(English) COMPLETE WEBINAR SERIES - Effective Debt Recovery Strategies Through Credit Management by Soo Bee Hong
Total Duration of Training: 10 hours 13 minutes
Everything you need to know about Effective Debt Recovery Strategies Through Credit Management
- Lesson 1 : Effective Debt Recovery Strategies Through Credit Management
- (Wed) 07 April 2021, 10:00 am – 2:00 pm
- Lesson 2 : Effective Debt Recovery Strategies Through Credit Management
- (Wed) 14 April 2021, 10:00 am – 2:00 pm
- Lesson 3 : Effective Debt Recovery Strategies Through Credit Management
- (Wed) 21 April 2021, 10:00 am – 2:00 pm
- Lesson 4 : Effective Debt Recovery Strategies Through Credit Management
- (Wed) 28 April 2021, 10:00 am – 2:00 pm
If you wish to get FULL WEBINAR SERIES (Lesson 1-4) ,
Payment inclusive of Replay, Certificate of Comletion to manually claim your CPD/CPE points. Download of PDF Notes. Only PDF training materials are downloadable. MP4 Video Replays are non-downloadable (unlimited streaming is available for mp4 replays).
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What is the course about?
Bad debt, the opposite of profit, unfortunately, is a part of doing business, but not something that cannot be managed and control to a minimum thus ensure the company stays on the right track of profitability. 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.
Collecting book debts appears to be ‘so difficult’ to many people and deem uninteresting. Many people also find collecting debts an unpleasant job, not to mention frustrating and even complicating at times, even to senior staff. However, with the understanding of the credit recovery policy plus acquiring of the appropriate tools, strategies and techniques through training, collecting a debt can be professionally challenging and exciting career.
In this workshop, the facilitator hopes to share his 37 years of practical experience in credit management i.e. credit assessment and recovery, the 2 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.
What to expect?
• Understand the meaning and reasons for Credit Management
• Appreciate the important of credit policy in defining the objectives, function and responsibilities of credit department to achieve maximum profitability from trading.
• Realize the need of credit assessment due to selective risk-taking in the interests of increasing overall profitability.
• Establish a Collection Policy that not only ensure recovery of debts, but also provide follow up procedures in monitoring and collection of debts
• Highlight Debt Collection Agencies and legal action process in debt collection
Who should attend?
- Credit Assistants, Executives & Managers
• Finance, Accounts & Admin. Executives & Managers
• Executives to Senior Managers
• Marketing Professionals in-charge of collection
- What is Credit Management and its objectives?
- Poor debt management
- Consequences of bad management
- What is Collection Policy?
- Provide an orderly sequence of actions to follow up on payments
- Right attitude for collection
- Committed Attitude
- Empowered your staff
- Hire right person
- Best person may not be the right person
- Negotiation skills
- Type of negotiation
- Characteristic of good negotiator
- Case study - How to improve the outcome of your debt collection negotiations?
- Build customer relationships
- Happy customers are usually happy to pay
- Listening skills
- Practical steps to effective listening
- Questioning and probing skills
- Practical steps to effective questioning and probing skills
- Assertive communication
- Good assertive communication skills
- Case study - What are the techniques of assertive communication?
- The techniques
- Essential techniques in debt collections
- Telephone collection skills
- Most effective way to collect money
- How to make your collection calls get results?
- Site visits
- Site visits give you a view of a customer otherwise not seen
- Reminder letters
- 3 types of reminder letters
- What went wrong?
- Find out why accounts go bad
- Case Study - How to reduce the risk of late payment?
- Who are our customers?
- How many types of customers
- How to handle difficult customers
- Case Study - What are the most common payment excuses?
- Explore external collection methods
- Outsource to Debt Collection Agencies
- Debt recovery through Legal Proceeding
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). PSMB-MIM Certified Trainer [Cert. No: TTT/3813])
B H Soo has been involved in the area of Credit Management for the past 37 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 training sessions very practical and performance orientated. His last employment was with an IT-based company as a Senior Manager, heading the Billing and Credit Control Department and also participated in their M1 management meeting and strategic planning.
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). He 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).
As B H Soo’s forte is in Credit Management, he carefully crafts 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. With over 30-year experiences in management, the last 10 years holding a Senior Manager position, and plus numerous participations in leadership mentoring, coaching and training programs, particularly of the John C Maxwell team, he also meticulously designs his leadership trainings to teach, particularly the new young managers, on the importance of effective leadership skill that not only can influence people towards accomplishing goals but facilitate change in organization. As a spinoff, he also conducts training in the Customer Service Skills, Credit Control for Sales People and Effective Telephone Collection Skills.
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 has conducted many trainings, for 10 years now, including in-house training for Malaysia Airlines Berhad and Mydin, and was also invited to speak on ‘credit control and debt collection’, on several occasions, by associations including RAMCI.
Courses Included with Purchase
Original Price: RM236
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