Module 1: Credit Policy and Customer Assessment

• Principles of effective credit management
• Developing a robust credit policy and procedures
• The credit application process and documentation
• Assessing customer creditworthiness and risk profiling
• Practical session: Analyzing financial statements and credit reports to assign a credit risk score.

Module 2: Effective Communication and Negotiation Skills

• The psychology of debt and payment
• Essential communication techniques for debt collection calls
• Overcoming common debtor objections and excuses
• Structuring effective payment plans and agreements
• Practical session: Role-playing a challenging debt collection call with a difficult customer.

Module 3: Dispute Resolution and Managing Difficult Debtors

• Identifying and categorizing different types of disputes
• A systematic approach to dispute resolution
• Strategies for dealing with high-risk or consistently late payers
• De-escalation techniques for angry or aggressive debtors
• Practical session: A case study on resolving a complex billing dispute between a client and the accounts department.

Module 4: Legal Aspects of Debt Collection

• Understanding the legal framework for debt recovery
• The legal process for recovering debt through the courts
• Key legal documents: demand letters, statutory notices, and legal summons
• The role of a debt collection agency and legal counsel
• Practical session: Drafting a formal demand letter to a non-responsive debtor.

Module 5: Data Analysis and Credit Risk Management

• Using data to predict and mitigate credit risk
• Analyzing payment trends and identifying warning signs
• Creating a credit risk matrix to guide decision-making
• Leveraging business intelligence tools for credit control insights
• Practical session: Using spreadsheet software to analyze debtor payment data and create a risk heatmap.

Module 6: Technology and Automation in Credit Control

• Exploring credit control software and enterprise resource planning (ERP) systems
• Automating communication and payment reminders
• Implementing online payment portals and electronic invoicing
• The future of credit control: AI and machine learning applications
• Practical session: Setting up automated payment reminders and reporting in a simulated credit management system.

Module 7: Ethical Considerations and Customer Relations

• The importance of a professional and ethical approach to debt collection
• Understanding and respecting customer rights
• The impact of debt collection on customer relationships and brand reputation
• Balancing aggressive follow-up with a customer-centric approach
• Practical session: A group discussion and debrief on ethical dilemmas in debt collection.

Module 8: International Debt Collection and Cross-Border Challenges

• Key differences in international debt recovery laws and practices
• Overcoming language and cultural barriers in cross-border debt collection
• The role of international credit agencies and legal firms
• Navigating currency exchange issues and international payment systems
• Practical session: Developing a strategy for collecting a debt from a customer in a foreign country.

Module 9: Advanced Debt Recovery Strategies

• Techniques for recovering very old or written-off debts
• The use of litigation as a last resort
• Negotiating with debtors in financial distress or bankruptcy
• Selling or factoring accounts receivable
• Practical session: Creating a comprehensive recovery plan for a long-standing, difficult debt.

Module 10: Performance Metrics and Continuous Improvement

• Identifying and tracking key performance indicators (KPIs)
• Calculating and analyzing DSO (Days Sales Outstanding), aging reports, and bad debt write-offs
• Benchmarking credit control performance against industry standards
• Developing an action plan for continuous improvement
• Practical session: Calculating and interpreting key credit metrics for a provided case study company.

Requirements:

·       Participants should be reasonably proficient in English.

·       Applicants must live up to Armstrong Global Institute admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254725012095 / +254724452588

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.

2. Invoice: We can send a bill directly to you or your company.

3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

2. Participants may cancel attendance 14 days or more prior to the training commencement date.

3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588