Negotiated Collections Workshop
This program is designed to make participants understand and apply the skills of collecting and negotiating the terms of payment with delinquent clients.
Participants will learn the sources of delinquency, the degrees of delinquency and different techniques of collection to apply to each.
The second part deals with negotiating as it applies in collections. This section starts with an explanation of how and why preparation is the key to real power in any negotiation. The steps in negotiating include how to open the discussion, how to probe and make a proposal for settlement, responding to excuses and/or settlement proposals, and making counter proposals in an assertive manner. Powerful negotiating gambits to ensure that the client adheres to the commitments he made will also be covered.
By the end of the workshop the participants will improve their understanding and application of the skills of collection and negotiating terms of payments with delinquent clients.
Method: Lectures, role-plays and experiential exercises, critique and processing of exercises
Intended Audience: Officers and staff involved in Collections.
Workshop Outline
I. The Vital Role of Collections
- Profitability: A Balancing Act Between Customer Service and Collections
- Why it pays to keep the customer: Computing his lifetime value
- Why it pays to have a strong collections effort: computing delinquency impact on profit
- Understanding the concept of Hierarchy of Payments: People have money but are you their priority?
II. Structure of a Negotiated Collections:
- Collector Modalities: Are you a Giver, Taker, or Balanced Collector?
- Understanding the concept of Opening, Escalating & Final Offers
- Determining Entry & Exit Points
III. Stages of Collection
- Preparation
- Opening
- Investigating: Using questions to persuade the client to pay
- Customer Excuses and How to Handle them
- Motivating Customers to Pay
V. Suggesting Plan of Action
- Assertive Communication in Making Proposals and Offers
- Steps in Escalating Offers
- Responding to Payment Proposals and Making Counter Proposals
- Negotiating For Better Payment Terms
- Powerful Collection Gambits
- Identifying & Countering Customer Ploys
VI. Ending the Call & Obtaining Promise to Pay
- Following up on Promises to Pay
- Handling Irate Customers
- Invoices will be sent to the registered email address.
- Full payment is required a week before or at least five working days before the training schedule. Please send your proof of payment to trainings@eccp.com and/or gazzlemae.gatlabayan@eccp.com.
- No shows and late cancellations will be billed at full cost. Cancellations should be made a week before or at least five working days before the event. Replacement is encouraged.
- The ECCP reserves the right to reschedule or cancel this training program. Final confirmation of program date is advised at least two (2) working days before the program start date.
- To those attendees who will be arranging travel logistics (flights and hotel), please email us first to confirm if the event is pushing through.
For registration inquiries, please contact Sam Aguirre at sam.aguirre@eccp.com.
