(MC) Effective Debt Collection Strategies – The Collection Communication

17-18 Aug, 2022, Remote Online Training - Public

IPA Training is Registered with

Learn from the Best

Dr Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD in international finance with Rushmore University of USA.

 

Dr Liew had worked in private sector companies, ranging from family-run businesses to professionally manage multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 30 years working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF Finance & its related group of companies over the 10 years period

 

He is a registered Trainer with the Government Human Resources Development Berhad (Pembangunan Sumber Manusia Berhad). And he is a GST Tax Consultant and had successfully completed the Custom examination

 

Dr Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle, IQPC Worldwide Pte Ltd , Singapore, Lexis Nexis,, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation, Asia Business Forum Pte Ltd, Hong Kong, Ministry of Development, Brunei , BICPA Asean Management, Brunei, Risda Group Of Companies, Sales & Marketing Training Forum, Sri Lanka, Giant Retail Sdn Bhd, Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd, Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd ,Sony Malaysia Sdn Bhd , Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, SYNERGY RMS PTE LTD, India; UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance; Seccom Sdn Bhd; Bridgestone Chemical Products (M) sdn Bhd; Dialog Group Bhd; SEDCO, KK ; Hosiden Electronics (M) Sdn Bhd; STO Maldives; Indah Water Consortium Sdn Bhd; CPA Australia (M) Sdn Bhd & VMAC Business Group (M) Sdn Bhd, China

 

He is currently providing management consultancy and training specializing in GST, Forecasting, Fast closing monthly, leadership, Strategic Planning, budgeting, accounting, finance, Cost reduction, credit management & loan recovery.

 

WHAT YOUR COLLEAGUES ARE SAYING ABOUT THE COURSE…

“After the 2-day course on “Debt Recovery Strategies”, the following improvement are obvious, I set customer dateline for customers to pay, as the trainer impressed with the phrase “customer always want to pay “Now I have the passion for collection from my customers” Head of Credit Division, Credit Guarantee Corporation

 

“The clear improvement is the boosting of my confidence in negotiation with the customers on default payment, knowing what to ask, how to approach the customers as many roles plays of customer interaction facilitated by Dr Steven Liew really helps me in the collection process. Really nice to hear from you again & following up on my collection position” Asset Manager, Malaysian Debt Venture

 

“Before the debt collection strategies training, I am a very straight forward person in collection & sometimes customers cannot take it. After the training, I realize I should be cool & focus in the collection process. I am practicing them now & seeing a real change in my attitude towards the customers.
Really thank you to Dr Steven Liew” Head of Business Support Section, Johor Port Bhd

 

“The debt collection strategies seminar reinforces my believe in building strong rapport with customer, help the customers & even take some risk, if necessary, to recover the money. The skills learnt from the practical training process in solving & recovery the debts are indeed rewarding & challenging. Dry Steven; feel free to drop by for a cup of drink & chat” Marketing Manager & Credit Head; Theen Seng Paper Manufacturer Sdn Bhd

 

“The Debt collection seminar indeed is very beneficial as I am now cutting down bad cases, do more prevention during evaluation stage, and ask for advance payment. Before that, we will provide the professional services, bill them, & then chase for collection. Really, appreciate the skills & input from Dr Steven Liew. And thank you for following up with us after the credit & collection training session” Lim Kai Siang & Co Chartered Accountant

“The greatest improvement after the 2-day credit & collection workshop by Dr Steven Liew is implementation of outsourcing to collection agency. Very effective & the bad cases have improved tremendously. The “human touch”, negotiates skills learnt, review & monitor accounts are really put to good use” Senior Internal Auditor, Technology Park Malaysia Corporation Sdn Bhd

Venue Details

Remote Online Training - Public

Contact us

Juliany,
M - 012 2281 247
juliany@ipa.com.my

Phoebe,
M - 019 363 7822
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Yvonne,
M - 012 201 1247
yvonne@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • Module 1: Strategies to Reduce Debts
  • Module 2: Burning Issues in Debt Recovery
  • Module 3: How to Deal with Different Type of Difficulty Customers
  • Module 4: Be Flexible, Creative & Think Out of The Box Approach
  • Module 5: Collection Negotiation Tactics
  • Module 6: Put Your House in Order
  • Module 7: Collection Case Studies
  • Module 8: Legal Procedure


SPECIAL FEATURE: Participants Will Receive a Set of Practical Templates suitable for all sectors.

INTRODUCTION

To Reduce Debts and have collection recovery, you need to have the heart of an entrepreneur.

This course will help to provide you with an environment that stimulates proactive behavior to achieve greater goals for yourselves and your organization.

By creating value for your organization, you will be amazed at the speed of career advancement. Real-current problematic debt cases will be analyzed, and scenario solutions will be provided under the guidance of Dr. Steven Liew.

COURSE LEARNING OUTCOMES (CLO)
  1. Know the negotiation techniques
  2. Profile Your Customers
  3. Outline practical debt recovery approaches
  4. Understand Legal Debt Recovery Strategies
  5. Understand Bankruptcy (Amendment) Act 2017
  6. Explain ways in dealing with difficulty customers via telephone
  7. Present collection skills via telephone
  8. Perform credit evaluation and monitoring
  9. Case Studies & Group Discussion
WHO SHOULD ATTEND
Business Managers, Marketing Managers, Collection Executives, Sales Executives, Finance Executives, Supervisors, Managers, Credit Analysts, Credit Controller & Recovery Officers.
METHODOLOGY

Interactive Lectures, Case Study and Group Discussion. Real-Current Problematic Debt Cases will be Analyzed, and Scenario Solutions will be Discussed within the course.

Special Feature: Participants Will Receive a Set of Practical Templates suitable for all sectors. These templates:

  • Ease in planning, reporting & decision-making process
  • Snapshot of overall issues & problem
  • Financial modeling using goal seek strategies for cash flow, profit, sales target, budgeting & working capital requirements.

DAY 1
9:00

MODULE 1: STRATEGIES TO REDUCE DEBTS 

  • Know your customers
  • Plan your site visit
  • Focus on collectable & big customers
  • Lead by example
  • Be flexible, creative & think out of the box (ways & means to speed up the collection process)
  • Recovery techniques (outsourcing, insourcing, legal, asset conversion, take over, revaluation)
  • Put your house in order (credit evaluation 7cs, management support & involvement, clear SOP & strong credit manpower team, strong tracking systems)
  • Consider collection risk model (cost & benefit analysis)
  • Develop qualities of effective collectors

 


10.45

MODULE 2: BURNING ISSUES IN DEBT RECOVERY

  • Uncontactable/Missing customers
  • Contactable-but can’t afford to pay
  • Avoid payment with thousand reasons
  • Interference from top management on collection section
  • Customer delay payment purposely
  • Incomplete document
  • Financial /Cash flow problem
1:00 Lunch
2:00

MODULE 3: HOW TO DEAL WITH DIFFERENT TYPE OF DIFFICULTY CUSTOMERS

  • Give empty promises
  • Avoiding
  • Giving thousand excuses
  • Annoying attitude

 

3:45

MODULE 4: BE FLEXIBLE, CREATIVE & THINK OUT OF THE BOX APPROACH

  • Outsourcing (collection agency)
  • Insourcing (staff incentive)
  • Asset conversion
  • Business Take over
  • Revaluation of assets

 

5:00 End of Day 1
DAY 2
9:00

MODULE 5: COLLECTION NEGOTIATION TACTICS

  • The building block technique
  • Silence
  • Repeat, repeat…
  • Recess
  • Divide & rule
  • Empathy
  • Re-escalation of demand
  • “One more thing”
  • Deadlines
  • Slicing


10.45

MODULE 6: PUT YOUR HOUSE IN ORDER

  • Outsourcing The Services
  • Provide Consultancy Service
  • Analyse Strategic Decision

 

1:00 Lunch
2:00

MODULE 7: COLLECTION CASE STUDIES

  • Case Study 1 (Negotiation Skill)
  • Case Study 2 (Credit Evaluation)
  • Case Study 3 (Handling Difficulty Debtor)
  • Case Study 4 (Bank Branch Manager Task)
  • Case Study 5 (Head of Credit Controller Task)
  • Case Study 6 (Dealing with NPL borrowers)
  • Case Study 7 (Detecting early warning sign)
  • Case Study 8 (Government Accounts)

 

3:45

  MODULE 8: LEGAL PROCEDURE   

  • What to Do Before Litigation
  • Contents of Letter of Demand
  • Factors to Consider Before Suing
  • Preparation for Suing
  • Preparation for Trial
  • Enforcement of Judgments

 

5:00 End of Course