Format: Live instructor-led online training via Zoom / Microsoft Teams

Introduction

Effective debt collection and credit control are crucial for the financial health of any organization. This course on Debt Collection, Recovery, Negotiation, and Credit Control Management is designed to equip professionals with the necessary skills and strategies to manage and recover outstanding debts, negotiate with debtors, and implement robust credit control measures. In today's economic environment, where businesses face increasing challenges in maintaining cash flow, mastering these skills is essential to ensuring business sustainability and growth. The course is tailored to provide participants with practical knowledge that can be immediately applied in their roles, enhancing their ability to manage debt and credit effectively.

Participants will learn how to assess credit risk, develop effective debt collection strategies, and negotiate payment terms that are favorable to their organization while maintaining positive relationships with clients. The course covers legal aspects of debt recovery, communication techniques for negotiating with difficult debtors, and the implementation of credit policies that minimize the risk of bad debts. By the end of the course, participants will have a comprehensive understanding of how to manage and recover debts efficiently, which is vital for maintaining a healthy cash flow and financial stability.

This course is ideal for credit control managers, debt collection agents, financial officers, and anyone involved in the management of credit and debt within an organization. It is also suitable for small business owners who want to strengthen their credit control processes and improve their debt recovery rates. By focusing on real-world case studies and practical exercises, the course ensures that participants gain the skills they need to protect their organization’s financial interests

Course Objectives

1. Understand the principles and practices of effective debt collection.
2. Learn how to assess and manage credit risk.
3. Develop strategies for negotiating with debtors.
4. Gain knowledge of legal frameworks governing debt recovery.
5. Implement credit control measures to minimize bad debts.
6. Learn communication techniques for handling difficult debtors.
7. Understand the role of credit control in financial management.
8. Gain practical skills in drafting and enforcing credit policies.
9. Learn how to use data and analytics in credit control management.
10. Apply best practices in debt recovery and credit management.

Organization Benefits

1. Improved cash flow through efficient debt recovery.
2. Reduced risk of bad debts and financial losses.
3. Enhanced credit control processes and policies.
4. Strengthened relationships with clients through effective negotiation.
5. Better management of credit risk and exposure.
6. Increased financial stability and profitability.
7. Legal compliance in debt collection and recovery.
8. Improved decision-making based on credit data and analytics.
9. Enhanced reputation for financial responsibility.
10. Development of a skilled team capable of managing credit and debt effectively.

Target Participants

• Credit control managers and officers.
• Debt collection agents and recovery specialists.
• Financial officers and managers.
• Business owners and entrepreneurs.
• Legal professionals involved in debt recovery.
• Customer relationship managers.
• Risk management professionals.
• Accountants and financial advisors.
• Small business owners looking to improve credit control.
• Anyone involved in the management of credit and debt.

Course Outline

Module 1: Introduction to Debt Collection and Credit Control

1. Overview of debt collection and credit control
2. Understanding the importance of managing credit and debt
3. Key concepts in debt recovery and negotiation
4. Case study: Successful debt recovery in a retail company
5. Practical exercise: Assessing credit risk in a new client
6. Discussion: The impact of poor credit control on business finances

Module 2: Credit Risk Assessment and Management

1. Techniques for assessing credit risk
2. Identifying high-risk clients and industries
3. Developing a credit risk management strategy
4. Case study: Credit risk assessment in a financial institution
5. Practical exercise: Creating a credit risk profile
6. Group discussion: Balancing risk and reward in credit management

Module 3: Legal Aspects of Debt Recovery

1. Understanding the legal framework for debt recovery
2. Rights and obligations of creditors and debtors
3. Legal procedures for recovering outstanding debts
4. Case study: Legal challenges in debt recovery
5. Practical exercise: Drafting a legal notice for debt recovery
6. Discussion: Navigating legal complexities in debt collection

Module 4: Communication and Negotiation Skills

1. Effective communication techniques for debt collection
2. Negotiating payment terms and settlements
3. Handling difficult debtors and disputes
4. Case study: Successful negotiation in a debt recovery case
5. Role-play: Negotiating with a difficult debtor
6. Discussion: Maintaining client relationships during debt recovery

Module 5: Implementing Credit Control Policies

1. Developing and enforcing credit policies
2. Best practices in credit control management
3. Monitoring and reviewing credit policies
4. Case study: Credit control policy implementation in a manufacturing company
5. Practical exercise: Drafting a credit control policy
6. Discussion: Challenges in enforcing credit policies

Module 6: Data and Analytics in Credit Control

1. Using data to inform credit decisions
2. Analytics tools for credit control management
3. Predictive analytics in credit risk assessment
4. Case study: Data-driven credit management in a technology firm
5. Practical exercise: Analyzing credit data for decision-making
6. Group discussion: The future of data in credit control

Module 7: Advanced Debt Recovery Strategies

1. Strategies for recovering long-overdue debts
2. Working with debt collection agencies and legal professionals
3. Developing a recovery plan for high-value debts
4. Case study: Recovery of a large debt in a construction company
5. Practical exercise: Creating a debt recovery plan
6. Discussion: Balancing assertiveness and diplomacy in debt recovery

Module 8: Credit Control in Different Industries

1. Industry-specific challenges in credit control
2. Adapting credit policies to different sectors
3. Case studies: Credit control in retail, finance, and healthcare
4. Practical exercise: Customizing a credit control strategy for your industry
5. Group discussion: Lessons learned from different industries
6. Final project: Developing a comprehensive credit control and debt recovery strategy

General Information

1. Customized Training: All our courses can be tailored to meet the specific needs of participants.
2. Language Proficiency: Participants should have a good command of the English language.
3. Comprehensive Learning: Our training includes well-structured presentations, practical exercises, web-based tutorials, and collaborative group work. Our facilitators are seasoned experts with over a decade of experience.
4. Certification: Upon successful completion of training, participants will receive a certificate from Foscore Development Center (FDC-K).
5. Training Locations: Training sessions are conducted at Foscore Development Center (FDC-K) centers. We also offer options for in-house and online training, customized to the client's schedule.
6. Flexible Duration: Course durations are adaptable, and content can be adjusted to fit the required number of days.
7. Onsite Training Inclusions: The course fee for onsite training covers facilitation, training materials, two coffee breaks, a buffet lunch, and a Certificate of Successful Completion. Participants are responsible for their travel expenses, airport transfers, visa applications, dinners, health/accident insurance, and personal expenses.
8. Additional Services: Accommodation, pickup services, freight booking, and visa processing arrangements are available upon request at discounted rates.
9. Equipment: Tablets and laptops can be provided to participants at an additional cost.
10. Post-Training Support: We offer one year of free consultation and coaching after the course.
11. Group Discounts: Register as a group of more than two and enjoy a discount ranging from 10% to 50%.
12. Payment Terms: Payment should be made before the commencement of the training or as mutually agreed upon, to the Foscore Development Center account. This ensures better preparation for your training.
13. Contact Us: For any inquiries, please reach out to us at training@fdc-k.org or call us at +254712260031.
14. Website: Visit our website at www.fdc-k.org for more information.