INTRODUCTION
Struggling to recover debt? The course outlines effective communication, negotiating skills as well as the effective use of correspondence in collecting debt.
FOR WHOM IS THIS COURSE RELEVANT
This course is suitable for debt collectors, account assistants, bankers, sales people, executives and manager/team leaders who are involved in debt collection.
DURATION
5 Days
TRAINING OBJECTIVE
Upon completion of this training course, participants will be able to:
Make a debtor call after careful planning in order to handle objections from the debtor and deal with queries.
Identify negotiating strategies in order to reach payment agreement from the debtor.
Demonstrate effective communication as a debt collector.
Understand the importance of recording all communications and discussions made between the debtor and the debt collector.
Implement the negotiation steps and processes and understand the need thereof.
Prepare the material for the correspondence sent to the debtor in accordance with the legislation.
Implement effective debt collecting strategies according to the code of conduct.
COURSE OUTLINE
Module One:
Understanding company credit and debt
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
Module Two:
Debt collection 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
Analyzing the return-on-investment of your debt collection activities
Module Three:
Planning and preparing for effective debt collection
Classifying your debtors to enable a well-targeted approach Understanding the essential elements of debt collection correspondence
Paraphrasing the "pay up or else" threat in a more effective and customer friendly fashion
Acquiring essential skills for compiling debt collection letters, telegrams, e-mails and faxes
Addressing your correspondence to the correct person to guarantee results
Using the debtors classification to analyze the potential risk each debtor poses to your company
Drawing up a collection checklist to facilitate systematic collections
Making use of a customer card system as a comprehensive record of all debtors' histories
How do you decide whether to collect the debt by telephone or by letter?
Module Four:
Ensuring the success of your debt collection correspondence
Understanding the essential elements of debt collection correspondence
Paraphrasing the "pay up or else" threat in a more effective and customer friendly fashion
Acquiring essential skills for compiling debt collection letters, telegrams, e-mails, and faxes
Addressing your correspondence to the correct person to guarantee results
Module Five:
Essential telephone techniques
Ensuring that you are sufficiently prepared before dialing the debtor
Understanding professional telephone procedure
Dealing with angry customers and excuses
Overcoming personal 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
We are proud to offer this course in a variety of training formats to suit your needs.
Our courses are carefully curated to keep you abreast of latest industry trends, technological advancements, and best practices. We employ a variety of teaching methodologies, including hands-on workshops, case studies, and interactive sessions, all aimed at fostering an engaging and effective learning environment. Our expert instructors bring a wealth of knowledge and real-world experience, providing our clients with insights that can be immediately applied in their professional lives.
Our courses serve as a vibrant platform for professionals to connect and engage with a diverse community of peers, industry leaders, and experts. By participating in our programs, you gain access to an invaluable network that spans across various sectors and geographical boundaries. This networking aspect is not just about forming professional relationships; it's about creating a supportive ecosystem where ideas, opportunities, and collaborations can flourish.
Our courses are designed to challenge and inspire professionals to step out of their comfort zones and explore new horizons. Through a combination of theoretical knowledge and practical application, our programs help professionals refine their existing skills and acquire new ones, making them more versatile and competitive.
# | Job Title | Organisation | Country |
---|---|---|---|
1 | Head of credit control | Nakuru Rural Water & Sanitation Company | Kenya |
2 | TECHNICAL OFFICER DEBT COLLECTION | UGANDA REVENUE AUTHORITY | Uganda |
3 | TECHNICAL OFFICER DEBT COLLECTION | UGANDA REVENUE AUTHORITY | Uganda |
4 | Debt Collection Assistant | Bushra Business Bank | Somalia |
5 | Internal Auditor | Amana Bank | Somalia |