Debt collection plays an essential role in any business. All personnel - be they accounts receivables, credit control, sales & marketing staff or even business owners themselves - who are involved in debt collection must be trained to assess the chance of recovery within the first few minutes into the conversation with the debtor. More importantly, to preserve a good business relationship, they must be diplomatic, tactful and well-versed in psychological concepts. Legal action is often the last resort as it is not only costly but also time-consuming.
The Effective Credit Control & Debt Recovery workshop will impart skills to help companies minimise bad debts and improve profits through the use of a simple collection tool: the telephone. The workshop is case-based, interactive and highly practical.
- Effective credit assessment & risk evaluation: assessing credit worthiness of individuals, evaluating corporate risks
- Credit information & investigation techniques: practical aspects of financial analysis in credit evaluation, types of financial statements & their limitations, financial analysis techniques
- Understanding the factors influencing credit decisions & the pitfalls involved
- Developing effective collection systems & procedures
- The art of collecting debts through the phone: planning your strategy to get results, making routine calls, using the language of the trade
- What went wrong - useful lessons for staff involved in collection
- Highlights of the legal perspective in debt collection: legal rights, garnishee order, writ of summon & sale
- Negotiation for a settlement
- Collection tools & techniques: do's & don'ts, use of collection agencies
- Laying the groundwork to make collection efforts produce results: sourcing vital information, personality assessment, documents review, developing collection strategy
- How to deal with delay tactics & reduce credit exposure of difficult customers: types of delay tactics often employed, handling special situations, precautions to take when collecting payment, third-party intervention
- Collecting from financially distressed debtors: identifying delinquent accounts, sizing up the problem, reaching a compromise
- Reporting & convicting a debtor of a criminal offence: cheating, breach of trust, misappropriation, dishonesty in receiving stolen goods, conviction & disposal enquiries
- Enforcement of judgment obtained
Complete registration form below and submit.
Look out for confirmation email with soft copy invoice.
Remit payment by cheque, bank transfer or cash to TAKX Solutions Pte Ltd.
Look out for reminder email closer to workshop date.