Smart Strategies for Smooth & Successful Debt Collection

13-14 Mar, 2017, Dorsett Kuala Lumpur

Register Now
PDF Brochure

IPA Training is Registered with

Learn from the Best

Venue Details

Dorsett Kuala Lumpur
172 Jalan Imbi, 55100,
Phone : 03 2716 1000
Fax : 03 2715 5000

Click For Hotel Location

Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • Having The Right Mindset
  • Learn From Past Mistakes In Collection
  • Importance Of Getting Prepared
  • Using The Right Method Of Collection
  • Amending Terms Of Payment
  • Handling Objections And Excuses
  • Dealing With Difficult Debtors
  • Basic Negotiation Skills
  • Maintaining Professionalism Through Out Collection Process
OVERVIEW

Importance of debt collection must be well understood by all sales and credit control staff. Inability to collect the outstanding dues not only brings cashflow problems but affects morale of employees in the company.

 

Debt collection techniques need to be acquired and not through reading books alone.

 

Practice makes perfect still rings well. It is important all sales and credit control staff learn the techniques to collect the dues and not taking things for granted.

 

Smart strategies should be used for smooth and successful debt collection.

COURSE OBJECTIVES
  1. Improving debt collection skills of sales and collection staff
  2. Collecting debts promptly and professionally
  3. Ensuring no breakdown in relationship with customers during collection
  4. Achieving company’s goals & objective
WHO SHOULD ATTEND
Collection Staff, Sales and Credit Control Staff and all Front-line Staff involved in debt collection.
METHODOLOGY
Interactive lectures with role plays and team activities. Full participation is needed to make the training successful
 
DAY 1
9:00 HAVING THE RIGHT MINDSET
  • Company’s Interest
  • In Debtor’s Shoes
  • Debts must be collected unlike sales
10:45 LEARN FROM PAST MISTAKES IN COLLECTION
  • Staff taking debts lightly
  • No specific team in handling collection
  • Collection staff not properly trained
  • Using wrong methods and techniques
11:45 IMPORTANCE OF GETTING PREPARED
  • Right method
  • Right timing
  • Right script
1:00 Lunch

2:00 USING THE RIGHT METHOD OF COLLECTION
  • Telephone
  • Face To Face
  • Email
  • Collection Agents
  • Legal Action
3:45 AMENDING TERMS OF PAYMENT
  • Before transaction for new cases
  • Restructuring after several payment failures
  • Study each and every case thoroughly before deciding on amendment
5:00 End of Day 1
DAY 2
9:00 HANDLING OBJECTIONS AND EXCUSES
  • Managing self control
  • Differentiating whether reasons or excuses
  • Acquire the skill in replying - conversation strategies
10:45 DEALING WITH DIFFICULT DEBTORS
  • Control emotions
  • Listening calmly to debtors’ problems
  • Control the conversation
  • Focus on collection and not personalities
  • Using the right script
  • Consult superiors
1:00 Lunch

2:00 BASIC NEGOTIATION SKILLS
  • Focus on negotiation goals
  • Learn to stop professionally when negotiation breaks down
  • Pay attention to issues and not personalities
3:45 MAINTAINING PROFESSIONALISM THROUGH OUT COLLECTION PROCESS
  • Importance of Win Win relationship
  • Using positive words and not negative words
  • Getting prepared with scripts for different scenarios
  • Writing professionally for examples : notices
  • Never threaten debtors
5:00 End of Course
AFTER ATTENDING THIS COURSE,
YOU WILL RETURN TO YOUR JOB…
  1. Improving your debt collection skills.
  2. Developing and customising an effective collection procedure.
  3. Learning how to tolerate and dealing with difficult debtors.
  4. Communicating effectively with debtors.
  5. Avoiding common mistakes in debt collection.