Skills and strategies to improve debt recovery
Small Business Owners:
"Effective Debt Collection Strategies" is about controlling the activities of debt collection with systematic strategies so your customer knows you are serious about the credit you provide and you want to be paid by due date?
My Experience to Deliver this Course
I am a business manager, qualified trainer and small business owner. My background has been in office administration and then business management for over 25 years in 20 different industries. Cash flow control and cost management in addition to accounting, budgeting and debt collection has been my strengths. So I would like to share my knowledge and experience with small business owners to increase their recovery rate of customer debt.
What You Will Learn
Skills and Strategies to improve Customer Debt Recovery
Cost of Running a Ledger
Evaluating Office Procedures
Policies and Procedures
Strategy to Reduce the Current Debt
Step by Step Advice and a Strategy to Manage Overdue Invoices
What am I going to get from this Course?
For Small Business Owners in Particular:
For Current and Future Bookkeeping, Accounts Receivable and Administration employees and students:
Join me in the course
I am sure you are like most people who go into business; you are doing it to make money, and you feel you need to give credit to make sales. Debt collecting costs you money. So let's give you a new strategy of running your business, so you can reduce that cost considerably and keep a good relationship with your customer.
Introduction of the topics in the course such as rules and strategies, how to avoid legal action and the importance of following up on overdue invoices
A detailed discussion of the benefits of the course such as saving money, an efficient system and the control of engaging a strategy in debt collection
The various activities required to manage an efficient ledger are described and the cost of labour in collection activities is expalined
The costs of writing off a sale and the consequences of that write off are discussed, what sales are needed to be generated to break even. Spreadsheets are used to demonstrate these costs and the hidden costs revealed.
Cost of running a ledger include
This lecture discusses improving office procedures and what you should do to assess the current state of the office processes. A case study is presented to demonstrate the importance of everyone following correct procedures.
Introduction to Policies and Procedures and why they are important to a business. What is a policy and what is a procedure and why a business should have a Credit Policy and Management Plan
This lecture describes the step by step strategy to reduce the business current customer debt and bring the ledger under control.
Efficient debt collection requires the ledger to be up-to-date. This lecture explains the activities required to keep payments up to date, complaints kept to a minimum and the sort of detailed reports that should be produced.
for the customers who do not pay by due date, there is an overdue invoice strategy. This strategy includes how to use collection letters and when to make contact with the customer. Also included the installment payment agreement.
This lecture lists various common customer excuses and how to deal with them. There is also a list of other excuses in the resources of the course.
Meetings to monitor the customer debt are an integral part of monitoring overdue customer invoices. An agenda template is included in resources of this course
There are 6 basic questions in the phone script. This lecture goes through the preparation before the phone call to the customer.
Each question is discussed and advice is given on what to say and further questions to ask the customer in order to get the answer of when payment will be made.
Cash flow problems: how to recognise a customer has cash flow problems and what you can do about it and delinquent debtors.
A list of 10 ways to control customer debt and a list of targets for improving business practices.
Zanette Phillips is an entrepreneur, business manager, qualified trainer and small business owner. She currently the owner and manager of Biz Skills business training based in Cairns, Queensland, Australia.
Her background has been in office administration and then business management for over 30 years covering over 20 different industries. Cash flow control, cost management in addition to accounting, budgeting and debt collection has been her strengths.
After completing a training qualification in 2003 she designed and delivered training courses in debt collection born out of concern for many small business owners trying to manage their cash flow. Zanette believed there had to be a more active proactive way of approaching the problem of customers not paying their accounts by due date and founded Biz Skills in 2012 to develop a course that would deal with the whole system encompassing accounts receivable, policies and procedures and evaluating office procedures plus good advice so the small business owner could learn strategies to be proactive and take control.
Her qualifications include a diploma of accounting and certificates in small business management and quality assurance management. Zanette has recently written a book 'Don't Let Your Customers Run Your Business' which is available on Amazon.