These workshops were designed to develop skills and expertise of credit and collection professionals and are available as full or half-day programs.
Outside Collection Agency (OCA) Procedures
An in-depth explanation of how OCAs work including:
- Claim Placement: When and how to place your delinquent accounts to ensure the greatest chance of collecting successfully
- In-House Collections: How your account is handled by the OCA
- Attorney-Amicable Action: When and why the OCA would hand-off your account to an attorney in the debtor's locale
- The Legal Process: What to expect when the attorney recommends suit; how to decide if it's worth pursuing; what's next when you say "Yes"
Basic Financial Analysis
Take your department's effectiveness in evaluating a customer's creditworthiness to the next level. They will learn:
- How to evaluate the business of a potential customer
- What financials to ask for, how to analyze them, and what they can reveal
- Cash Flow Analysis, "Eyeball" Analysis, and the Z-Score
Credit and Financial Analysis
Evaluate your current credit process and improve how credit decision making is handled.
- Appreciate the importance of credit in the cash cycle, and what to consider when developing one
- Why your company needs a credit policy
- Analyze financial statements and evaluate a complete credit application
ABC's of Collections
How your collectors can make more effective collection calls.
- Telephone Personality: attitude, voice, approach
- Preparing for the Call
- Conducting the Initial Call: what to listen for, reaching the decision-maker, handling common objections
- Follow-up calls; and the time-value of money
Telephone Collection Techniques
Your collectors become confident and productive collection professionals.
- Knowing Your Customer-Knowing Yourself
- Call Preparation, The 7 Step Collection Call and Overcoming Objections
- Working with 3rd Party Collection Agencies
- Bankruptcy and Litigation
Overview of the Legal Process
Learn when a lawsuit makes sense and has the most likelihood of success.
- When to Sue
- Court Costs and Suit Fees
- The Commercial Lawsuit: Step-by-Step
Overview of Business Bankruptcies
Understand the ramifications to creditors of the two primary business bankruptcy chapters and what you can do to help protect your interests.
- Chapter 7: Corporate Liquidation
- Chapter 11: Business Reorganization
If you'd like to have our expert trainers educate your staff, contact us.