Introduction:

The Debt Collection, Recovery, Negotiation, and Credit Control Management course is designed to equip participants with the knowledge and skills necessary to effectively manage debt collection, negotiate payment arrangements, and maintain credit control within organizations. This course aims to provide participants with practical strategies and techniques to enhance debt recovery efforts, improve cash flow, and mitigate credit risk.

Course Objective: The primary objective of this course is to enable participants to develop expertise in debt collection, recovery, negotiation, and credit control management. By the end of the course, participants will be able to:

1. Understand the principles and legal considerations involved in debt collection and recovery.
2. Apply effective strategies and techniques to negotiate payment arrangements with debtors.
3. Implement credit control measures to minimize credit risk and improve cash flow.
4. Develop and maintain strong debtor relationships to facilitate timely payments.
5. Enhance the organization's financial performance through efficient debt recovery and credit management practices.

Organization Benefit:

Organizations can derive several benefits from staff members who possess strong debt collection, recovery, negotiation, and credit control management skills. Some key benefits include:

1. Improved cash flow: Participants will acquire practical strategies to effectively recover outstanding debts, resulting in improved cash flow and liquidity for the organization.
2. Enhanced credit control: The course equips participants with the knowledge and skills to implement credit control measures, reducing credit risk and minimizing bad debt write-offs.
3. Stronger debtor relationships: Participants will learn effective communication and negotiation techniques, enabling them to build and maintain strong debtor relationships and increase the likelihood of timely payments.
4. Efficient debt recovery: By mastering debt collection and recovery strategies, organizations can optimize their debt recovery efforts, reducing the time and resources required to recover outstanding amounts.
5. Mitigated credit risk: Effective credit control management helps organizations identify and mitigate credit risk, ensuring that credit is extended to reliable and creditworthy customers.

Course Duration:

 The course is designed to be completed within a timeframe of 10 days. This duration allows participants to gain a comprehensive understanding of debt collection, recovery, negotiation, and credit control management while accommodating their work responsibilities.

Target Participants:

This course is suitable for individuals working within various industries and organizations, including:

1. Credit control managers and officers responsible for managing credit and debt recovery processes.
2. Finance managers and officers involved in debt collection and credit control activities.
3. Sales and account managers who interact with customers and manage outstanding debts.
4. Small business owners and entrepreneurs seeking to enhance their knowledge of debt recovery and credit control management.
5. Professionals transitioning into roles that require debt collection and credit management skills.

Training Program Outline:

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

Module 10: Data Analytics and Technology in Debt Collection

• Using data analytics for debt collection and recovery.
• Automation and technology tools for efficient debt recovery.
• Managing debtor databases and records.

Module 11: Managing Debtor Insolvency

• Understanding debtor insolvency and its impact.
• Strategies for dealing with insolvent debtors.
• Engaging insolvency practitioners and legal professionals.

Module 12: Debt Collection Ethics and Compliance

• Ethical considerations in debt collection.
• Compliance with debt collection regulations and standards.
• Consumer protection and debt collection.

Module 13: International Debt Collection and Cross-Border Recovery

• Challenges and considerations in international debt collection.
• Cross-border debt recovery strategies and legal frameworks.
• Working with international debt collection agencies.

Module 14: Effective Communication and Negotiation Skills

• Effective communication techniques for debt recovery.
• Negotiation skills for reaching payment agreements.
• Conflict resolution and dealing with challenging situations.

General Notes

·         All our courses can be Tailor-made to participants' needs

·         The participant must be conversant in English

·         Presentations are well-guided, practical exercises, web-based tutorials, and group work. Our facilitators are experts with more than 10 years of experience.

·         Upon completion of training the participant will be issued with a Foscore development center certificate (FDC-K)

·         Training will be done at the Foscore development center (FDC-K) centers. We also offer inhouse and online training on the client schedule

·         Course duration is flexible and the contents can be modified to fit any number of days.

·         The course fee for onsite training includes facilitation training materials, 2 coffee breaks, a buffet lunch, and a Certificate of successful completion of Training. Participants will be responsible for their own travel expenses and arrangements, airport transfers, visa application dinners, health/accident insurance, and other personal expenses.

·         Accommodation, pickup, freight booking, and Visa processing arrangement, are done on request, at discounted prices.

·         Tablet and Laptops are provided to participants on request as an add-on cost to the training fee.

·         One-year free Consultation and Coaching provided after the course.

·         Register as a group of more than two and enjoy a discount of (10% to 50%)

·         Payment should be done before commence of the training or as agreed by the parties, to the FOSCORE DEVELOPMENT CENTER account, so as to enable us to prepare better for you.

·         For any inquiries reach us at training@fdc-k.org or +254712260031

 

·         Website:www.fdc-k.org