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(MC) Effective Debt Collection Strategies – The Collection Communication

28-29 Nov, 2022, Remote Online Training - Public

IPA Training is Registered with

Venue Details

Remote Online Training - Public


Contact us

FOR COURSE DETAILS

Juliany,

Office: 03 2283 6109

Mobile: +60 122281247

juliany@ipa.com.my

Phoebe,

Office: 03 2283 6100

Mobile: +60 193637822

phoebe@ipa.com.my

Bee Teng,

Office: 03 2282 6112

Mobile: +60 172566121

beeteng@ipa.com.my

FOR CUSTOMISED IN-HOUSE TRAINING

Jane,

Office: 03 2283 6101

Mobile: +60 129418251

jane@ipa.com.my

Keith,

Office: 03 2283 0000

Mobile: +60 162272735

keith@ipa.com.my

ADDRESS

A-28-5, 28th Floor, Menara UOA Bangsar,
No.5, Jalan Bangsar Utama 1,
59000 Kuala Lumpur

FOCUSING ON
  • Module 1: Strategies to Reduce Debts
  • Module 2: Burning Issues in Debt Recovery
  • Module 3: How to Deal with Different Type of Difficulty Customers
  • Module 4: Be Flexible, Creative & Think Out of The Box Approach
  • Module 5: Collection Negotiation Tactics
  • Module 6: Put Your House in Order
  • Module 7: Collection Case Studies
  • Module 8: Legal Procedure


SPECIAL FEATURE: Participants Will Receive a Set of Practical Templates suitable for all sectors.

INTRODUCTION

To Reduce Debts and have collection recovery, you need to have the heart of an entrepreneur.

This course will help to provide you with an environment that stimulates proactive behavior to achieve greater goals for yourselves and your organization.

By creating value for your organization, you will be amazed at the speed of career advancement. Real-current problematic debt cases will be analyzed, and scenario solutions will be provided under the guidance of Dr. Steven Liew.

COURSE LEARNING OUTCOMES (CLO)
  1. Know the negotiation techniques
  2. Profile Your Customers
  3. Outline practical debt recovery approaches
  4. Understand Legal Debt Recovery Strategies
  5. Understand Bankruptcy (Amendment) Act 2017
  6. Explain ways in dealing with difficulty customers via telephone
  7. Present collection skills via telephone
  8. Perform credit evaluation and monitoring
  9. Case Studies & Group Discussion
WHO SHOULD ATTEND
Business Managers, Marketing Managers, Collection Executives, Sales Executives, Finance Executives, Supervisors, Managers, Credit Analysts, Credit Controller & Recovery Officers.
METHODOLOGY

Interactive Lectures, Case Study and Group Discussion. Real-Current Problematic Debt Cases will be Analyzed, and Scenario Solutions will be Discussed within the course.

Special Feature: Participants Will Receive a Set of Practical Templates suitable for all sectors. These templates:

  • Ease in planning, reporting & decision-making process
  • Snapshot of overall issues & problem
  • Financial modeling using goal seek strategies for cash flow, profit, sales target, budgeting & working capital requirements.

DAY 1
9:00

MODULE 1: STRATEGIES TO REDUCE DEBTS 

  • Know your customers
  • Plan your site visit
  • Focus on collectable & big customers
  • Lead by example
  • Be flexible, creative & think out of the box (ways & means to speed up the collection process)
  • Recovery techniques (outsourcing, insourcing, legal, asset conversion, take over, revaluation)
  • Put your house in order (credit evaluation 7cs, management support & involvement, clear SOP & strong credit manpower team, strong tracking systems)
  • Consider collection risk model (cost & benefit analysis)
  • Develop qualities of effective collectors


 

10.45

MODULE 2: BURNING ISSUES IN DEBT RECOVERY

  • Uncontactable/Missing customers
  • Contactable-but can’t afford to pay
  • Avoid payment with thousand reasons
  • Interference from top management on collection section
  • Customer delay payment purposely
  • Incomplete document
  • Financial /Cash flow problem
1:00 Lunch
2:00

MODULE 3: HOW TO DEAL WITH DIFFERENT TYPE OF DIFFICULTY CUSTOMERS

  • Give empty promises
  • Avoiding
  • Giving thousand excuses
  • Annoying attitude

3:45

MODULE 4: BE FLEXIBLE, CREATIVE & THINK OUT OF THE BOX APPROACH

  • Outsourcing (collection agency)
  • Insourcing (staff incentive)
  • Asset conversion
  • Business Take over
  • Revaluation of assets

5:00 End of Day 1
DAY 2
9:00

MODULE 5: COLLECTION NEGOTIATION TACTICS

  • The building block technique
  • Silence
  • Repeat, repeat…
  • Recess
  • Divide & rule
  • Empathy
  • Re-escalation of demand
  • “One more thing”
  • Deadlines
  • Slicing


 

10.45

MODULE 6: PUT YOUR HOUSE IN ORDER 

  • Outsourcing The Services
  • Provide Consultancy Service
  • Analyse Strategic Decision

1:00 Lunch
2:00

MODULE 7: COLLECTION CASE STUDIES  

  • Case Study 1 (Negotiation Skill)
  • Case Study 2 (Credit Evaluation)
  • Case Study 3 (Handling Difficulty Debtor)
  • Case Study 4 (Bank Branch Manager Task)
  • Case Study 5 (Head of Credit Controller Task)
  • Case Study 6 (Dealing with NPL borrowers)
  • Case Study 7 (Detecting early warning sign)
  • Case Study 8 (Government Accounts)

3:45

  MODULE 8: LEGAL PROCEDURE   

  • What to Do Before Litigation
  • Contents of Letter of Demand
  • Factors to Consider Before Suing
  • Preparation for Suing
  • Preparation for Trial
  • Enforcement of Judgments

5:00 End of Course