Effective Debt Collection and Recovery - The Centre for Behavioral Science

Course Information

Date12 Oct 2016, Wed
Time9am - 5pm
VenueConcorde Hotel Function Room (f.k.a Le Meridien Hotel) Orchard Road
FeeS$ 500 (Nett)
S$ 300 (After 40% PIC Cash)
ContactJaslyn
9767 9686 / 6278 9785
jaslyn@cbsgroup.com.sg
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12
Oct 2016

Effective Debt Collection and Recovery

- Learn the key to tackle debt collection issues and minimizing bad debts

INTRODUCTION

Bad times is ahead of us. We expect 2016-2017 to be tough, especially when Banks and Government limits funds available for loans. While cost of funds climbs, the demand of goods reclines to a new low. Such conditions, put many businesses at risk. Not unless you can respond to such challenges quick enough, your business will suffer from poor collections and lack of funding. Let this 1 day programme – guides you through difficult times in debt collection and recovery. Knowing exactly what and how to tackle debt collection issues – is key in minimizing bad debts.

COURSE OBJECTIVES

COURSE OBJECTIVES

The course is designed to develop the skills and knowledge of business managers in managing credit portfolios and ascertaining acceptable credit risk, by introducing basic analytical techniques and tools and essential credit risk analysis methodology. Participants will also acquired knowledge in effective debt management in perfecting credit risk management.

Upon completing this programme, you are able to:

  • Understand the collection process and its prerequisites for a successful business
  • Select the appropriate collection strategies to improve cash flow and minimize bad debt losses
  • Develop and formulate a collection policy framework for their organizations

PROGRAMME OUTLINE

PROGRAMME OUTLINE
  1. Effectiveness in Collection:
    1. Why Collection Efforts Fail
    2. Common Approach vs. Creative Collection
    3. Strategy for Effective Collection
    4. Implementing Effective Debt Collection
    5. Credit culture and practice
  2. Negotiating with Debtor:
    1. The Objective
    2. The Process
    3. Good Negotiations Strategy
    4. Common Debtor Tactics
    5. Group Exercise: Solutions on how to collect from difficult debtors
  3. Understanding Debtor’s Behavior:
    1. Why does debtor refuse to pay / delay payments
    2. How to make an Effective Collection
    3. Process of Effective Collection Call
  4. Effectiveness in Collection:
    1. Why Collection Efforts Fail
    2. Common Approach vs. Creative Collection
    3. Strategy for Effective Collection
    4. Implementing Effective Debt Collection
    5. Credit culture and practice
  5. Understanding Debtor’s Behavior:
    1. Why does debtor refuse to pay / delay payments
    2. How to make an Effective Collection
    3. Process of Effective Collection Call
  6. Negotiating with Debtor:
    1. The Objective
    2. The Process
    3. Good Negotiations Strategy
    4. Common Debtor Tactics
    5. Group Exercise: Solutions on how to collect from difficult debtors

TRAINING METHODOLOGY

TRAINING METHODOLOGY

Instructor led discussions, followed by scenario analyses, and self reflection exercises.

WHO SHOULD PARTICIPATE?

WHO SHOULD PARTICIPATE?

This workshop is for executives involved or responsible in formulating, enforcing and implementing credit policies, and debt collection:

  • Collection Officers
  • Sales & Marketing Executives
  • Credit Officers & Analyst
  • Business Owners and Operations
  • Customer service and Relationship managers

TESTIMONIALS

TESTIMONIALS

“The trainer is very good in delivering knowledge / lecture to the class by providing real-life cases as reference & relate well to the course books provided.”
– Changi Airport

“The lecturer provided a lot of case studies & examples to us. She is very cheerful & attending her class has never been bored.”
– Siemens Singapore

ABOUT THE TRAINER

ABOUT THE TRAINER

Jessica Hong CA(M) CPA

Jessica always delivers her financial skills programmes in a refreshing way, and helps accelerate the learning curves of the non-finance professionals. Financial courses need not be dull and boring; they can be fun, stimulating and personally motivating.

Jessica Hong (Ms.) is a Malaysian Chartered Accountant and holds a Bachelor of Accountancy from University of Malaya and she completed her post-graduate studies in Management Development Programme at INSEAD, Singapore.

Her career with PricewaterhouseCoopers (PwC) has given her invaluable experience in system assurance, management assurance, audit, fraud investigations, system implementations, due diligence and many other challenging assignments. All these provide her with deep insights of financial management practices and their impact on corporate performance. Her financial skills training experiences made her an invaluable resource to participants in her financial skills programmes.

She was trained by Michael Wells, Director, IFRS Education Initiative, IFRS Foundation and Paul Pacter, IASB Member & Chairman of the SME Implementation Group in Singapore recently, to be an IFRS Trainer (IFRS is International Financial Reporting Standard).

She is on the panel of trainers for Institute of Singapore Chartered Accountants (ISCA) Business Ethics and Conduct, specialising in Anti Money Laundering and Anti Terrorism Financing topics, and Financial Reporting Standards.

In Jessica’s recent projects, she was appointed by the Accountant’s General, Ministry of Finance and Akademi Audit Negara, to train all auditors, accountants and operation leaders in Malaysia Government in implementing Malaysia Public Sector Accounting Standards (MPSAS) , a migration from cash accounting to accrual accounting.

Some of her major clients she worked with during her career include DKSH, Sime Darby and Amoco Chemicals, Maxis Communications, United Overseas Bank Malaysia, CitiBank Thailand, Kampuchea Institute of Certified Accountants and Auditors (KICPAA), OCBC Bank, MSIG, Institut Bank-Bank Malaysia, Ministry of Finance Malaysia, Institute of Singapore Chartered Accountants, Ministry of Finance (Malaysia), MSIG , Moet Henessey Diageo Singapore and Agro Bank.

Jessica has varied and vast commercial experience in developing and implementing credit control policies, project management, debt recovery training, system integration and many other management effectiveness & efficiency assignments.

With more than 10 years of training experience in her cuffs, Jessica continued her passion in human capital development, specializing in financial and management skills training.

Jessica defines Corporate Trainings as applying adult learning methodologies that are interactive and stimulating to help the participants relate better in application of the newly acquired financial skills.

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