Developing Revenue and Debt Collection Skills

Code

839

Start Date

2024-12-08

End Date

2024-12-12

City

Dubai

Price

2950 $

Language

Participants

1-15

Hotel

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Introduction:

This course aims to qualify business owners, managers, and employees to understand the important principles and methods of revenue and debt collection, as well as clarify the necessary and acquired skills for collection officers. It covers the steps and means of collecting receivables and debts from both willing and unwilling debtors, as well as delinquent and uncollectible debts. Additionally, it addresses the importance of customer databases, their updating and analysis, as well as revenue collection, measurement methods, and how to prepare and interpret performance metrics.

Objectives:

Acquire debt collection skills.
Gain an understanding of the key principles and methods of collecting financial receivables and overdue debts across various sectors.
Raise awareness among employees about revenue collection techniques.
Familiarize participants with global best practices in revenue and debt management.
Understand the accounting procedures related to debt transactions.
Acquire the necessary skills for collection officers.
Develop negotiation skills related to debt collection.
Utilize negotiation skills in collection processes based on customer profiles.

Target audience:

Managers and business owners.
Accountants in governmental and public service units.
Individuals seeking to enhance their skills and expertise through this course.

Training course content:

Introduction to debt management (customers).
Behavioral analysis in dealing with customers.
Importance of customer databases, their updating, and analysis.
Skill of decisiveness and prompt decision-making.
Communication and interpersonal skills.
Understanding human psychological aspects.
Balancing gains and risks.
Negotiation skills, flexibility, and persuasion techniques.
Negotiating the debt amount.
Negotiating commission and management fees.
Negotiating payment schedules and methods.
Negotiation elements with difficult customers.
Negotiating conflict resolution.
Approaches to achieving negotiation outcomes.
Debtor accounting:
- Origins of debtors.
- Debtors' evaluation.
- Doubtful debts.
- Estimating doubtful debts as a percentage of debtors' balance.
- Bad debts.
- Collecting debts that were previously classified as bad debts.
Strategies for repayment mechanisms.
Causes of delinquent debts.
Managing delinquent debts.
Diagnosing delinquent debts.
Predicting default.
Budgeting.
Delinquent debt cycle.
Financial analysis (debt ratios).
Debt documents and their usage.
Invoicing and statements of account.
Requesting payment and follow-up.
Diversifying payment methods.
Identifying the exact payers of receivables

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