SEMINAR: PRACTICAL CREDIT CONTROL, DEBT COLLECTION & RECOVERY MASTERCLASS OCTOBER 3-4, 2019 | 2 DAYS (NAIROBI)
Greetings!
“Having bumper sales may NOT mean having bumper profits”
Sounds familiar? Very often, the problem is poor credit control and debt collection.
Collecting accounts receivable without having adequate skills of negotiation could mean leaving money on the table.
On the other hand understanding negotiations and not having the required collection skills could reduce performance and recovery rates.
A well trained employee in credit management and debt collection means increased cash conversions, reduced credit risk, optimal resource utilization and great return on investment but many employees find credit control and debt collection frustrating and tough.
This 2 day high impact seminar will provide you with critical, fool-proof techniques that will help your company improve credit management and debt recovery. The workshop helps you to understand the debt collection cycle, precautionary and reactive actions, techniques and mediation in order to collect overdue credit, minimize the risk of bad debts and understand the legal parameters of such activities along with techniques in recovering overdue debts.
A better understanding of the credit assessment policy and its control mechanism, which covers credit evaluation and credit limit review, would lay down a strong foundation to manage your company’s risks to minimize bad debts.
With an abundance of practical and engaging collection and negotiation scenarios the program is tailored to challenge linear thinking that make the lessons practical and lasting. The program is designed in a manner to tutor new collectors and at the same time stands as a refresher for the more experienced.
COURSE FEE AND OPERATIONAL DETAILS
Venue: The Kenya School of Monetary Studies, Nairobi Kenya
Dates: 3rd -4th October 2019
Course Fee: Ksh. 38,200 or USD $ 400 per delegate inclusive of 2 days attendance, buffet meals, teas, seminar kit and taxes.
NITA: Participating organizations can claim reimbursement of fee paid in accordance with NITA Rules.
Pay Scheme: Organizations sponsoring 3 delegates get the 4th to attend free.
Seat Availability: On first come first serve basis
COURSE OUTLINE
KEY TAKEAWAYS: COLLECT DEBTS EFFECTIVELY AND CONFIDENTLY
At the end of this workshop, participants will learn how to:
- Deal with delaying or non-payment excuses and reduce credit exposure of difficult customers effectively
- Collect from financially distressed debtors
- Grasp the importance of strategic importance of credit collection management and commercial/business awareness
- Master the art of collecting debts through phone and the three phases of collection call
- Successfully implement a proactive and practical credit management and debt recovery strategies to address delay/non payments
- Better understand different methods of collection (including negotiation) on debts
- Lay groundwork to make collection efforts produce better results
- Comprehend the legal perspective in debt collections and maximizing debt recovery through ligation procedures
- Write effective letters, faxes and emails that are shorter, clearer and deliver desired results
- Make the right decisions in credit collection and increase your organization’s Return on Investment (ROI)
- Use different debt collection techniques to different situations designed specifically for your customers
MODULE 1: INTRODUCTION
• Credit Management
• Credit Policy
• Its objectives
• Policies and procedures
MODULE 2: POOR MANAGEMENT
• Consequences
• Balancing act
MODULE 3: NEGOTIATION TECHNIQUES
• Type of negotiation
• Characteristic of good negotiator
• Discussion: What mix negotiation styles are you?
• Case Study: How to improve the outcome of your debt collection result?
MODULE 4: EFFECTIVE COLLECTION SKILLS
• Collection Policy
• Right attitude
• Hire right person
• 12 essential techniques
• Telephone Collection skills
• Discussion: How to make your collection calls get results?
• Case Study: The do’s and don’ts of telephone collections
• Reminder letters
• Personal visit
• Post-mortem of bad debts
MODULE 5: CREDIT EVALUATION AND MONITORING
• Introducing credit and its impacts
• Assessment Policy
• Characteristics of credit controller
• Case Study: How to reduce the risk of late payment
MODULE 6: EXPLORE EXTERNAL COLLECTION METHODS
• Outsource to Debt Collection Agencies
• Debt recovery through Legal Proceeding
WHO SHOULD ATTEND
This is a very important Seminar for all personnel who act as
· Credit Controllers, Managers & Supervisors
· Accounts Receivable Officers, Supervisors & Clerks
· Anyone with accounts receivable and credit collection responsibility
· Debt Managers
· Legal Counsel
· Inspection/Audit/Risk Staff
· Accounting Officers
· Financial Administrators
· Office Managers
· Customer Care Department
· Staff Members Willing To Refresh Their Credit Management Skills
· All senior and support staff involved in recoveries/consumer/personal finance; Asset Management Companies(AMC's); Asset Reconstruction Companies(ARC's) among others
METHODOLOGY
- Interactive input & presentation
- Case Studies
- Group Discussions, Q&A (Question and Answer)
- Real-current problematic debt cases will be analysed and scenario solutions will be discussed within the seminar.
A better understanding of the credit assessment policy and its control mechanism, which covers credit evaluation and credit limit review, would lay down a strong foundation to manage your company’s risks to minimize bad debts.
CERTIFICATE
Upon successful completion of this program, participants will receive a Certificate of Achievement.
RAVING TESTIMONIALS
“The seminar has given me a better understanding on how to evaluate & manage credit using the different tools & techniques available. The section on collecting debts through the phone & legal avenues were of particular interest to me.” Credit Control Officer, Michael Muciri
“I got to learn what I needed which is the strategies and effectiveness of debt collection. It also helped me to have a better appreciation of the work & effort put in by my staff in the debt recovery process.” Credit Manager, Janet Moraa
“After the course, I now see the importance of credit control to a company. I learned about strategies of collection through this training and all areas covered were great.” Accountant, Cedric Angwenyi
Limited slots are available for this Event, Book Early.
For more information on participation, contact Catherine.
Looking forward to hearing from you.
Best regards,
Catherine Wanja,
Delight Africa Ltd,
Dev Towers - 4th Floor, Suite 4A
Biashara Street, CBD Nairobi
P.O. Box 12269 - 00100, Nairobi Kenya
Land line: +254 722 533 771 (or) +254 700 221 221
Fax : 020 222 54 39
WhatsApp : +254 729 236 920
*‘**Promoting Professionalism in Corporate Training**’*
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