Debt collection plays an essential role in any business. For accountants and finance professionals managing accounts receivables, the ability to assess the likelihood of recovery within the first few minutes of a conversation with a debtor is a vital skill. All personnel involved in the collections process, whether in accounts receivables, credit control or broader finance functions, must be trained not only to identify payment risks early but also to handle such interactions with diplomacy, tact and a sound understanding of psychological behaviour. Legal action remains a last resort, given its cost and time-consuming nature.

This course equips participants with practical techniques to minimise bad debts and strengthen profits through one of the most effective yet often underutilised tools: the telephone. Drawing on real-world case studies, the session is case based, interactive and highly practical, designed to help participants apply what they learn directly to their day-to-day receivables management and recovery work.

At the end of this course, you will be able to:

1. Apply an effective credit control process to lower receivables risk;
2. describe the legal procedures involved in Singapore’s civil claims for debt recovery;
3. identify the key attributes of an effective collections person;
4. execute appropriate collection techniques in telephone and face-to-face scenarios; and
5. recognise different debtor profiles and appropriate strategies to manage them.

Programme Outline

• Lowering your risk factors – Developing & maintaining a credit control process & system
  • The importance of having a credit control system
  • Causes of delinquency (external & internal factors) in receivables
  • Establishing policies
  • Examples of general collection policies
• Knowing your legal rights – Understanding Singapore’s Courts civil claims procedures
  • Learn the different functions of the Small Claims Tribunal, State Courts & High Court
  • The process of a civil claim from the Writ of Summons right up to a winding-up/bankruptcy order
• Attributes of an effective collections person – The different characteristics required to make a collections person effective
  • Different characteristics a collections person can adopt to be more effective during a collections encounter
• Collection techniques – Simple, practical & effective techniques to adopt during a face-to-face or telephone collections call
  • “Taboo” words never to use during a collection call/visit
  • The art of being in control of a conversation
• Understanding the various debtor profiles – Know the different types of delinquent debtors & how to deal with them
  • Identifying the different types of delinquent debtor profiles & how to manage them
• Handling excuses & objections, gatekeepers etc. – How to tell the difference between an excuse or a real objection & how to counter them
  • “I’ve already sent out the cheque”; “The boss is not around to sign the cheque…” Learn how to differentiate between an excuse and a genuine objection to non-payment & how to counter them
  • How to get past receptionists, secretaries or personal assistants etc. who are a barrier to getting to the correct person
• Case Studies and Practical Examples

Training Methodology*

 

Intended For

This course is designed for accountants, finance professionals, accounts receivables personnel, credit control officers, sales and marketing staff, and business owners involved in credit management, collections, and customer payment processes across various business sectors.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)