Overview
Bad debt is a serious matter for any company. It has been known to ruin otherwise successful concerns. However, it is essential to ensure that your debt collection activities result in payment of the outstanding amounts, without damaging your customer relations. This training course will enable you to do just that.
You will learn to understand the importance of credit control and debt collection, plan an effective debt collection programme and acquire proven techniques for written and telephonic debt collection.
Learning Outcomes
Participants will learn the art of implementation of simple and proven credit control processes in order to minimise the risk of long-term outstanding debt. Participants will also learn how to effectively collect outstanding debt without damaging the supplier-customer relationship.
Who Must Attend
- Credit Assistants, Executives & Managers
- Finance, Accounts & Admin. Executives & Managers
- Executives to Senior Managers
- Marketing Professionals in-charge of collection.
Course Details
2 DAYS TRAINING
Module 1: Overview of the Laws and Regulations of Malaysia in Debt Collection & Recovery
Debtors Act 1957
Fair Debt Collection Practices (Set by Bank Negara)
Personal Data Protection Act 2010
Limitation Act 1953
Module 2: Company Credit Terms and Debt Collection
Reviewing the credit cycle from application to payment
Identifying possible causes of outstanding payments
Assessing the impact of outstanding debt on your company's financial results
Identifying ways in which you can motivate your customers to pay their outstanding debts
Methods of assessing Credit Risk
Assessment based on 5 C
How to develop a Credit Rating System
How to design and monitor and aeging report for outstanding debts
Difference between debt and payment default
Module 3: Debt Collection and Recovery Techniques
Statement of Account, Reminders, Letter of Demand
Aged Debtor List
Establishing procedure for overdue debt – using outside debt collection agencies
Legal Proceeding to recover bad debts
Outsourcing of Account Receivable functions
Complying to debt accrual date to date of commencement of collection – to ensure not bound by limitation period.
Module 4: Collecting debt as a vital financial activity
Completing debtor reports as an effective debt management tool
Setting definite and realistic debt collection targets
Comparing your debt collection results to your initial objectives
Analysing the return-on-investment of your debt collection activities
Module 5: Planning and preparing for effective debt collection
Classifying your debtors to enable a well-targeted approach
Using the debtors classification to analyse the potential risk each debtor poses to your company
Drawing up a collection checklist to facilitate systematic collections
Exercise: How do you decide whether to collect the debt by telephone or by letter?
Case Studies, Group Work & Application of Methods / Technique
Module 6: Ensuring the success of your debt collection correspondence
Correspondence methods – in writing / sms / whatsapp (Crediblity and Integrity of each communication method)
Understanding the essential elements of debt collection correspondence - Contents of correspondence in writing
Paraphrasing the "pay up or else" threat in a more effective and customer friendly fashion
Acquiring essential skills for compiling debt collection letters, e-mails and faxes
Addressing your correspondence to the correct person to guarantee results
Module 7: Teledebt Collection techniques
Ensuring that you are sufficiently prepared before dialling the number
Understanding professional telephone procedure
Dealing with angry customers
Overcoming personal excuses and company objectives
Turning promises into commitments to pay
Using agreed payment dates and reminders to ensure that the debt is paid
Learning how to close calls amicably and get debtors to even call back
Module 8: Legal Process
What is a limitation period?|
Before commencing an action
Letter of Demand
Debt recovery action
Commencing an action in Court
Ways to recover the Judgment Debt
- Judgment Debtor Summons
- Garnishee Proceedings
- Writ of Seizure and Sale
- Winding-up Proceedings
- Bankruptcy Proceedings
- Order of Committal
Case Studies, Group Activity & Application of Techniques
- Role Play Session of Actual Debt Collection Scenario
- Group Presentation
- Post Mortem of Performance During Role Play
- Mind Mapping
- Assessment Quiz
Methodology
- Highly Interactive Session, with a bilateral approach to the subject matter allowing participants to share incidences at respective work locations.
- Short Video Presentation
- Mind Mapping and Recap Sessions
- Workshop Session – allowing participants to have a hands-on participation in the application of planning, implementation, execution and compliance inspections strategies and work in synergy with other participants
- Ice Breaking / Monotony Breaking Sessions – Purpose of rejuvenating the mind
- Encourage team work
Course Leader
Suresh Kumar LL.B (UK)
Suresh Kumar is a trained and certified Risk Management professional in the area of Supply Chain Risk Management and Brand Protection. He attained his Bachelor’s Degree in Law from the University of Wolverhampton (UK). He then went on to be trained and certified as an auditor and practitioner in the specialized area of Risk Management under the auspices of United States of America Customs and Border Protection (Customs Trade Partnership Against Terrorism- CTPAT Standards); and; Transported Asset Protection Association (TAPA Standards), Asia. He is also a Human Resources Development Trainer certified by the Human Resources Ministry.
He is currently the Managing Director & partner of Paradigm Group of Companies specialized in providing risk management / assessment services for internal / external associates; Consultation on Supply Chain Security Risk; Brand Standards / Management / Protection; Contract Management; Outsourcing & Subcontracting; and; Human Resources training and development programmes on various specialized topics, predominantly, Risk Management related subject matters, either on an one off or Project basis.
In view of this, he is now working in collaboration with the Malaysian Anti Corruption Commission and the Malaysian Institute of Integrity on Community Development and Awareness programmes in relation to Anti Bribery and Corruption initiatives in Malaysia.
List of clients that have participated in S. Suresh Kumar’s training and workshop sessions:-
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ü Ornapaper Industry Sdn Bhd ü Lii Hen Furniture Sdn Bhd ü Perabut Chip Hong Sdn Bhd ü Kurnia Sejati Sdn Bhd ü Samsung Electronics Display Sdn Bhd ü J&E Hall Refrigeration ü Delta Force Security Services & Consultancy Sdn Bhd ü PKT Logistics Group Sdn Bhd ü Bertam Security Services Sdn Bhd ü Weida Intergrated Industries Sdn Bhd ü Pak Suzuki Motors, Karachi, Pakistan. ü Macro Vision Consultancy, Philipines ü Infineon technologies (M) Sdn Bhd ü Flextronics Technology (Penang) ü Kawalan Perwira, Penang. ü Futuristic Group of Companies, Selangor. ü Cel Logistics Sdn Bhd ü SPPG (M) Sdn Bhd ü New World Suites Sdn Bhd ü United Detergent Industries Sdn Bhd ü CIMB Bank Berhad ü Mahmood Security (Malaysia) Sdn Bhd ü Smart Solutions Training & Consultancy ü Tenaga Nasional Berhad Janamanjung
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ü F&N, Kuching, Sarawak ü Borneo Waters, Kuching Sarawak ü Maybank Berhad ü Honda Malaysia Sdn Bhd ü Indah Water Konsortium Sdn Bhd ü Quintiq Sdn Bhd (Software Hub) ü Coway Malaysia ü Rexit Sdn Bhd (Software Hub) ü LeapEd Sdn Bhd ü Rhone Ma Holdings Bhd ü Am General Insurance ü Supply Specialist Sdn Bhd ü Pestech Sdn Bhd ü Tealive Asia ü Rohm Wako (M) Sdn Bhd ü |
ü Bank Islam, Malaysia ü Sapura ü Petronas ü Singtel ü Cerebos (M) Sdn Bhd ü Brighton Management Limited (Labuan, Malaysia) ü Foodpanda Malaysia ü Hong Leong Bank ü Pacific Insurance Berhad ü United Bank Ltd, Karachi, Pakistan ü MCB Bank Ltd, Lahore, Pakistan. ü National Database & Registration Authority (Ministry of Interior, Government of Pakistan) ü The AGA Khan University, Karachi, Pakistan ü Hascol Petroleum Ltd, Karachi, Pakistan ü National Bank of Pakistan, Karachi, Pakistan. ü AJS Components (M) Sdn Bhd ü Perbadanan Perumahan dan Pembangunan Sarawak ü Score Asia Sdn Bhd ü Proton ü Jabatan Kerjaraya ü Penang Port Sdn Bhd
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Anti Bribery & Corruption Compliance Training and Consultancy Programme
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ü Leopad Group Malaysia ü E.A. Technique ü Cradle Fund Sdn Bhd ü KWAP ü Suruhanjaya Tenaga Malaysia ü NSK Microprecision Sdn Bhd ü Permodalan Nasional Berhad
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ü KOSMA Holdings Sdn Bhd ü UiTM ü Canon Malaysia ü Tiong Nam Logistics Sdn Bhd ü NGC Energy, Malaysia ü United Melaka Berhad ü SEGI University ü Limkokwing University of Creative Technology (Malaysia; Cambodia) ü Tenaga Cable Sdn Bhd
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With his background of a law degree, he is able to invoke legal implications in his programmes to make it more comprehensive and value added substance. In addition, his fluency in English and Bahasa Malaysia enables him to conduct training programmes effectively in both languages.
Prior to his involvement in this field, the facilitator has wide working experience throughout his 15 years of working career in the specialized area of Risk Management, Security Management and Investigations (HR, Security (Operational and Information Security) and Safety, Corporate Governance and Ethics). Being a Head of Department in each of this portfolios, he has acquired substantial job related knowledge and experience in sectors comprising of Manufacturing, Telecommunications, Hospitality Management (Brand Standard & Management) and Contract Manufacturing (Brand Protection and Management). He is also a trained Workplace Counselor and by virtue of his portfolio of having to deal with people of different job hierarchy, he has very profound people management skills, negotiation skills and effective interaction skills. His previous employers and related portfolios are as follows:-
- Infineon technologies (M) Sdn Bhd – Security Manager (Backend Manufacturing Plant, Melaka)
- Celcom Axiata Sdn Bhd – Manager, Head of Risk Management (Nationwide)
- Rennaisance Melaka Hotel (Marriott International) – Loss Prevention and Brand Standard Manager ( Melaka Hotel Facility)
- Flextronics Penang - Loss Prevention Manager ( 5 Contract Manufacturing Sites in Penang)
Testimonies
“Before attending the course, I feel demotivated as I unable to engage with customers. However, during the course, I learned the way how to engage with customers. I feel more motivation and have more idea on how to engage with customers. Overall, it is an excellent training by Mr. Soo. I personally like the topic related to credit manage,ent and credit assessment.” – YH, Tan, Credit Control – See Hoy Chan Sdn Bhd
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“I feel there is a need to learn more on debt prevention and collection. During the course, I got to learned what I needed which is the strategies and effectiveness of debt collection. After the course, I feel the objective of this training is achieved. Soo is knowledgeable and good ability to deliver the training successfully. I particularly like the topic related to strategies of collection.” – Nor Azlina, Senior Associate – Pos Malaysia Berhad
“Before the training, I feel that I have minimal knowledge about debt collection. However, during the course, I gained a lot of knowledge on strategies and effective to do collection during the training. I feel the training objective was achieved. Soo has very good knowledge on collection and he delivers the subject very well. It is a very good training to attend. I particularly like the topic related to strategies of collection.” – Siti Adiya,Senior Associate – Pos Malaysia Berhad
“After the course, I see the importance of credit control to a company. Soo is very aggressive and well experience trainer. I learned about strategies of collection through this training and all areas covered by Soo were great.” – Norhayati Alias, credit controller – Merck Sdn Bhd
“I learned how to handle difficulties on collection when dealing with customer. After the course, I fell how important the role as credit controller to the company. Soo has good experience, presentable and well knowledge on credit management. I particularly like the topic related to influential skills.” – Serene Chan, Senior Credit Management Executive – Merck Sdn Bhd
Investment
| Normal fee |
| Sign up 1 pax |
| Pay before course starts |
| MYR 1,490.00 |
| USD 430.00 |
| Early Bird |
| Sign up 1 person |
| Pay 14 days before course starts |
| MYR 1,290.00 |
| USD 380.00 |
| Group Fee |
| Sign up 3 pax or more |
| Pay 14 days before course starts |
| MYR 1,190.00 |
| USD 350.00 |
E-Certificate
Upon successful completion of this program, you will receive a e-Certificate of Achievement.
Payment mode:
1. Online Payment by Credit card: You can opt to register and pay online with our latest payment integration system through our website.
2. Telegraphic Transfer- You can also opt to use GIRO or telegraphic transfer of payment via international banks.
Contact us: ITRAININGEXPERT GLOBAL PLT
Tel:+603 8074 9056 | +603 8082 3707
Mobile: +6012 6869 628 | +6018 2175 123
Email: info@itrainingexpert.com
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