Overview
Packed with effective and proven to work techniques, this one-day program on Effective Debt Collection through Credit Management is highly interactive and uses a very useful approach in dealing with day to day collection needs.
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. For companies, a well trained employee means optimal resource utilization, increased cash conversion, reduced credit risk and excellent return on investment.
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 tutor new collectors and at the same time stands as a refresher for the more experienced.
Taught by an expert, this course is an intense workshop, yet enjoyable and very practical.
Bad debt, the opposite of profit, unfortunately, is a part of doing business, but not something that cannot be managed and control to a minimum thus ensure the company stays on the right track of profitability. 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.
Learning Outcomes
WHAT YOU WILL GET FROM THIS COURSE
In this workshop, the facilitator hopes to share his 24 years of practical experience in credit management, that is CREDIT ASSESSMENT AND RECOVERY, the 2 important components that would outline how to carry out the roles, functions and responsibilities appropriately to cope with the pressures, within or outside your organization, in handling professionally issues related to debt collection and ensure the company stays on course to achieving its goals.
- Understand the meaning and reasons for Credit Management
- Appreciate the important of credit policy in defining the objectives, function and responsibilities of credit department to achieve maximum profitability from trading
- Realise the need of credit assessment due to selective risk-taking in the interests of increasing overall profitability
Who Must Attend
-Credit Assistants, Executives & Managers
-Finance, Accounts & Admin. Executives and Managers
-Executives to Senior Managers
-Marketing Professionals in-charge of collection
Course Details
Module 1: Introducing Credit and its impacts
- Cost of credit
- Effect on Profits
- Effect on Liquidity
- Effect of bad debts
Module 2: Why need Credit Management
- Credit Management
- Its objectives
Module 3: What is a Credit Policy?
- Policies and Procedures
Module 4: Credit Assessment
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Assessment Policy
-
Establishing Creditworthiness
- Basic information sources
- In-depth information sources
- Customer Visit
- Credit Limits
- Credit terms
-
Credit Limit Review
- Credit limit appraisal form ~ 3Cs of Review
Module 5: Sales and Credit Relationship
- Resolve Conflicts
- Discussion: Can Credit plays a Proactive Role in Sales?
Methodology
-Interactive input & presentation
-Case Studies Discussions, Q&A (Question and Answer)
Course Leader
B H Soo has been involved in the area of Credit Management for the past 35 years, with the last 30 years in the management team. Trained by Americans and worked his way up, ‘rank and file’, and his working experience in various industries, together with 5 years in the Sales, he had accumulated vast, hands-on working experience, which had contributed greatly to making his credit control and debt collection training sessions very practical and performance orientated. He is currently a Credit Manager, heading the Credit Department of a foreign-based company.
To contact Mr Soo for any speaking, training and consultancy engagements, please contact us at +603 8074 9056 | Mobile +6012 6869 628 | +6018 2735 123 or email: info@iTrainingExpert.com
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
In house arrangement only.
Click here to Request for In house Quotation
Please contact us at +6012 6869 628 | +603 8074 9056
Email: info@itrainingexpert.com
Payment mode:
Payment must be 100% upfront upon confirmation.
