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PRACTICAL DEBT COLLECTION SKILLS

Facts have proved that many companies go bankrupt, not because of the lack of earning power, but because of being unable to collect sales revenue. Thus, problems concerning accounts receivable, either arising from lack of integrity or poor internal management, have become fatal risks threatening the survival of companies. Companies should take sensible and effective methods to strengthen the management of accounts receivable and safeguard their own benefit. Aimed at the various kinds of problems in the management of accounts receivable and credit collecting, this program will provide you with a complete set of practical collection methods and skills.

Training Objectives

Build up risk awareness and correct collection ideology and motivation.
Understand the cause and harm of bad debt and check bad debt from its source.
Improve internal accounts management and collection process and establish a proper management system
Through case study, master effective methods and skills for accounts collection
Use the tools of trade risk precaution effectively

Training Attendees

Finance manager, credit manager, sales manager
Credit staff or accounting professionals
Calling-in staff, sales staff
Relative staff in charge of credit or receivables


	Training Outline

	The Motivation of Accounts Receivable – Why must Accounts Receivable Management be Strengthened?
	Analysis of receivables management and corporate capital demand
	Corporate capital turnover crisis caused by receivables
	Cost and potential risks of accounts receivable
	The balance between accounts receivable control and sales
	Performance assessment
	Analysis of the Cause of Bad Accounts Receivable Performance
	Analysis of internal and external environments for accounts receivable
	Common excuses given by customers for deferred payments
	Real-Time Monitor of Receivables
	Quantity control
	Age debtors control
	DSO assessment
	Accounts receivable management information system
	Collection Policy and Procedures

	Guideline for debt collection
	Internal procedures of debt collection
	Internal communication and coordination
	Responsibilities of salespeople
	The Skills of Account Settlement
	Analysis of payment tools—the comparison of check, promissory note and draft of bill of exchange
	Notes risk precaution
	Principles for Account Collection
	Basic principles for account collection
	Traps for account collection
	Basic abilities of account collector
	Methods and Skills for Account Collection
	Collection by correspondence
	Collection by telephone
	Collection by interview
	Collection skills for different types of customers
	Skills and Cases of Bad Debts Collection
	Clues to identify the account of the defaulter
	Common deferred payment methods and solutions
	How to make use of external assistance
	Case analysis of account collection