but can also be sources of new brands that threaten your markets
- The Role of Receivables in the Business Process
- Credit Policies that Work
- Successful Collection Planning
- Negotiation and Conflict Resolution during Collection
- Collection Timing Strategies
- Developing a Profile of your Client over the Telephone
- Debt Collection in Difficult Situations – Case Studies
- Bad Debt Warning Signals
- Dealing with the Criminal Debtor
- Ensuring Debtors Honour their Commitments