FormatechEdu

Course Outline


Cash Collection

Duration

6 Hours

Language

English

Summary

Asking for payments can be intimidating; the attitudes of customers with outstanding payments can be very negative, even to the point of them sounding like they are not in a position to pay.

This workshop was designed to help participants understand the principles and methods of collection in addition to the collection cycle in order to strengthen this skill and accordingly reach higher numbers.

Target Audience

This workshop is targeted to people, from all levels, involved in the cash collection process and cycle at any stage.

Skills Gained

By the end of this workshop, participants will be able to:

  • Increase their motivation and self confidence

  • Understand the difference between aggression and assertiveness

  • Brainstorm practical solutions for money collection

  • Know what to say and how to say it

Topics Covered

1.      Principles of Collection

  • Collect the money
  • Systematic follow-up
  • Discussing the account
  • Preserve goodwill

2.      Methods for Improving Collections

  • When do I start?
  • Who to contact?
  • How should you collect--by letter, telephone, email, in person?
  • How often to follow-up?
  • When should litigation be considered?

3.      Assertiveness

  • What is assertiveness?
  • Understanding and becoming aware of your own communication style
  • Dealing with different types of behaviour - assertive, passive, aggressive
  • Assertive techniques for collecting cash
  • Explore of assertive responses to everyday situations

4.      Collection Cycle

  •  Invoicing
  • Delivery
  • Invoice due
  • Receiving payment

Methodology

  • Learning concepts / Presentations
  • Role plays and case studies
  • Group activities and discussions
  • Individual and team exercises
  • Tips and tools
  • Educational videos
  • Draft an individual action plan