Debt Collection Management for Advanced Level

Overview:

Introduction:

Effective debt collection is crucial for maintaining the financial health of businesses. As companies face diverse challenges in recovering overdue payments, advanced skills in debt collection management are necessary for optimizing cash flow, minimizing financial risks, and ensuring compliance with legal standards. This training program is designed to equip professionals with cutting-edge strategies and in-depth knowledge in managing debt collection processes, negotiation techniques, and navigating legal complexities.

Program Objectives:

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

•  Master advanced debt recovery strategies and techniques.

•  Develop skills to manage complex negotiations with debtors.

•  Understand and apply legal frameworks and compliance requirements in debt collection.

•  Optimize communication and dispute resolution processes for effective collections.

•  Analyze financial risks and implement strategies to minimize potential losses.

Target Audience:

•  Senior credit controllers.

•  Debt collection managers.

•  Financial managers and directors.

•  Credit risk analysts.

•  Legal professionals working in debt recovery.

Program Outlines:

Unit 1:

 Advanced Debt Recovery Strategies:

• Strategic Planning for Debt Recovery.

• Identifying High-Risk Debtors.

• Implementing Collection Tactics.

• Working regularly with Third-Party Collection Agencies.

• Maximizing Recoveries from Difficult Debtors.

Unit 2:

Legal Frameworks and Compliance in Debt Collection:

• Understanding Debt Collection Laws.

• International Standards and Regulations.

• GDPR and Data Protection in Collections.

• Litigation and Legal Action in Debt Recovery.

• Ethical Debt Collection Practices.

Unit 3:

Financial Risk Analysis in Debt Collection:

• Techniques of assessing Financial Health of Debtors.

• Credit Risk Scoring and Modeling.

• Managing Bad Debt Provisioning.

• Cash Flow and Liquidity Management.

• Cost-Benefit Analysis of Debt Recovery Efforts.

Unit 4:

Negotiation and Communication Skills for Debt Recovery:

• Advanced Negotiation Techniques.

• Managing Debtor Objections and Refusals.

• Conflict Resolution in Debt Collection.

• Communication Strategies for Collections.

• Cultural Sensitivity in Global Debt Recovery.

Unit 5:

Technology and Automation in Debt Collection:

• Automation Tools for Debt Recovery.

• AI and Machine Learning in Predicting Default.

• Digital Payment Solutions for Faster Collection.

• Using Data Analytics for Debt Recovery.

• Cybersecurity and Debt Collection.