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 clear understanding of the credit assessment policy and its control mechanism, which covers credit evaluation and credit limit review, would lay down a strong and solid 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 Debt Recovery Masterclass, the facilitator shares his 37 years of practical experience in credit management i.e. credit assessment and recovery, the 2 most 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.
By the end of the Debt Recovery Strategies Masterclass, you will be able to:
- Understand the meaning and reasons for Credit Management
- Appreciate the importance of credit policy in defining the objectives, function and responsibilities of credit department to achieve maximum profitability from trading.
- Realize the need of credit assessment due to selective risk-taking in the interests of increasing overall profitability.
- Establish a Collection Policy that not only ensure recovery of debts, but also provide follow up procedures in monitoring and collection of debts
- Highlight Debt Collection Agencies and legal action process in debt collection
Who Must Attend
- Finance, Accounts & Admin. Executives & Managers
- Executives to Senior Managers
- Marketing Professionals in-charge of collection
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).
For his training and advisory services, feel free to contact us at email@example.com or call us at +603 8082 3707 |
+6012 6869 628 | +6018 2175 123
“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
"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. " Punitha Subramaniam, Head Of Business Support Section, Johor Port 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. 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