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Practical Yet Effective Methods for Credit Management & Debt Collection
Ever since the Asian Financial Crisis, SARS outbreak, the Global Financial Crisis & followed by the devastating Covid-19 outbreak in 2019, many companies & businesses worldwide had no other choice but to cease their operations. But for those who are still in business, they need to constantly monitor, relook & readapt to the ever changing regulations set by the authorities. These changes very often impact & affect their operations, financial resources & ultimately their profit margins.
In this interactive 1-day workshop, participants will learn simple yet practical & effective stress free methods to help them with their daily collection activities confidently.
In this interactive 1-day workshop, participants will learn simple yet practical & effective stress free methods to help them with their daily collection activities confidently.
Objective
1. Lowering your risk factors
- Developing & maintaining a credit control process & system
2. Knowing your legal rights
- Understanding Singapore’s Courts civil claims procedures
3. Attributes of an effective collections person
- The different characteristics required to make a collections person effective
4. Collection techniques
- Simple, practical & effective techniques to adopt during a face-to-face or telephone collections call
5. Understanding the various debtor profiles
- Know the different types of delinquent debtors & how to deal with them
6. Handling excuses & objections, gatekeepers etc.
- How to tell the difference between an excuse or a real objection & how to counter them
- Developing & maintaining a credit control process & system
2. Knowing your legal rights
- Understanding Singapore’s Courts civil claims procedures
3. Attributes of an effective collections person
- The different characteristics required to make a collections person effective
4. Collection techniques
- Simple, practical & effective techniques to adopt during a face-to-face or telephone collections call
5. Understanding the various debtor profiles
- Know the different types of delinquent debtors & how to deal with them
6. Handling excuses & objections, gatekeepers etc.
- How to tell the difference between an excuse or a real objection & how to counter them
Outline
Lowering your risk factors
This module covers the importance of having a credit control system, causes of delinquency (external & internal factors) in receivables, establishing policies as well as some examples of general collection policies
Knowing your legal rights
Learn the different functions of the Small Claims Tribunal, State Courts & High Court; the process of a civil claim from the Writ of Summons right up to a winding-up/bankruptcy order
Attributes of an effective collections person
This module will highlight the different characteristics a collections person can adopt to be more effective during a collections encounter
Collection techniques
This module will teach participants the “taboo” words never to use & also learn the art of being in control of a conversation
Understanding the various debtor profiles
This module will help participants identify the different types of delinquent debtor profiles & how to manage them
Handling excuses, objections & gatekeepers
“I’ve already sent out the cheque”; “The boss not around to sign the cheque…”. This module will teach participants how to differentiate between an excuse or a genuine objection to non-payment & how to counter them; how to get past receptionists, secretaries or personal assistants etc. who’re a barrier to getting to the correct person
This module covers the importance of having a credit control system, causes of delinquency (external & internal factors) in receivables, establishing policies as well as some examples of general collection policies
Knowing your legal rights
Learn the different functions of the Small Claims Tribunal, State Courts & High Court; the process of a civil claim from the Writ of Summons right up to a winding-up/bankruptcy order
Attributes of an effective collections person
This module will highlight the different characteristics a collections person can adopt to be more effective during a collections encounter
Collection techniques
This module will teach participants the “taboo” words never to use & also learn the art of being in control of a conversation
Understanding the various debtor profiles
This module will help participants identify the different types of delinquent debtor profiles & how to manage them
Handling excuses, objections & gatekeepers
“I’ve already sent out the cheque”; “The boss not around to sign the cheque…”. This module will teach participants how to differentiate between an excuse or a genuine objection to non-payment & how to counter them; how to get past receptionists, secretaries or personal assistants etc. who’re a barrier to getting to the correct person
Who should attend
This workshop is suitable for CEOs, CFOs, Managing/Marketing/Finance Directors, General Managers, Finance/Sales/Admin Managers, Marketing and Salespersons, Collection/Loan Managers/Supervisors, Finance/Accounts staff and basically everyone and anyone who has a role or responsibility in collections in their respective companies.
Testimonials
The course is very effective for me to apply it in my job scope to tackle difficult customers who do not want to pay up. Knowledgeable and personal Mr Chua is also very entertaining in providing real-life experiences that we can relate with. Not a boring training at all!
Jet Aviation (Asia Pacific) Pte. Ltd.
Good Topics and Very Good Trainer!
Singapore Government Staff Credit Co-operative Society Ltd
Very effective. All objectives especially the legal part of AR was an eye opener and very useful as he was very knowledgeable and was able to deliver the topics in a fun way but with lots of value
DTZ Facilities & Engineering (S) Limited
The topic is relevant in the course of my work. The trainer was able to demonstrate his experience in this field of work, impart useful tips for participants to apply and was engaging.
Maritime and Port Authority of Singapore (MPA)
Interesting trainer with helpful topics to help us understand the course better.
ARDEX SINGAPORE PTE. LTD.
The trainer has vast experience on the topic, makes the workshop very interesting with personal experiences. it is full score!
Central Provident Fund Board
The workshop provided full useful knowledge, even on personal basis. The trainer is very lively and interactive.
Central Provident Fund Board
Jet Aviation (Asia Pacific) Pte. Ltd.
Good Topics and Very Good Trainer!
Singapore Government Staff Credit Co-operative Society Ltd
Very effective. All objectives especially the legal part of AR was an eye opener and very useful as he was very knowledgeable and was able to deliver the topics in a fun way but with lots of value
DTZ Facilities & Engineering (S) Limited
The topic is relevant in the course of my work. The trainer was able to demonstrate his experience in this field of work, impart useful tips for participants to apply and was engaging.
Maritime and Port Authority of Singapore (MPA)
Interesting trainer with helpful topics to help us understand the course better.
ARDEX SINGAPORE PTE. LTD.
The trainer has vast experience on the topic, makes the workshop very interesting with personal experiences. it is full score!
Central Provident Fund Board
The workshop provided full useful knowledge, even on personal basis. The trainer is very lively and interactive.
Central Provident Fund Board
Profile of Gregory Chua
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, Societe Generale, 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"
