We have developed Credit Management and Debt Collection Recovery live seminars because professionals like you have asked for training that would help sort out all of the important issues that your business confronts on a daily basis. These hands on practical workshops are filled with invaluable tips, how to information and dos and dont's.
This intensive learning session covers everything you need to know comprehensively.
In this seminar, you will be equipped with the tools, techniques and professional skills needed to collect commercial accounts more effectively and by design, rather than by default without losing the customer or client while building a lasting customer relationship and opportunity for future sales.
If any part of your job involves collecting outstanding receivables and/or managing people who perform this business critical asset management function, you must attend this collection seminar to sharpen your skills and achieve your receivable cash flow goals.
Delegates will learn to apply stress management techniques , as well as listening and communication skills needed to remain motivated, in control and show confidence during the collection process while professionally collecting more past due accounts receivables faster and more effectively.
Cash flow management is so important in managing the health of a running business. With the implementation of GST by 2015 for Malaysia, it is even more critical to tighten the credit management and debt recovery policies in your business.
A better understanding of the credit assessment policy and its control mechanism, which covers credit evaluation and credit limit review, would lay down a strong foundation to manage your company’s risks to minimize bad debts.
Collecting book debts appears to be ‘so difficult’ to many people and deem uninteresting. Many people also find collecting debts an unpleasant job, not to mention frustrating and even complicating at times, even to senior staff. However, with the understanding of the credit recovery policy plus acquiring of the appropriate tools, strategies and techniques through training, collecting a debt can be professionally challenging and exciting career.
In this workshop, you will hear and learn from the experienced facilitator who would be sharing his 30 years of practical experience in credit management and MILLION DOLLAR DEBT RECOVERY experience. This is a MUST investment for all business!
By the end of the seminar, you will be able to:
- Realise the impact of sound credit management techniques.
- Understand the importance good credit management practice from top management and all aspects of the business.
- Review your organisation’s credit policy and identify areas for improvement.
- Manage Problematic Debts
- Profile your Customers
- Recover debt recovery in practical approaches
- Understand Legal Debt Recovery Strategies
- Initiate Legal Actions
- Avoid Futile Effort in Recovery
- Review Legal Case Studies
Who Must Attend
Entrepreneurs, Bankers, Accountants, Business and Finance Managers, Marketing Managers, Collection professionals, customer service managers, Small Medium business owners, Sales people, Finance Executives, Supervisors, Managers, Credit Analysts, Credit Controller, Bookkeepers and Recovery Officers.
(Course content consists of 85% in Debt Recovery & 15% in Credit Assessment)
- Credit Management
Ø Setting Expectations
- What do you expect to learn from this course
- Sharing Real-Life of Problematic Debt Experiences
Ø Poor Debt Management
- Balancing act
Ø Who are the customers?
- Type of customers
- Case Study - How to handle a difficult customer
Ø Collection Policy
§ Right Attitude
- Get rid of wrong attitudes
§ Negotiation Skills
- Principle of successful negotiation
- Case Study - Habits of effective negotiators
§ Hire right people
- The best person not necessary right person
- Routine reminders
- Repeat payment obligation
- Pareto Principle
- Cash discounts
- Penalty charges on late payment
- Stopped supplies
- Close rapport
- Provide Collection Service
- Staff Incentive Scheme
- Computer Aids
- Automated and Interactive technologies
§ Collection by Telephone
- Before making the call
- Making the call
- Closing the call
- Subsequent follow-up
- 10 Commandments
§ Personal Visits
- Big accounts
- Disputed invoices
- Suspected fraud cases
- Possible business closure
- 1st Reminder
- 2nd Reminder
- 3rd Reminder
§ Post-mortem of bad debts
- Report from sales personnel
- Review Credit System
- Why follow-up procedures failed to raise alarm?
Ø Case Study – Sales & Credit Relationship
Ø Credit Assessment Policy
Opening New Account
Basic information sources
In-depth information sources
6Cs of Credit
Credit limits & terms
Ø Credit Limit Review
- At least once a year
- 3Cs of Review
Ø Case Study - How to reduce the risk of late payment?
Ø Debt Collection Agencies
- Third party collectors
- Lack professional skills
Ø Legal Action
- Planning Stage
- Legal Process
- Legal Remedies
Case Study and Group Discussion. Real-current problematic debt cases will be analyzed and scenario solutions will be discussed within the workshop.
B H Soo is an associate member of Malaysian Institute of Management, a committee member of Association of Credit Management Malaysia and an affiliate member of Institute of Credit Management (UK).
Dr WC, Liew
PhD International Finance (US)
Dr Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has a Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD in international finance with Rushmore University of USA.
Dr Liew has been appointed as the Chief Financial Controller for several private sector companies, ranging from family-run businesses to professionally managed multi-national corporations in South Asia and the ASEAN region.
Dr Liew brings to you more than 30 years working experience in senior financial and operational management positions spearheading the profitability and growth of companies.
He has worked for the MBF Finance and its related group of companies over the 10 years before moving on to hold leading positions in Indonesia and Sri Lanka.
He is now actively involved in speaking and training in Malaysia, Singapore and the Asia Pacific region.
WHO HAVE ATTEND DR LIEW'S LIVE TRAININGS
Dr Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank-Bank Malaysia, Nestle, IQPC Worldwide Pte Ltd , Singapore, Lexis Nexis, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation , Ministry of Development, Brunei , BICPA Asean Management, Brunei, Risda Group Of Companies, Sales & Marketing Training Forum in Sri Lanka, Giant Retail Sdn Bhd, Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd, Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd ,Sony Malaysia Sdn Bhd , Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI and Ministry of Finance (MOF, Malaysia).
He specialised in Credit management and debt recovery and provides management consultancy and training specialising in Fast closing monthly, leadership, Strategic Planning, KPI, Balance Score card, budgeting, accounting, finance, Cost reduction, credit management and loan recovery.
To contact Dr Liew, please write to us at info@iTrainingExpert.com or call +603 8074 9045 | +603 8082 3707 | +6016 662 0448
"After the 2 day workshop on “Credit Management and Debt Recovery”, the following improvement are obvious, I set customer dateline for customers to pay, as the trainer impressed with the phrase “ customer always want to pay “ Now I have the passion for collection from my customers"Shafanie, Admin and Customer Relationship Manager, Salihin Consulting Group
"The clear improvement is the boosting of my confidence in negotiation with the customers on default payment, knowing what to ask, how to approach the customers as many role plays of customer interaction facilitated by Dr Liew really helps me in the collection process. Really nice to hear from you again and following up on my collection position." Alynn Tan, Credit Control Officer
"Before the credit seminar training, I am a very straight forward person in collection and sometimes customers cannot take it. After the training, I realize I should be cool and focus in the collection process. I am practicing them now and seeing a real change in my attitude towards the customers. Really thank you to Dr Liew." Punitha Subramaniam, Head Of Business Support Section, Johor Port Bhd
"The credit management and collection seminar reinforce my belief in building strong rapport with customer, help the customers and even take some risk if necessary to recover the debt. The skills learnt from the practical training process in solving and recovery the debts are indeed rewarding and challenging. Dr Liew, feel free to drop by for a cup of drink and chat."Woon Tein Khow, Marketing Manager and Credit Head, Theen Seng Paper Manufacturer Sdn Bhd
"The credit seminar indeed is very beneficial as I am now cutting down bad cases, do more prevention during evaluation stage and ask for advance payment. Before that, we will provide the professional services, bill them and then chase for collection. Really appreciate the skills and input from Dr Steven Liew. And also thank you for follow up with us after the credit and collection training session." Lim Kai Siang and Co, Chartered Accountant
"After the credit and collection seminar, Now I have the pretty good picture of guiding my credit staffs in the monitoring and collection process. Today, my Account Receiver (AR) is in a pretty good shape." Tan Kok Leong, Finance Manager, Omni Precision Sdn Bhd
"The greatest improvement after the 2 day credit and collection workshop by Dr Steven Liew is implementation of outsourcing to collection agency. What very effective and the bad cases have improved tremendously. The “human touch”, negotiates skills learnt , review and monitor accounts are really put to good use." Jumarin Ismail, Senior Internal Auditor, Technology Park Malaysia Corporation Sdn Bhd
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(Fee inclusive of GST, Buffet Lunch, Refreshment, Welcome Pack, Training Materials Certificate of Achievement)
1. ONLINE PAYMENT by Credit card: You can opt to register and pay online with our latest payment integration system through our website.
2. BANK IN CHEQUE
Bank in and then scan the Bank-in slip and email to us before the course commence to confirm your seat.
Courier your cheque payment to our Finance HQ.
*Note that we DO NOT take any payments during the event.
3. BANK IN CASH: You can also pay by cash through bank-in our company bank account.
4. Telegraphic Transfer- You can also opt to use GIRO or telegraphic transfer of payment via international banks.