We have developed Effective Debt Recovery through Credit Management 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 don’ts.
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, this is the course that would sharpen your Debt collection 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. 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 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.
Together with a better understanding of credit assessment 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 besides enhancing your collection performance.
In this workshop, you will hear and learn from the experienced facilitator who would be sharing his 30 years of practical experiences in credit management which includes credit assessment and MILLION DOLLAR DEBT RECOVERY experiences.
This is a MUST investment for all business!
By the end of the Debt Recovery & Prevention Strategies through Credit Management seminar, you will be able to:
Ø Understand the effect of a good credit management or lack of it has on immerse consequences on both profit and liquidity of a company;
Ø Review your organisation’s credit and collection policies and identify areas for improvement;
Ø Realise the important of a sound collection policy for effective monitoring and collecting of debts;
Ø Learn practical approaches to effective debt recovery;
Ø Profile your Customers for effective and efficient efforts;
Ø How to manage Problematic Debt and avoid futile efforts in debt recovery;
Ø Learn who Debt Collection Agencies are;
Ø Understand Legal Processes for recovery through legal actions;
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.
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
- 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?
Module 6: Cash Collection
- Collection Policy
Module 7: Effective Collection Skills
- Discussion: How to improve the outcome of your debt collection negotiations?
- Right attitude
- Hire right person
- Assertive communication
- 11 essential techniques
- Listening skills
- Telephone Collection skills
- Discussion: How to make your collection calls get results?
- Questioning and probing skills
- Reminder letters
- Personal visit
- Post-mortem of bad debts
Module 8: Explore external collection methods
- Outsource to Debt Collection Agencies
- Third party Collectors
- Cost effective
- Debt recovery through Legal Proceeding
- Planning Stage
- Legal Process
§ Filling of writ in court
§ Service of summons
§ Entry of appearance
§ Entry of defense
§ Obtaining Judgement
- Legal remedies
§ Writ of Seizure and Sales
§ Garnishee Proceedings
§ Judgement Debtors Summons
§ Winding up
- Case Study - How to reduce the risk of late payment
- Q & A
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 firstname.lastname@example.org or call us at +603 8082 3707 |
+6012 6869 628 | +6018 2175 123
"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