Debt Collection Training

Financial Management Training: Effective Debt Collection Strategies for Business Profitability Debt Collection Training
By Knowledge Hub Asia
PSMB HRDF Claimable
Course Title:
Effective Debt Collection Strategies for Business Profitability
Training Category:
Business Management › Financial Management
Target Audience:
Debt collectors, account assistants, sales people, executives and manager/team leaders who are involved in debt collection.
Duration:
1 Day
Public Program* Now Available! »
Jan 2017 ›
Venue:
Menara PKNS, Petaling Jaya, Malaysia
Schedule:
Mon 23 Jan 2017 9:00AM - 5:00PM
Fee Per Person:
RM1,000.00
(Fee Inclusive GST)
Promotions:
  • Please call for Discounts & Promotions.
Register Now!

* Other terms & conditions apply.
May 2017 ›
Venue:
Menara PKNS, Petaling Jaya, Malaysia
Schedule:
Wed 24 May 2017 9:00AM - 5:00PM
Fee Per Person:
RM1,000.00
(Fee Inclusive GST)
Promotions:
  • Please call for Discounts & Promotions.
Register Now!

* Other terms & conditions apply.
For In-house Training »
Request for Quotation Request for Quotation
For Customization & Other Inquiries »
Contact Knowledge Hub Asia
Contact customer service +6012-266-2728
Email customer service [email protected]
Delivery Methods
  • Language: English
  • PowerPoint Presentation
  • Workshop
  • Group Discussion
  • Presentation Handouts
  • Video Presentation
  • Lecture
  • Case Studies
  • Certificate of Participation
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*Terms & Conditions

Financial Management:
Effective Debt Collection Strategies for Business Profitability

Introduction

No business wants to turn good customers away. But identifying ones that are credit worthy and / or offer an acceptable amount of risk is not always easy. Today's highly changeable economic climate demands a deeper understanding of a customer's current and future ability to pay credit risks.

Businesses must have a clearly formulated credit and collection policy if they want to be paid promptly for their products and services.

Collecting payment is not a task which can be carried out effectively by just anybody. Collectors have to be trained and must understand the nature of the job.

Therefore, it is essential that staff responsible for debt collection be trained and have a proper understanding of the role of debt collection.

Course Objectives

  • Understand the meaning of Profitable Business
  • Collecting Debts while keeping your customer happy
  • Effective Communication Skill
  • How to analyse and grand credit to your potential customer
  • Effective tips on debts collection

Course Outline

D A Y  1

Effective Credit Management

  • Purpose of Credit Policy
  • Cost of having credit to customer
  • Methods of assessing Credit Risk
  • Assessment based on 5 C
  • How to develop a Credit Rating System
  • How to Determine net worth of the company

Credit Information And Control System

  • Assessment by quantitative technique
  • Statutory Financial Statement
  • Steps to take before approving limit and delivery
  • Extra Financing to fund additional Debtor and impact on Income Statement

Debt Collection And Recovery Technique

  • Telephone collection
  • Statement of Account, Reminders, Letter of Demand
  • Aged Debtor List
  • Establishing procedure for overdue debt - use outside agencies
  • Legal Proceeding
  • Outsourcing of Account Receivable functions

Pitfall To Avoid In Debt Collection

  • Poor Documentation
  • Ambiguous Sales and Condition
  • Third Party Transaction
  • Do not follow the Credit Term and Rules
  • Underestimate the Risk of granting credit to foreign customer

For In-house Training:

Request for Quotation

Request for Quotation Now

For Content Customization & Other Inquiries:

Contact Knowledge Hub Asia

Contact Customer Service

+6012-266-2728

Email Customer Service [email protected]

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