A Qualitative Approach to Receivable Management and Debt Recovery Practice

Module Objectives:

The module enables the participants to brush up their receivable management skills and review proven collection techniques. Through the use of realistic case studies, they will learn how and when to apply workable cash-producing tools that help turn promises into payments. The program is an excellent introduction to the credit and collection functions, or for those employees who wish to refine existing receivable management skills. Various collection negotiations styles, critical processes and tactics will be thoroughly discussed.

What to Expect:

• Understand the concept of Receivable Cycle
  
• The Cash-Flow Cycle
  
• Potential cost of waiting
  
• How write-offs impact sales 
  
• Days Sales Outstanding (DSO)
  
• Danger signals
  
• Assessment of debtor
  
• Plan and prepare procedure  
  
• Communication technique 
  
  • The “POWER” module of telephone collection
    
  • Personal style – The N2 Model 
    
  • Effective written collection messages
    
• Negotiate debt settlement