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Live Online Training Schedules

Now participate in a live online course for a highly discounted fee of only $850, as a limited introductory offer.
(Terms and conditions apply)
CodeDateFormatFees 
BII1722 Feb - 26 Feb, 2021Live Online$1800Register
BII1731 May - 04 Jun, 2021Live Online$1800Register
BII1723 Aug - 27 Aug, 2021Live Online$1800Register
BII1722 Nov - 26 Nov, 2021Live Online$1800Register

Classroom Training Schedules

CodeDateVenueFees 
BII1726 Apr - 30 Apr, 2021Nairobi $4250Register
BII1710 Oct - 14 Oct, 2021Dubai$3950Register

Did you know you can also choose your own preffered dates & location? Customise Schedule

Course Overview

Debt collection is the process of following up for payments due by debtors (businesses or individuals). Organisations specialising in debt collection are known as collection agencies or debt collectors. Collectors work on behalf of creditors to get debtors to clear pending payments, for a fee or commission.

Debt collection and recovery are extremely important because cash flow issues could lead to serious organisational challenges. A point to note that though debt collection and debt recovery are almost used synonymously, there is a slight difference between the two.

This Zoe training course will empower you with complete knowledge and information about debt collection, recovery, negotiation and credit control management.

The content has been designed to upskill you in all critical areas, thereby providing the required knowledge and experience to assume higher responsibilities for one’s organisation, in turn promoting growth.

Course Objectives

The key objective of this Debt Collection, Recovery, Negotiation and Credit Control Management course is to empower professionals to—

  • clearly understand debt collection, recovery, negotiation and credit control management
  • define and establish strong credit control systems and processes to reduce the risks of defaulters impacting the organisation’s financial status
  • draft simple, clear credit policies and other guidelines to ensure that the precaution needed is understood and practised by all employees organisation-wide
  • establish stringent guidelines for onboarding customers or other finance-related functions to prevent problems in the issue of loans and other support
  • train other professionals on best practices and concepts of debt collection, recovery, negotiation and credit control management
  • negotiate, on behalf of one’s organisation, with debtors to recover the maximum amount possible, thereby supporting organisational stability and growth and establishing oneself as a talented professional to handle greater opportunities
  • work with advanced tools and technology to enhance screening, monitoring, tracking and follow-up processes
  • audit existing documentation and ongoing loan agreements to identify early risks and take actions accordingly
  • possess supreme experience and multitasking abilities to handle greater responsibilities within and outside the organisation, supporting one’s career progression

Training Methodology

All Zoe Talent Solutions courses are customisable to be relevant to the training audience’s professional experiences. Training is delivered by experienced professionals from the relevant domain, using audio-visual presentations for ease of reference.

Two-way participation is ensured through activities and assignments, including role-plays, case study discussions, experience sharing, etc.

The above training format is one of its kind and is used by Zoe Talent Solutions alone for all its courses. It is called the Do–Review–Learn–Apply Model.

Organisation Benefit

Organisations whose professionals undertake this Debt Collection, Recovery, Negotiation and Credit Control Management course will benefit in the ways mentioned below:

  • Successful data collection, recovery, negotiation and credit control management handled by trained, experienced professionals
  • Application of advanced technology to enhance important initial steps of screening and tracking
  • Well-drafted, clear credit policies and other documentation to ensure precautions and protocol are understood and followed diligently by all
  • Stringent screening protocol when establishing new customer relationships or facilitating large transactions
  • Regular audits of organisational operations to check for possible risks leading to the major financial impact
  • Training of other employees on all critical aspects regarding debt collection, recovery, negotiation and credit control management
  • Organisational stability because of stringent guidelines and precaution by employees to prevent fraud and defaulters
  • Adherence with all required universal standards of operation
  • Strong, well-defined credit control systems followed and adopted by all to minimise chances of incorrect judgements of the organisation that could impact it severely

Personal Benefit

Professionals opting for this training Debt Collection, Recovery, Negotiation and Credit Control Management course will benefit in the ways mentioned below:

  • Complete knowledge and information about debt collection, recovery, negotiation and credit control management
  • Increased confidence and experience to work with advanced technology to enhance the overall process of credit control
  • Greater understanding and knowledge to establish robust systems to ensure safe onboarding and relationship establishment to prevent major impact due to defaulters
  • Improved information and knowledge to draft and communicate credit policies
  • Better understanding and experience to train other professionals on best practices and important concepts of debt collection and recovery
  • Increased knowledge and awareness of universal regulations to ensure that one’s organisation adheres to these
  • Better multitasking skills to handle higher roles and responsibilities requiring supervision of various functions related to debt recovery and collection, promoting one’s growth
  • Enhanced skill set and capabilities to prevent any leakage for one’s organisation and effectively oversee debt collection and recovery, thus paving a way for one’s faster career growth and progression

Who Should Attend

  • Strategic leadership of an organisation responsible for establishing and implementing high-level decisions
  • Finance and loan managers carrying out their responsibilities involving financial transactions and issuance of loans
  • Accountants and other executives who need to understand credit control management thoroughly
  • Collection agency members who wish to enhance their knowledge of related aspects
  • Legal and financial advisors of organisations playing an important role when a legal or finance leakage issue occurs
  • Any other professional interested in knowing more about debt collection and recovery

Course Outline

The Debt Collection, Recovery, Negotiation and Credit Control Management course covers the following topics regarding debt collection, recovery, negotiation and credit control management:

Module 1 – Types of Debt Collectors

  • First-party agencies
  • Third-party agencies
  • Sale of debts

Module 2 – Debt Recovery Process

  • Initial consultation
  • Due diligence
  • Issue of letter of demand
  • Awaiting response and negotiate
  • Filing of court papers
  • Enforcement of court decision

Module 3 – Measures Reducing Bad Debt Recovery

  • Thorough customer background check
  • Safe customer credit limits
  • Release of goods after payment clearance
  • Shipping of goods after direct deposit payment
  • Regular invoicing
  • Clear payment instructions and terms on invoices
  • Regular contact with customers

Module 4 – Effective Debt Collection Strategies

  • Alternate but flexible payment terms
  • Customer-oriented operations
  • Up-to-date communications
  • Applied analytics
  • Centralised debt collection systems

Module 5 – Challenges Impacting Debt Collection Operations

  • Increased focus of regulators
  • Ineffective debt collection systems
  • Inefficient customer segmentation
  • Lack of proper tools
  • Lack of a consolidated borrower-centric approach
  • Multi-product, multi-channel, multi-debt obligations

Module 6 – Debt Collection Agency Functions

  • Tracing creditor
  • Negotiating
  • Systematic follow-up
  • Maintaining records

Module 7 – Methods of Debt Collection Agencies to Recover Debt

  • Freezing accounts
  • Property as security
  • Wage garnishment

Module 8 – Effective Credit Policy Components

  • Term of sale
  • Credit extension
  • Collection policy

Module 9 – Effective Debt Settlement Negotiations

  • Start with reminders
  • Have accurate information
  • Do your research
  • Stay professional
  • Approach negotiations as equals
  • Have a concrete minimum
  • Require a counter-offer
  • Confirm deal in writing
  • Clearly explain ramifications
  • Remember follow-up letters

Module 10 – Cash Flow Management

  • Cash flow cycle
  • Accelerating cash inflows
  • Cash flow forecast
  • Cash flow surpluses and shortages

Module 11 – Credit Control System Set-Up

  • Clear credit terms and limit
  • Check new customer credit scores
  • Terms and conditions in writing
  • Offer different payment options
  • Consider discounts for early payments
  • Send regular reminders
  • Employ debt collection agencies
  • Commence legal proceedings in time
  • Buy trade credit insurance

Module 12 – Credit Risk Modelling Examples

  • Financial statement analysis models
  • Default probability models
  • Machine learning models

Module 13 – Factors Affecting Borrowers’ Credit Risk

  • The probability of default
  • Loss given default
  • Exposure at default
Online Courses
Note
Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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Business Bay, Dubai, UAE

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England, E17 5JR

Ph: +44 7443 559344

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Live Online Training

Now participate in a live online course for a highly discounted fee of Only $850, as a limited introductory offer.

(Terms and conditions apply)