2 days Workshop
INTRODUCTION
This is a highly practical & relevant workshop for whose those are serious in debt recovery. Much life testimony on debt recovery will be imparted to you. Proven Strategies on how to write back your bad debts provision will be shared as well
Course Objectives
By the end of this course you will be able to:
Understanding Negotiation Techniques
Profiling Your Customers
Use Practical Debt Recovery Approaches
Understand Legal Debt Recovery Strategies
Know When To Initiate Legal Actions
Reducing your receivable outstanding balance
Laid a strong front end evaluation to select quality customers
METHODOLOGY
Life Case Study & Group Discussion. Real-current problematic debt cases will be analyzed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
CEO, CFO, Legal Managers, Chief Accountants, Accountants, Marketing Managers, legal Managers, Collection Executives, Finance Executives, Supervisors, Credit Analysts, Credit Controller & Recovery Officers & all professional seeking to improve their collection skills
Special Feature: NOTE: Please bring laptop along
PROGRAMME OUTLINE
Day 1
Module 1: Discussion of debt recovery
What are the Burning issues of debt recovery?
Evaluate the most appropriate debt Negotiation’s Style
Discuss the Strategies to Negotiate Debt
Module 2: Profiling Customers
How to do profiling & handling difficulty customers?
Module 3: Financial Ratios & Credit Evaluation Analysis (Predicting Business Failure)
Learn how to size up a company quickly by reading their financial ratios
Liquidity
Solvency
Efficiency
Profitability
Asset Management
Assessing drivers of company profitability and growth: -
Operations and investment strategies: operating and investment management
Measuring the 'Fiscal-Fitness' of a company: The Altman Z-Score
Credit Evaluation & Monitoring
Importance of Credit Evaluation & Monitoring
Criteria for Approval or Rejection
Setting the Credit Limit
Monitoring Customer Account
Group exercises
Module 4: Recovery Strategies
Why & when External Outsourcing to Collection Agencies
Why & when Internal Outsourcing to Staff
Why & When Should & should Not Take Legal Action
Day 2
Module 5: Legal documentation
Discuss the Key Legal Aspects of Credit Management and Debt Recovery
Module 6: Apply Comprehensive Company Wide Collection Risk Model (Case Study)
Potential risk
Quantify Collection impact
Review Pre-mitigation (Collection impact)
Mitigating Collection strategies & controls
Post Mitigation (collection impact)
Quantify Financial Collection improvement
Quantify possible Cost increase in collection strategies
Quantify Cost/benefit Benefit in post collection mitigation strategies
Decision Summary recommended
Calculate ROI
Ranking (priorities collection efforts)
Module 7: Thinking Out of Box Collection Strategies
Negotiation
Monitoring
Collection
Outsourcing
Revaluation
Legal
Module 8: Application
Planning
Identify all the collection burning issues &
Identify all the solutions or alternative plans
Identify the KPI to the solutions
Execution
Identified Person in Charge (PIC) to achieve the Collection KPI
Put in place a Monitoring Program
Evaluation
Identified all the challenges/barriers faced by the PIC
Removing the barriers by providing action plan