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‘Professional Debt Collection Techniques’
                     Techniques to Prevent & Collect Outstanding Receivables
Professional Debt          Collection Techniques
                             Techniques to Prevent & Collect Outstanding Receivables


     Collect your Outstanding Dues with our 2 Day Training on:



                    Professional Debt Collection Techniques
                                   (Techniques to Prevent & Collect Outstanding Receivables)



Facilitated by Leading Corporate Trainer: Gerard Assey, CMC, FInstSMM (UK)

             Websites:
                                                       If you have 8 or more personnel,
           www.Sales-Training.in                       this session could be tailor-made &
           www.CollectionSkills.com                    conducted at your premises or
           www.SalesTrainingIndia.com                  venue of choice
Professional Debt           Collection Techniques
                               Techniques to Prevent & Collect Outstanding Receivables

About Us :

‘Collection Skills’- a leading Training Provider & the only one in this part of the world to be
listed in the ‘Collections & Credit Risk Magazine’ under ‘Who’s Who in Training’ & ranked TOP
on most search engines.
‘Collection Skills’- as the name says, specializes in conducting Professional Training
Programs for the industry in ‘Prevention & Collection of Debt’ and has been regularly doing so
for over 10 years serving customers from a diverse range of industries, with an impressive list
of some of the top most names in India, Middle East, Africa & SE Asia.
Right now, with cash tight and business slowing down, banks need to go after the bad debts like
never before. They need to go after the receivables even it if means getting just something now!
Like all significant economic change, it creates opportunities for those who have it in them to
deal with it. During economic downturns, one of the main reasons why businesses go under is
because they run out of cash. However sound your business is in other ways, successful Cash
Flow Management should be the main priority.
Professional Debt            Collection Techniques
                                Techniques to Prevent & Collect Outstanding Receivables

About Us :

A recent study on the growing sickness in industries and businesses reveals that BAD DEBT is
the one major cause for bankruptcy. In a buoyant economy, selling on credit has a number of
advantages, especially when it generates a larger volume of business as well as widens one's
market share. In fact, selling on credit often 'Makes' or 'Breaks' a sale and at most times gives
one that edge over competition. Yet, one cannot afford to take this area of credit control lightly,
as too many companies everyday are mounting with debts that are increasingly doubtful of
recovery
Has it ever occurred? …That before the customer buys your goods both are interested - he in
your goods and you in his money, but once he gets the goods he is no more interested. It's only
you (for your money!). A company can have the finest product, a superb sales record and the
most dedicated workforce, but if it does not get paid (.... and on time!) it will die. An unpaid debt
Professional Debt           Collection Techniques
                              Techniques to Prevent & Collect Outstanding Receivables

About Us :

is a loan being financed by your company - it means that many companies are prevented from
achieving their full potential, because instead of using borrowed money to develop and grow
their business, they are having to borrow money just to fund their own sales ledgers - with the
most precarious risk to a company's profit on the sale being the interest expense from non-
payment on time.




 Managing credit and collecting money therefore are the 2 most important
         and vital factors which decide the fate of any business
Professional Debt        Collection Techniques
                           Techniques to Prevent & Collect Outstanding Receivables

Objective of the Program:

  To ensure participants are equipped with the necessary skills                      in
  Collecting/Minimizing the outstanding, while yet keeping the Customer.

  To provide a thorough understanding of how bad debt occurs, the impact it has
  on the organization & how the prevent it (the most vital part!).

  To equip participants with the skills in understanding the behavior pattern of
  customers, (beginning by understanding their pattern), in order to ensure that
  they fine-tune theirs to that of each customer.
  To ensure that the team is equipped with the skills to manage /control/ monitor
  Collections on a day- to- day basis.
Professional Debt        Collection Techniques
                           Techniques to Prevent & Collect Outstanding Receivables

Target Participants:
  A must for anyone involved in collecting money: Managers & Executives in
  Collections, Credit Control, Sales, Finance, Internal Audit & Customer Service,
  at all levels, (right from top down to the front line) will find this program
  extremely beneficial
Program Outline:

  ‘Collection Skills’ program on ‘Professional Training Skills for Collection of Bad
  Debt’, would cover the basics in credit & cash flow management right from how
  bad debt occurs, through the steps of an effective collection call (both on
  phone & face to face) with emphasis on the importance of documentation/
  reports/ procedures for systematic follow-up; including series of letters and
  general tips for chasing your money too (by encouraging proactive methods!).
Professional Debt         Collection Techniques
                           Techniques to Prevent & Collect Outstanding Receivables

Detailed Program Outline:

         Part A
         qIntroduction
         qBusiness Cycle (Cash Flow Merry-go –round)
         qSlide to Insolvency
         qHow money is lost everyday
         qPareto Principle (80:20 rule)
         qBad Debt- A major profit leak
         qMajor Causes for Bad Debt
         qDanger/ Warning Signs that can alert u!
         qWhy Customers don’t pay
         qBenefits of paying on time
Professional Debt          Collection Techniques
                           Techniques to Prevent & Collect Outstanding Receivables

Detailed Program Outline:

         Part B
         q   Qualities & Attributes that can make you a Professional Collector
         q   Key Activities & Responsibilities of a Collector
         q   Strategy & Implementing the Collection Program
         q   Steps to an Effective Collection Call
         q   Objectives of your Call
         q   Pre-Call Planning /Importance of Preparation
             (Physical, Mental, Voice, Tools, Client information: Past History,
             Assessing Intent/ Ability to pay, Market/ Industry/ Competition
             Analysis/ Situation, Call Strategy)
Professional Debt         Collection Techniques
                          Techniques to Prevent & Collect Outstanding Receivables

Detailed Program Outline:

         Part B
         q   The Collection Call -Approach/ Control/ Follow-up
              oApproach-When, Where & How to contact customers
                   •Opening your Call: What to say
              oFact-finding
                   •Communicating with Confidence
                   •Effective Listening & Obstacles to Listening
                   •Skillful Questioning Use of Open-ended questions
                   •Confirming Understanding/Paraphrasing
                   •Being Assertive!
              oBridge to Payment Plan-Transition statements
              oPrinciples of Negotiation
                   •Types of Negotiation
Professional Debt          Collection Techniques
                            Techniques to Prevent & Collect Outstanding Receivables

Detailed Program Outline:

         Part B
                     •Benefits/Uses of Negotiating
                     •Variables in Negotiating
                     •Power to influence Negotiation
                     •Key Essential Rules in Negotiating
                     •Tactics of Negotiating
               oThe Payment Plan
               oOvercoming/Handling Problematic/ Difficult Customers
               oThe Close
               oFollow-up
         q Understanding yourself, to be able to understand others better, &
         how to use this tool in interacting with customers as partners, to build
         long-term relationships.
Professional Debt         Collection Techniques
                          Techniques to Prevent & Collect Outstanding Receivables

Detailed Program Outline:

         Part C
          qBack-end Systems & Procedures
          qReminder letters/emails & other methods of Chasing: How should they
          be handled
          qImportance & Samples of Different Records/Reports/Procedures
          qMethods to Track/Monitor & Measure Performances, Documentation
          Procedures Systematic Follow-up
          qCategorizing Customers/Defaulters with specific skills sets to handle
          each type
          qImportance of Coding Customers/ Unique Method of Coding
          qGeneral tips for chasing money (by encouraging proactive methods!)
Professional Debt         Collection Techniques
                           Techniques to Prevent & Collect Outstanding Receivables

Detailed Program Outline:

         Part D
         qCoping with Stress & Pressures experienced by the Collector
         qCompliance requirements
         qAvoiding debtor rights from being violated & adhering to the rules &
         ethical behavior for Collectors.
         qManaging your time/ Prioritizing
         qVideo clippings of Good/ Bad call
         qRole-Plays of entire Call
         qQ & A Session
Professional Debt        Collection Techniques
                          Techniques to Prevent & Collect Outstanding Receivables




Action Plan:

  At the end of the program participants would have learnt to manage credit, and
  would have learnt to develop a complete systematic collection program, gained
  confidence in collecting money and have acquired several new ideas for
  immediate use, including taking back an Action Plan which can be put to
  immediate practice.
Professional Debt              Collection Techniques
                                 Techniques to Prevent & Collect Outstanding Receivables

Program Methodology:

  Using a combination of SEE & REMEMBER, along with DO & UNDERSTAND, supported
  by audio-visuals, video clippings/movies, exercises & role-plays, providing everyone an
  opportunity to experience & practice the skills throughout the session, the program could
  be specifically tailor-made to suit any exact need.



  üAt every important stage of the call, video clippings would be played to reinstate a point.
  üAt the end of the session, video clippings on a ‘GOOD’ & ‘BAD’ call would be shown followed by
  role-plays to ensure that participants are fully equipped
  üAn exhaustive exercise on the various Excuses/ Objections raised by customers and the
  professional approach used to handle these.
  üAn exercise on understanding the behavior pattern of Customers, & how to use this tool in
  interacting with the internal & external customers, to build long-term relationships
Professional Debt     Collection Techniques
                        Techniques to Prevent & Collect Outstanding Receivables


Testimonials:




   “Very very interesting
     “Valuable delivered
       “Gerard pieces of
  course…very practical &
  advice…very good, step
     from his heart…well
lively structured for our a
       course…A must for
      by step, organized
        professional”
     course, that I would
             job!”
    highly recommend..!”
Professional Debt          Collection Techniques
                          Techniques to Prevent & Collect Outstanding Receivables

 Phone:                    Hotline:                     Email:
 (091-44) 43531000         +91 94440 365(days)24(hrs)   Training@SalesTraining.in,
  (091-44) 43531300                                     Training@CollectionSkills.com
                           Mobile:
                           +91 98400 99899              Training@SalesTrainingIndia.com,


We service some of the top most names as Clients in India, Middle East , Africa & SE
 Asia…names and testimonials of which can be seen on the websites listed below:

       Websites:
       www.Sales-Training.in
       www.EtiquetteWorks.in
       www.CollectionSkills.com
       www.RetailSalesTraining.in
       www.SalesTrainingIndia.com
       www.ManualPreparation.com
       www.FirstContactAcademy.com

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Debt collection skills & techniques

  • 1. ‘Professional Debt Collection Techniques’ Techniques to Prevent & Collect Outstanding Receivables
  • 2. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Collect your Outstanding Dues with our 2 Day Training on: Professional Debt Collection Techniques (Techniques to Prevent & Collect Outstanding Receivables) Facilitated by Leading Corporate Trainer: Gerard Assey, CMC, FInstSMM (UK) Websites: If you have 8 or more personnel, www.Sales-Training.in this session could be tailor-made & www.CollectionSkills.com conducted at your premises or www.SalesTrainingIndia.com venue of choice
  • 3. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables About Us : ‘Collection Skills’- a leading Training Provider & the only one in this part of the world to be listed in the ‘Collections & Credit Risk Magazine’ under ‘Who’s Who in Training’ & ranked TOP on most search engines. ‘Collection Skills’- as the name says, specializes in conducting Professional Training Programs for the industry in ‘Prevention & Collection of Debt’ and has been regularly doing so for over 10 years serving customers from a diverse range of industries, with an impressive list of some of the top most names in India, Middle East, Africa & SE Asia. Right now, with cash tight and business slowing down, banks need to go after the bad debts like never before. They need to go after the receivables even it if means getting just something now! Like all significant economic change, it creates opportunities for those who have it in them to deal with it. During economic downturns, one of the main reasons why businesses go under is because they run out of cash. However sound your business is in other ways, successful Cash Flow Management should be the main priority.
  • 4. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables About Us : A recent study on the growing sickness in industries and businesses reveals that BAD DEBT is the one major cause for bankruptcy. In a buoyant economy, selling on credit has a number of advantages, especially when it generates a larger volume of business as well as widens one's market share. In fact, selling on credit often 'Makes' or 'Breaks' a sale and at most times gives one that edge over competition. Yet, one cannot afford to take this area of credit control lightly, as too many companies everyday are mounting with debts that are increasingly doubtful of recovery Has it ever occurred? …That before the customer buys your goods both are interested - he in your goods and you in his money, but once he gets the goods he is no more interested. It's only you (for your money!). A company can have the finest product, a superb sales record and the most dedicated workforce, but if it does not get paid (.... and on time!) it will die. An unpaid debt
  • 5. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables About Us : is a loan being financed by your company - it means that many companies are prevented from achieving their full potential, because instead of using borrowed money to develop and grow their business, they are having to borrow money just to fund their own sales ledgers - with the most precarious risk to a company's profit on the sale being the interest expense from non- payment on time. Managing credit and collecting money therefore are the 2 most important and vital factors which decide the fate of any business
  • 6. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Objective of the Program: To ensure participants are equipped with the necessary skills in Collecting/Minimizing the outstanding, while yet keeping the Customer. To provide a thorough understanding of how bad debt occurs, the impact it has on the organization & how the prevent it (the most vital part!). To equip participants with the skills in understanding the behavior pattern of customers, (beginning by understanding their pattern), in order to ensure that they fine-tune theirs to that of each customer. To ensure that the team is equipped with the skills to manage /control/ monitor Collections on a day- to- day basis.
  • 7. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Target Participants: A must for anyone involved in collecting money: Managers & Executives in Collections, Credit Control, Sales, Finance, Internal Audit & Customer Service, at all levels, (right from top down to the front line) will find this program extremely beneficial Program Outline: ‘Collection Skills’ program on ‘Professional Training Skills for Collection of Bad Debt’, would cover the basics in credit & cash flow management right from how bad debt occurs, through the steps of an effective collection call (both on phone & face to face) with emphasis on the importance of documentation/ reports/ procedures for systematic follow-up; including series of letters and general tips for chasing your money too (by encouraging proactive methods!).
  • 8. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Detailed Program Outline: Part A qIntroduction qBusiness Cycle (Cash Flow Merry-go –round) qSlide to Insolvency qHow money is lost everyday qPareto Principle (80:20 rule) qBad Debt- A major profit leak qMajor Causes for Bad Debt qDanger/ Warning Signs that can alert u! qWhy Customers don’t pay qBenefits of paying on time
  • 9. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Detailed Program Outline: Part B q Qualities & Attributes that can make you a Professional Collector q Key Activities & Responsibilities of a Collector q Strategy & Implementing the Collection Program q Steps to an Effective Collection Call q Objectives of your Call q Pre-Call Planning /Importance of Preparation (Physical, Mental, Voice, Tools, Client information: Past History, Assessing Intent/ Ability to pay, Market/ Industry/ Competition Analysis/ Situation, Call Strategy)
  • 10. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Detailed Program Outline: Part B q The Collection Call -Approach/ Control/ Follow-up oApproach-When, Where & How to contact customers •Opening your Call: What to say oFact-finding •Communicating with Confidence •Effective Listening & Obstacles to Listening •Skillful Questioning Use of Open-ended questions •Confirming Understanding/Paraphrasing •Being Assertive! oBridge to Payment Plan-Transition statements oPrinciples of Negotiation •Types of Negotiation
  • 11. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Detailed Program Outline: Part B •Benefits/Uses of Negotiating •Variables in Negotiating •Power to influence Negotiation •Key Essential Rules in Negotiating •Tactics of Negotiating oThe Payment Plan oOvercoming/Handling Problematic/ Difficult Customers oThe Close oFollow-up q Understanding yourself, to be able to understand others better, & how to use this tool in interacting with customers as partners, to build long-term relationships.
  • 12. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Detailed Program Outline: Part C qBack-end Systems & Procedures qReminder letters/emails & other methods of Chasing: How should they be handled qImportance & Samples of Different Records/Reports/Procedures qMethods to Track/Monitor & Measure Performances, Documentation Procedures Systematic Follow-up qCategorizing Customers/Defaulters with specific skills sets to handle each type qImportance of Coding Customers/ Unique Method of Coding qGeneral tips for chasing money (by encouraging proactive methods!)
  • 13. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Detailed Program Outline: Part D qCoping with Stress & Pressures experienced by the Collector qCompliance requirements qAvoiding debtor rights from being violated & adhering to the rules & ethical behavior for Collectors. qManaging your time/ Prioritizing qVideo clippings of Good/ Bad call qRole-Plays of entire Call qQ & A Session
  • 14. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Action Plan: At the end of the program participants would have learnt to manage credit, and would have learnt to develop a complete systematic collection program, gained confidence in collecting money and have acquired several new ideas for immediate use, including taking back an Action Plan which can be put to immediate practice.
  • 15. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Program Methodology: Using a combination of SEE & REMEMBER, along with DO & UNDERSTAND, supported by audio-visuals, video clippings/movies, exercises & role-plays, providing everyone an opportunity to experience & practice the skills throughout the session, the program could be specifically tailor-made to suit any exact need. üAt every important stage of the call, video clippings would be played to reinstate a point. üAt the end of the session, video clippings on a ‘GOOD’ & ‘BAD’ call would be shown followed by role-plays to ensure that participants are fully equipped üAn exhaustive exercise on the various Excuses/ Objections raised by customers and the professional approach used to handle these. üAn exercise on understanding the behavior pattern of Customers, & how to use this tool in interacting with the internal & external customers, to build long-term relationships
  • 16. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Testimonials: “Very very interesting “Valuable delivered “Gerard pieces of course…very practical & advice…very good, step from his heart…well lively structured for our a course…A must for by step, organized professional” course, that I would job!” highly recommend..!”
  • 17. Professional Debt Collection Techniques Techniques to Prevent & Collect Outstanding Receivables Phone: Hotline: Email: (091-44) 43531000 +91 94440 365(days)24(hrs) Training@SalesTraining.in, (091-44) 43531300 Training@CollectionSkills.com Mobile: +91 98400 99899 Training@SalesTrainingIndia.com, We service some of the top most names as Clients in India, Middle East , Africa & SE Asia…names and testimonials of which can be seen on the websites listed below: Websites: www.Sales-Training.in www.EtiquetteWorks.in www.CollectionSkills.com www.RetailSalesTraining.in www.SalesTrainingIndia.com www.ManualPreparation.com www.FirstContactAcademy.com