Effective Debt Collection & Credit Management
Details
Do you know the impact of late payments or bad debts on your organisation’s profitability and cash flow?
Do you know how vital the credit control and debt collection team's role is to ensure your business continuity?
Many times, companies go into financial difficulties because of the inability to collect outstanding payments from poorly constructed agreements and a lack of information on the legal options available for a resolution. This results in overdue payments and cash flow shortage.
If your business grants credit to clients and vendors, this workshop is important for you to practice a proactive approach to prevent payment issues by learning to establish correct policies, controls, and commercial awareness throughout your organization.
Timely payment collection is an important part of your overall business.
This practice promotes good cash flow, minimize gearing and bad debts, and maximizing profits.
In this workshop, the facilitator hopes to share his 37 years of practical experience in credit management i.e. credit assessment and recovery, the two important components that would outline how to carry out the roles, functions and responsibilities appropriately to cope with the pressures, within or outside your organization, in handling professionally issues related to debt collection and ensure the company stays on course to achieving its goals.
Outline
Introduction
Setting Expectations
• What do you expect to learn from this course?
Credit Management
• Its purpose & objectives
• Policies and procedures
Important of credit assessment
• Credit Assessment Policy
• Establishing Creditworthiness
Opening New Account
 Basic Information Source
 In-dept Information Source
 Credit Visits
o Credit Limit
o Credit Term
• Credit Limit Review
The C’s of business credit
• What are the C’s of business credit?
Credit Rating
• What is Credit Rating?
Prioritize debts recovery
• Unless we prioritize recovering debts, it will go down as a result of poor debt recovery management
o Collection Policy
o Right attitude for Collection
o Negotiation Techniques
o Hire right person
o Build Customer Relationships
o The techniques
o Telephone Collection Skills
o Reminder letters
o Site visits
o What went wrong?
Case Study
• How to reduce the risk of late payment
Explore external collection methods
• Outsource to Debt Collection Agencies
• Debt recovery through Legal Proceeding
05.00 pm End of Training Session
Speaker/s
Master of Science in Technology Management, University of Staffordshire (UK)
Bachelor in Business and Administration, University of South Australia (Australia)
Executive Diploma in Management, University of Malaya (Malaysia).
B H Soo has been involved in the area of Credit Management for the past 35 years, with the last 30 years in the management team. Trained by Americans and worked his way up, ‘rank and file’, and his working experience in various industries, together with 5 years in the Sales, he had accumulated vast, hands-on working experience, which had contributed greatly to making his credit control and debt collection training sessions very practical and performance orientated. He is currently a Credit Manager, heading the Credit Department of a foreign-based company.
B H Soo, who holds a Master of Science in Technology Management from University of Staffordshire (UK), a Bachelor in Business and Administration from University of South Australia (Australia) and an Executive Diploma in Management from University of Malaya (Malaysia), is a qualified trainer who has completed the Trainer’s Certification from Pembagunan Sumber Manusia Berhad (PSMB).
As B H Soo’s forte is in Credit Management, he carefully craft and customizes his credit control and debt collection training sessions that meet organizational needs and carries out the sessions effectively, which is not only practical but performance orientated. As a spinoff, he is also conduct training in the Customer Service, Credit control for Sales People, Effective Telephone Collection.
B H Soo is passionate about teaching as he reckons it is his social responsibility to ‘transfer the knowledge and skills’, he had learned and acquired over the years, back to society. According to him, there is nothing more satisfying than being able to pass down his knowledge and experiences to the next generation. He subscribes to the philosophy of ‘my attitude is my choice’ - although I cannot change my world but I can change my attitude about it, and lives a healthier and happier life”. He is therefore energetic and highly-charged when conducting training sessions.
B H Soo is an associate member of Malaysian Institute of Management, a committee member of Association of Credit Management Malaysia and an affiliate member of Institute of Credit Management (UK).
Special Offer
STANDARD PRICE:
1Pax = RM 1,790.00
GROUP PRICE:
3Pax or more = RM 1,190.00 (Valid until 14 DAYS prior to registration).
Payment mode:
Schedules
| No. of Days: | 1 |
| Total Hours: | 8 |
ITRAININGEXPERT GLOBAL PLT is the corporate training arm of The English Expert Publishing and Training Group established since 1999 by consulting partners with extensive training experience from both the government and corporate sector covering Malaysia, Singapore, Australia, China, Vietnam and Indonesia.
All our trainers are experienced practitioners, professionally certified, dedicated and specialized in their respective fields. Our corporate philosophy is of Total Customers Satisfaction. We carry out our task with integrity and full commitment. We continue to keep abreast with industry developments through individual and ongoing continuing education, in-depth training and consulting that your organization demands and deserves.
For 18 years now and counting, we have trained more than 100,000 people to improving their work productivity, leadership & communication skills, language proficiency, sales, negotiation & presentation skills, workplace management and personal development.
What do we SPECIALISE in?
Put it in an easy way, we specialize in Training and Human Development training and consultancy services covering both soft skills and technical skills, a wide range of courses pertinent to the human capital development of high performing organization. ...
Related Courses
