Dear all,
RE: Debt Collection and Credit Management
FineResults Research Services would like to invite you to high impact training on Debt Collection and Credit Management course to be held in Nairobi from 20th-24th April 2020.
COURSE PROFILE
Course Name: Debt Collection and Credit Management
Date: 20th-24th April, 2020
Duration: 5 Days
Venue: FineResults Research Training Centre, Nairobi, Kenya
Cost: USD 800
Online Registration : REGISTER HERE
TEL : +254 732 776 700/ +254 759 285 295
INTRODUCTION
Debt management is the process of establishing and executing a strategy for managing debt in order to realize the initially expected revenue. This helps in reducing organizational financial risks while meeting the required cost objectives and other debt management goals. This course provides an overview of debt and credit management by explaining concepts in a user-friendly language, avoiding mathematics and using simple illustrations and practical examples.
DURATION
5 Days
COURSE OBJECTIVES
Upon completion of this training course, participants will be able to:
Communicate with a creditor 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.
Implement effective debt collecting strategies according to the code of conduct.
COURSE OUTLINE
Module 1 :
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 2 :
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 3 :
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 4 :
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 5 :
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
TRAINING CUSTOMIZATION
This training can also be customized for your institution upon request. You can also have it delivered your preferred location.
For further inquiries, please contact us through Mobile: +254 732 776 700 or Email: [email protected]
REQUIREMENTS
Participants should be reasonably proficient in English. During the trainings, participants should come with their own laptops.
TRAINING FEE
The course fee covers the course tuition, training materials, two break refreshments, lunch, and study visits.
ACCOMMODATION
Accommodation is arranged upon request. For reservations contact us through Mobile: +254732776700
or Email: [email protected]
PAYMENT
Payment should be transferred to FineResults Research Limited bank before commencement of training. Send proof of payment through the email: [email protected]
CANCELLATION POLICY
All requests for cancellations must be received in writing.
Changes will become effective on the date of written confirmation being received.
Contact information
Email: [email protected]
TEL: +254 732 776 700/ +254 759 285 295