3-Day Training Program on:

Professional

Debt Prevention & Collection Skills/ Techniques

(Collection of Accounts Receivables/ Debt)
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 Whos Who in Training & ranked as the No.1 on all top 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 the last 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 & SE Asia. Objective of the Program
a) To ensure participants are equipped with the necessary skills in Collecting/Minimizing the outstanding, while yet keeping the Customer using a very professional approach. b) To provide a thorough understanding of how bad debt occurs, how to prevent it, and the impact it has on the organization. c) To ensure that the team is equipped with the skills to manage /control/ monitor Collections on a dayto- day basis. d) To equip participants with the skills in understanding the behavior pattern of customers (defaulters), in order to ensure that they fine-tune theirs to that of each customer.

Program Outline:
Collection Skills program on Professional Training Skills for Prevention/Collection of Accounts Receivables/ Debt, would cover the basics in credit & cash flow management right from how bad debt occurs with methods to prevent the same, through the steps of an effective collection call (both on pho ne & face to face) with emphasis on the importance of documentation/ reports/ procedures for systematic followup; including series of letters and general tips for chasing your money too (by encouraging proactive methods!). In brief the 4 HOWs would be covered: HOW bad debt occurs (everyone needs to understand the impact of this on the organization) HOW to prevent (prevention is better than cure!) HOW to collect your money& finally HOW to keep your customer!

OUTLINE OF COURSE CONTENTS Pre -Training Assessment Introduction Qualities & Attributes that can make you a Professional Collector Attitudes in Collection Key Activities & Responsibilities of a Collector Business Cycle (Cash Flow Merry-go round) Slide to Insolvency How money is lost everyday Pareto Principle (80:20 rule) Bad Debt- A major profit leak Major Causes for Bad Debt Why customers dont pay Benefits of paying on time Cost of giving credit Various stages of credit management Assessing creditworthiness of customers Categorizing Customers/Defaulters with specific skills sets to handle each type Importance of Coding customers/ Unique Method of Coding Mode of Collection (methods of payment) Strategy for Collection Implementing the Collection Program Reminder letters & other methods of Chasing Steps to an Effective Collection Call-Phone/Field -Objectives of your Call -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) -The Collection Call (from Approach to Close!) -Your Telephone Voice -Communicating with Confidence -Effective Listening & Obstacles to Listening -Skillful Questioning -Confirming Understanding/Paraphrasing -Being Assertive! -Transition to Payment Arrangement -Overcoming/Handling Customer Excuses/Concerns/ Handling Difficult Customers -Dealing with Difficult Debtors-Common Behavioral traits -Follow-up Case Study: How would you rate this call? Importance & Samples of Different Records/Reports/Procedures Collection reports monitoring Reminder letters/emails & other methods of Chasing: How should they be handled Methods to Track/Monitor & Measure Performances, Documentation Procedures Systematic Follow-up Categorizing Customers/Defaulters with specific skills sets to handle each type General tips for chasing money Compliance requirements Avoiding debtor rights from being violated & adhering to the rules & ethical behavior for Collectors. Stress & Pressures experienced by the Collector. Lessons to be learnt 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. Role-Plays of entire Call Q & A Session Post Training Assessment

The approach will be more of a SEE & REMEMBER, along with DO & UNDERSTAND, using audiovisuals, video clippings at each stage of the call (about 3 videos) , exercises, role-plays, and case studies with finally video clippings on a GOOD & BAD call shown followed by role-plays to ensure that participants are equipped with the necessary skills. Group exercises would be conducted on the following areas: Benefits of paying on time Whats preventing us from collecting our money An exhaustive exercise on the various Excuses/ Objections raised by customers and the professional approach used to handle these. Exhaustive exercise on understanding others better, & how to use this tool in interacting with the internal & external customers, to build long-term relationships. Role Play within groups, (to build on confidence) followed by role plays in front of the audience

Action Plan At the end of the program participants would have learnt to manage credit, using planned preventive measures (the most vital part!), would have learnt to develop a complete systematic collection program, gained confidence in collecting money and have acquired several new ideas f r immediate use, including o taking back an Action Plan which can be put to immediate practice.

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Call: (091) (044) 4353 1000 4353 1300 Mobile: +91 98400 99899 Email: training@CollectionSkills.com Hotline: 091-94440-365Days 24Hrs We service some of the top most names as Clients in India, Middle East & SE Asia names and testimonials of which can be seen on the websites listed below:
Websites: www.FirstContactAcademy.Com www.SalesTrainingIndia.Com www.CollectionSkills.Com www.EtiquetteWorks.in www.ManualPreparation.com