Bad debt is a serious matter for any company. It has been known to ruin otherwise successful concerns. However, it is essential to ensure that your debt collection activities result in payment of the outstanding amounts, without damaging your customer relations. This training course will enable you to do just that.
You will learn to understand the importance of credit control and debt collection, plan an effective debt collection programme and acquire proven techniques for written and telephonic debt collection.
Participants will learn the art of implementation of simple and proven credit control processes in order to minimise the risk of long-term outstanding debt. Participants will also learn how to effectively collect outstanding debt without damaging the supplier-customer relationship.
Who Must Attend
- Credit Assistants, Executives & Managers
- Finance, Accounts & Admin. Executives & Managers
- Executives to Senior Managers
- Marketing Professionals in-charge of collection.
Module 1: Overview of the Laws and Regulations of Malaysia in Debt Collection & Recovery
Debtors Act 1957
Fair Debt Collection Practices (Set by Bank Negara)
Personal Data Protection Act 2010
Limitation Act 1953
Module 2: Company Credit Terms and Debt Collection
Reviewing the credit cycle from application to payment
Identifying possible causes of outstanding payments
Assessing the impact of outstanding debt on your company's financial results
Identifying ways in which you can motivate your customers to pay their outstanding debts
Methods of assessing Credit Risk
Assessment based on 5 C
How to develop a Credit Rating System
How to design and monitor and aging report for outstanding debts
Difference between debt and payment default
Module 3: Debt Collection and Recovery Techniques
Statement of Account, Reminders, Letter of Demand
Aged Debtor List
Establishing procedure for overdue debt – using outside debt collection agencies
Legal Proceeding to recover bad debts
Outsourcing of Account Receivable functions
Complying to debt accrual date to date of commencement of collection – to ensure not bound by limitation period.
Module 4: Collecting debt as a vital financial activity
Completing debtor reports as an effective debt management tool
Setting definite and realistic debt collection targets
Comparing your debt collection results to your initial objectives
Exercise: How to analyse the return-on-investment of your debt collection activities
Module 5: Planning and preparing for effective debt collection
Classifying your debtors to enable a well-targeted approach
Using the debtors classification to analyse the potential risk each debtor poses to your company
Drawing up a collection checklist to facilitate systematic collections
Exercise: How do you decide whether to collect the debt by telephone or by letter?
Module 6: Ensuring the success of your debt collection correspondence
Correspondence methods – in writing / sms / whatsapp (Crediblity and Integrity of each communication method)
Should you threaten "Pay up or else" or paraphase to a more effective and customer friendly message?
Why are you not able to get your debts back?
Are you getting the right or wrong person to recover debts? Because only getting to the right person guarantee results.
Module 7: Using telephone to collect debts
How to deal with angry and aggressive customers?
How to cut out personal excuses and link to company objectives to collect debts?
How to turn promises to pay into commitment to pay
How to use mutually agreed payment dates and reminders to ensure debt is paid.
Should I be friend or assertive and authoritative when closing calls?
How to close calls amicably and get debtors to even call back.
Module 8: Debt Recovery through the Legal Process
When do you need legal action to recover debts?
What is a limitation period?
How to issue Letter of Demand?
Commencing an action in Court
Ways to recover the Judgment Debt & do you need them?
Judgment Debtor Summons
Writ of Seizure and Sale
Order of Committal
- Highly Interactive Session, with a bilateral approach to the subject matter allowing participants to share incidences at respective work locations.
- Short Video Presentation
- Mind Mapping and Recap Sessions
- Workshop Session – allowing participants to have a hands-on participation in the application of planning, implementation, execution and compliance inspections strategies and work in synergy with other participants
- Ice Breaking / Monotony Breaking Sessions – Purpose of rejuvenating the mind
- Encourage team work
Suresh Kumar LL.B (UK)
Suresh Kumar is a trained and certified Risk Management professional in the area of Supply Chain Risk Management and Brand Protection. He attained his Bachelor’s Degree in Law from the University of Wolverhampton (UK). He then went on to be trained and certified as an auditor and practitioner in the specialized area of Risk Management under the auspices of United States of America Customs and Border Protection (Customs Trade Partnership Against Terrorism- CTPAT Standards); and; Transported Asset Protection Association (TAPA Standards), Asia. He is also a Human Resources Development Trainer certified by the Human Resources Ministry.
He is currently the Managing Director & partner of Paradigm Group of Companies specialized in providing risk management / assessment services for internal / external associates; Consultation on Supply Chain Security Risk; Brand Standards / Management / Protection; Contract Management; Outsourcing & Subcontracting; and; Human Resources training and development programmes on various specialized topics, predominantly, Risk Management related subject matters, either on an one off or Project basis.
In view of this, he is now working in collaboration with the Malaysian Anti Corruption Commission and the Malaysian Institute of Integrity on Community Development and Awareness programmes in relation to Anti Bribery and Corruption initiatives in Malaysia.
List of clients that have participated in S. Suresh Kumar’s training and workshop sessions:-
Ornapaper Industry Sdn Bhd
F&N, Kuching, Sarawak
Bank Islam, Malaysia
Anti Bribery & Corruption Compliance Training and Consultancy Programme
Leopad Group Malaysia
KOSMA Holdings Sdn Bhd
With his background of a law degree, he is able to invoke legal implications in his programmes to make it more comprehensive and value added substance. In addition, his fluency in English and Bahasa Malaysia enables him to conduct training programmes effectively in both languages.
Prior to his involvement in this field, the facilitator has wide working experience throughout his 15 years of working career in the specialized area of Risk Management, Security Management and Investigations (HR, Security (Operational and Information Security) and Safety, Corporate Governance and Ethics). Being a Head of Department in each of this portfolios, he has acquired substantial job related knowledge and experience in sectors comprising of Manufacturing, Telecommunications, Hospitality Management (Brand Standard & Management) and Contract Manufacturing (Brand Protection and Management). He is also a trained Workplace Counselor and by virtue of his portfolio of having to deal with people of different job hierarchy, he has very profound people management skills, negotiation skills and effective interaction skills. His previous employers and related portfolios are as follows:-
- Infineon technologies (M) Sdn Bhd – Security Manager (Backend Manufacturing Plant, Melaka)
- Celcom Axiata Sdn Bhd – Manager, Head of Risk Management (Nationwide)
- Rennaisance Melaka Hotel (Marriott International) – Loss Prevention and Brand Standard Manager ( Melaka Hotel Facility)
- Flextronics Penang - Loss Prevention Manager ( 5 Contract Manufacturing Sites in Penang)
We have a faculty of specialist and can cater to your organisation's different levels and specific needs.
For training and advisory services, feel free to contact us at firstname.lastname@example.org or call us at +603 8082 3707 | +603 8074 9056 | +6012 6869 628 | +6018 2175 123
“Before attending the course, I feel demotivated as I unable to engage with customers. However, during the course, I learned the way how to engage with customers. I feel more motivation and have more idea on how to engage with customers. Overall, it is an excellent training by Mr. Soo. I personally like the topic related to credit manage,ent and credit assessment.” – YH, Tan, Credit Control – See Hoy Chan Sdn Bhd
“I feel there is a need to learn more on debt prevention and collection. During the course, I got to learned what I needed which is the strategies and effectiveness of debt collection. After the course, I feel the objective of this training is achieved. Soo is knowledgeable and good ability to deliver the training successfully. I particularly like the topic related to strategies of collection.” – Nor Azlina, Senior Associate – Pos Malaysia Berhad
“Before the training, I feel that I have minimal knowledge about debt collection. However, during the course, I gained a lot of knowledge on strategies and effective to do collection during the training. I feel the training objective was achieved. Soo has very good knowledge on collection and he delivers the subject very well. It is a very good training to attend. I particularly like the topic related to strategies of collection.” – Siti Adiya,Senior Associate – Pos Malaysia Berhad
“After the course, I see the importance of credit control to a company. Soo is very aggressive and well experience trainer. I learned about strategies of collection through this training and all areas covered by Soo were great.” – Norhayati Alias, credit controller – Merck Sdn Bhd
“I learned how to handle difficulties on collection when dealing with customer. After the course, I fell how important the role as credit controller to the company. Soo has good experience, presentable and well knowledge on credit management. I particularly like the topic related to influential skills.” – Serene Chan, Senior Credit Management Executive – Merck Sdn Bhd
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