1 Day Practical Workshop on Effective Debt Recovery Strategies 
Workshop Description How Effective is your company in managing its defaulting customers?
Ever since the Asian economic crisis struck followed by the devastating SARS outbreak, many companies have been forced to refocus almost exclusively on survival and the management of loan recoveries. Among some of the more pressing developments encountered include difficulties in debt recovery, which may have turned delinquent. This seminar is designed to help your staff understand & learn how successful calling strategies can help make debt recovery more effective & thus improve your cash flow. STATISTICS SHOWS THAT… - IN-HOUSE DEBT COLLECTION EFFORTS ARE ONLY 70% EFFECTIVE WITH 90-DAY INVOICES. WHEN THE DEBT REACHED 6 MONTHS, RETURNS DROP TO 50%
- NEARLY 27% OF ACCOUNTS THAT ARE 90 DAYS PAST DUE MAY NEVER BE COLLECTED. AFTER 6 MONTHS, THAT FIGURE LEAPS TO 44% AVERAGE AND AFTER 1 YEAR, AN ALARMING 75% OF DELINQUENT ACCOUNTS ARE WRITTEN OFF AS UNCOLLECTIBLE
- AN ESTIMATED 46% OF BUSINESS OWNERS DON'T REGULARLY MONITOR THEIR RECEIVABLES
Workshop Outline - Introduction to debt collection
This section will introduce the participants to the primary objectives in collections, the importance of collections, objectives of establishing collection policies as well as examples of some general collection policies. - How to lower your risk factors?
This section covers having a proper credit control system, causes of delinquency in receivables, knowing your legal rights against your debtor. - Attributes of an effective collections staff
This section touches on what are the attributes that makes an "effective" collections staff. - Effective collection techniques
This section includes general guidelines on collection techniques. - Effective telephone techniques
This section introduces telephone collections, communicating tips, the process of a successful phone collection call & developing your collection "POWER". - Debtor profiles
This section will guide the participants through on the different debtor profile types & the "tell-tale" signs as well as the kinds of delinquent debtors. - Stalls & objections/disputes, gatekeepers
This section examines the difference between a stall & an objection/dispute, the different types of stalls & how to counter them & also how to get around gatekeepers. Attend this Workshop to Reduce bad debts and DSO through tested and proven strategies - Handle each and every excuse/reason for delay or non-payment quickly and effectively
- Grasp the importance of commercial/business awareness and the strategic importance of credit collection management
- Successfully implement a proactive and practical credit management and debt recovery strategies to address delay/non payments
- Better Understand on the effective methods of collection (including negotiation) on debts
- Improve your accounts receivables, billing and credit collection processes
- Comprehend the legalities surrounding the credit collection and debt recovery processes
- Grasp an effective written communications (letters, faxes and emails) that are shorter,clearer and deliver desired results
- Deal successfully with stressful "immediate decision" credit situations and effectively handle upset and irate customers
- Increase your organisation's Return on Investment (ROI) and profitability and make effective decisions in credit collection
- Establish effective and practical credit and collection policies
- Apply specific techniques to different situations, designed specifically for your customers
- Master the three phases of a collection call
Who Should Attend CEOs, CIOs, CFOs, Finance Managers, Accountants, CTOs, Loan Managers &Officers, Business Development Officers, Marketing & Sales Professionals, ECommerce Development Professionals, Credit Managers & Analysts and CreditCommittee Members. 360 Degrees Trainer 
Gregory is a very dynamic and entertaining trainer/speaker. With more than 20 years in direct sales, he brings with him a wealth of experience in the field of personal selling – from telephone prospecting techniques to face-to-face selling skills that garner results.
Gaining his experience from marketing office security and medical equipment, Gregory spent 13 years in a local leading business and credit information service provider. As a Senior Account Manager, he was tasked with marketing the group's services ranging from business/credit information to debt recovery and account receivables management. Besides holding the highest sales record in the company & being responsible for growing the customer portfolio, he also provided regular training sessions to the sales team on the professional & finer art of selling as well as debt recovery techniques to collection officers in the group of companies. Apart from being the official in-house trainer, Gregory has also conducted many external seminars and workshops to participants from the Government ministries and statutory boards, Multi-National Corporations as well as Small & Medium-sized Enterprises. Some of these include Ernst & Young, BP Singapore, ExxonMobil Asia Pacific, NTUC Income, Hong Leong Asia, Hong Leong Finance, Singapura Finance, Epson Singapore, Chubb Singapore, Tuas Power, SocieteGenerale, Gleneagles Hospital, National Cancer Centre, National Heart Centre, National University Hospital, J.V. Fitness (California Fitness Centre), Starhub Ltd, Pacific Internet, Tenet Insurance, QBE Insurance (Intl), Maybank, OCBC Bank, HSBC, RHB Bank, ECICS Ltd, Cycle & Carriage Industries & many others. Gregory was also a trainer for the Singapore Association of Credit Management (SACM) on the certification program "Collections Best Practice." Gregory believes in the principle of giving only the best of oneself & never shortchanging the company & customers. His motto: "Where knowledge is…..your greatest asset" In House Customized Training We deliver customized designed courses that are tailored to your organizational needs. Our professional trainers are domain experts with extensive international experience. Do contact us today @ 6278 9785/ training@360degrees.com.sg for no-obligation training needs assessment, we will work in partnership with you to identify needs, develop training and find instructors that best fit your business environment. | 
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