Debt collection is critical to a company’s financial health. Collecting accounts receivable without having adequate skills of negotiation could mean leaving money on the table. On the other hand, understanding negotiations and not having the required collection skills could reduce performance and recovery rates.
With an abundance of practical and engaging collection and negotiation scenarios, the program is tailored to challenge linear thinking that make the lessons practical and lasting. The program is designed in a manner to provide debt recovery strategies for the collections staff. Taught by an expert, this course is an intense workshop, yet enjoyable and very practical.
Bad debts resulting in losses, unfortunately, is a part of doing business, but it is something that can be managed and kept to a minimum to ensure the company stays on the right track of profitability.
Recovering debts appears to be ‘so difficult’ to many people and often considered uninteresting. Many people also find collecting debts an unpleasant job, not to mention frustrating and even complicated at times, even to senior staff. However, by understanding debt recovery policy and acquiring the appropriate tools, strategies and techniques through training, collecting a debt can be professionally challenging and exciting career.
The course focuses on strategies for improving debt recovery and inspiring continued compliance by debtors. This workshop is custom designed to help Collection Officers build confidence and further develop the necessary skills and techniques in order to collect on outstanding or deteriorating Debtor accounts, whilst continuing a productive, ongoing relationship with the Debtor.
• Understanding the various Debtor categories and their respective reasons for non-payment.
• Assessing the ability of individual Debtor to make payments.
• Effective Techniques and Approaches to Debt Recovery.
• Writing and Issuing Engaging Correspondence.
• Locating hard to find Borrowers.
• Design, Implement, Monitor and Examine Payment Plans.
• Investigating and Interviewing Techniques.
• Line Management’s role and responsibility
Collections / Accounts Receivable staff, Finance Managers, Sales Team members
15 to 30 persons
Costing will be available upon request