Introduction
Bad debt is a serious matter for any company. It has been known to ruin otherwise successful concerns. However, it is essential to ensure that your debt collection activities result in payment of the outstanding amounts, without damaging your customer relations. This interactive, outcomes based training course will give delegates an understanding of the importance of debt collection, the strategies to improve debt collection and the personal skills necessary to manage and collect debt.
Who should attend?
Debt collections officers, team leaders, supervisors, managers who are involved in any aspect of debt collection.
Course duration
Three days starting from 8h30 to 16h00 for the first two days; the last day till 14h00 with the option to discuss any personal issues regarding the subject matter thereafter with the facilitator.
Course includes
- Experienced and passionate facilitator
- Comprehensive training manual, notepad and pen
- Attendance certificate
- One month free consultation by email/phone on the subject
- Training provider is fully accredited
Purpose of the course
To give delegates an understanding of the importance of debt collection, the strategies to improve debt
collection and the personal skills necessary to manage and collect debt.
Specific outcomes of the course
- Understand the implication of debt within your organization/business
- Apply tools and establish mechanism to manager and monitor debt
- Implement a debt management policy
- Apply an approach to debt collection practice
- Apply techniques to the debt collection process
- Examine integrated strategies to improve your debt collection process
- Apply a risk management plan to debt collection
- Understand the legal and regulatory framework
Workshop outline
Understanding what debt means to your organisation
- Understanding why debt management is an important agenda for your cashflow management
- Obtain practical debt management skills to streamline your organisation’s performance perspective
- Guidelines to streamlining operational excellence in your debt management practices:
Debt management principles: applying these specifically to your organisation
- Tools for monitoring and overcoming irregularities in your debt management transactions
- Establishing mechanisms to ensure debt managers comply with regulation and policies governing debt
- Implementing debt collection policies and systems to manage debt efficiently and achieve financial stability
- Developing pro-active approaches to debt collection through implementation of practical enhanced collection techniques
- A step by step approach to understand the importance of collection principles and follow-up mechanisms
- Learning about the do’s and don’ts of collection practices
A hands-on approach to learning how to handle your debtors
- Matching the setting and measuring of collection targets
- Techniques for successful debt collection:
- Establishing attributes of an effective Collections Officer
- Advancing prioritising as a key strategy to meet collection targets
- Integrated strategies to improve debt management: trends and best practices
- What are the appropriate objectives for debt managers?
- What roles and functions are associated with debt management; who is responsible for what and how can positive outcomes be achieved?
- A step-by-step guide to overcoming common pitfalls of debt management
- Techniques for integrating debt management planning in your organisation
- Gain important skills for implementing an effective debt management process in your organisation
- Establishing a sound risk management plan to create positive outcomes for your debt management initiatives
- Integrating risk management to enhance debt management excellence
A hands-on approach to becoming familiar with risk management: fundamentals and how they can increase efficiency of debt management processes
- Examining the practical liabilities of not having a debt risk management plan
- Understand the role of risk management in lowering your organisation’s credit risk
- An overview of institutional strategies for successful debt management
- Examining legal options available to enhance debt collection settlements
- Determining common misunderstandings and ambiguity surrounding the legal procedure for debt recovery
- Explaining how debt management processes work and how you can make them work for you
- Understanding the importance of legislative compliance and value of enforcement remedies for success of your debt management initiative
- A step by step guide to legal processes involved for effective debt recovery
- Legal debt management case studies: analysing cases from both private and public sector
- Practical implications of the National Credit Act on credit transaction management
The National Credit Act (NCA)
- Overview and purpose of the Act and how it impacts debt collection procedures and operations
- What remedies are stipulated to strengthen debt collection practices?
- Determining the role of attorneys in debt collection environments
- Categorise the value of credit bureau and the legal establishment set forth for their use
- What are the debt enforcement procedures that are aligned to the National Credit Act?
- Probing outcomes of litigated cases related to the NCA and debt collection
- Understanding key attributes outlined in the NCA on recovering bad debt
About your facilitator
Dawn Pretorius is the Director of Adzuri Corporate Development, which offers consulting in three main areas: risk management, compliance and corporate governance; related business development; specialist training and facilitation. Adzuri provides training and development for the financial services industry primarily in the form of specialist facilitation, training material and e-learning. The subject matter ranges from technical skills such as credit assessment and risk management to soft skills such as conflict management and business and report writing. Adzuri is the preferred provider for short courses for the South African Institute of Bankers. Dawn is a professional member of the Compliance Institute of South Africa, registered with the Financial Services Board for compliance practice (FAIS), registered as an accredited provider with the Services Seta No 0959, a fellow of the Institute of Bankers and a professional member of the Marketing Federation of South Africa. Dawn has, inter alia, a M. Com, a B.Tech Banking (Univ of Jhb), a Sales & Marketing Diploma, a Trustee Diploma (IOB) and a Certificate in Money Laundering Control (RAU).
