Objectives

This one day course is intended to introduce the concept of negotiating techniques to be used when influencing and persuading debtors to pay.

The course can be tailored for both the consumer credit industry and trade credit environment. 

Content

• Introduction to the course – why influencing and negotiating skills of the collector are the most value skills in collecting money.
• Identifying your own personal influencing style and how to develop it further
• Using the right method of influencing and persuasion for a range of different customer types.  
• Understanding the signals being sent by the customer and if to use the ‘carrot or stick’ to motivate them to pay. 
• Understanding basic types of Negotiation, strategies and tactics
• Negotiating upwards and downwards to achieve the best success rate

Learning closing techniques to ensure the customer knows what is expected of them and from you

Objectives

This TWO DAY course is intended for consumer credit and those collecting debts from individuals.  It introduces and examines the ‘mind of the collector’ versus ‘the mind of the debtor’. The way that we communicate will impact the quality of our work and therefore this course looks at the dynamics of conversation and how we can improve results by improving our own communication both verbal and non verbal.

The course can also be tailored for the trade credit environment. 

Content

• Introduction to the course – the basics of communication and interaction
• Its all in the mind - What do we mean by psychology and why it is important to understand what makes people tick
• Game playing – understanding why people play games when they are under pressure to pay
• It’s not what you say but the way that you say it - learning the language of positive collection and avoiding the ‘red rags’ in communication
• To pay or not to pay - Understanding different types of debtors and what motivates them pay or not to pay
• The formula and strategies for successful collection – the right mind set
• How to influence and negotiate payment
• Reading the signals – what makes a debt become uncollectible
• Improving the relationship with your customers and understanding why they fear being asked for money
• Handling difficult and angry customers and still feeling ok
• Persuading people to pay by adopting strategies to suit every debtor type
• How to close the call and ensure people stick to their commitment

How to stay positive and motivate when all around you are negative

Objectives

Intended for ;
New and experienced managers seeking better understanding of management concepts and who may not have any formal management training.  The programme will be particularly relevant for individuals wishing to go beyond ‘credit management specific’ skills and are ready to develop their management performance and people skills.

Content

• Communication - The key to success.  Effective communication skills using NLP (Neuro Linguistic Programming) including behaviours and body language
• Influencing and negotiation skills
• Power its impact on influencing, sources of and use within organisation
• Conflict - methods for minimising, managing when it arises
• Motivation – how to get the best from other people and yourself
• Leadership and Management - Similarities and differences. Models of leadership and developing your own style.
• Teams and Teamwork - Team development life cycle and case study
• Managing in a busy organisation/personal effectiveness
• Managing Organisational Change and recognising the impact upon team performance
• Customer Relationship Management within a credit environment
• Time management - identifying common timewasters
• Meetings - process and constituents of effective meetings
• Planning & smart objectives  - identifies methodology for planning and importance of SMART objectives

Post workshop action plan – Action plan identifying what delegates want to work on and how they will achieve etc. – Identifies concrete actions and commitment as a result of the workshop

Objectives

Intended for anyone taking the first step into a management position.  This programme has been especially designed for those who are moving from being a team member to a manager.  It introduces essential skills of time management, people resources, delegation, decision making and leadership.

Content

• Recognise the qualities of a successful manager and avoid the pitfalls and mistakes of the ‘new’ manager
• Identify the personal changes required for successful transition from team member to the boss
• Prioritise and manage your time
• Review of Credit Policy and effectiveness of collection procedures
• Managing people for the first time and building a high performing team
• Giving and receiving feedback to promote cooperative team behaviour
• Delegation – the art of successful delegation
• How to resolve conflict confidently and positively
• Identify the right skills for the job - understanding and setting SMART objectives for the team

Motivating the team while staying motivated yourself

This course is designed for those new to export or overseas business.

It introduces the differences in payment terms and delivery terms applicable in international business and how these impact collection and risk.

The participants will understand the various export procedures and additional documentation required for payment which will reduce queries and payment delays, and assist them to recommend appropriate terms for delivery and payment.

This reviews the additional risks and processes involved in managing business overseas, including delivery terms, payment terms and methodology, and how these can be used advantageously to improve collection performance.

It is targeted at supervisors or credit managers who has responsibility for the process.

This reviews the enforcement options open to a company when a debt goes bad and how to structure the contract process initially to maximise the chance of recovery in the future. It explores how to use UK courts to enforce overseas debts and once a UK judgment is obtained, how to realise the funds.

It builds on basic processes covered by the previous three courses.

This two day course includes elements of all the above 4 courses enabling a manager responsible for international credit granting and collections to develop a strategy or review their existing processes to improve performance.

It specifically looks at how to use local custom and practise to work in the seller’s favour improving sales and subsequent collection activity.

Methods of risk reduction and mitigation are reviewed.

This addresses the various payment methodology and payment terms used in Europe and how these can be best utilised to reduce risk and get paid more quickly.

It will assist the credit granter recommend more appropriate terms for the different countries.

Similar in scope to the European collection module, this reviews payment terms and methods in Africa and the Middle East to enable credit staff to recommend appropriate terms in those countries and improve collection performance.

Designed as a working module for both sales and credit staff to access methods to safely offer easier payment terms to overseas clients, building market share, increased margin and competitive advantage.

Using a case study method, participants will understand how careful use of credit has enable companies to grow successfully in otherwise difficult markets.

Also designed as a module for both sales and credit, this course reviews the sales contract and order fulfilment processes to ensure the company gets paid, on time and as quickly as possible.

It also addresses those circumstances where the seller has to accept the buyer’s purchase conditions for commercial reasons, but looks at how those can be risk managed and where they need to be negotiated.

This reviews the benefits and considerations related to selling on credit terms where the seller has the protection of a credit insurance policy. It looks at the pitfalls of the various policy terms and how to overcome them.

It will assist a manager looking to buy insurance to select the most appropriate policy for their needs.

This addresses the various working capital requirements within a supply chain and how the implicit asset at each stage can be used to generate funding.

It looks at the problems associated with funding the ‘dream’ order which would otherwise be to big for the company to handle.

Many businesses are consolidating customer administration, credit granting and collections activity into single service centres in one place.

Particularly targeted to Europe Middle East and Africa, this one day workshop reviews the local credit terms and payment methods and how these can be accessed to improve collections.

It addresses the issues facing managers looking to consolidate into a single operation and how some of those difficulties may be overcome.

INTRODUCTION TO THE COURSE

Setting the scene – the customer base, markets and commercial factors
Why make an assessment?

BUILDING A SET OF ACCOUNTS
What is a profit & loss account?
What is a Balance sheet?
What are the key components?

THE CUSTOMER
Different legal entities, Information available
The Credit Application Form

INTERPRETATION OF ACCOUNTS
Analysing a real life company set of accounts
Positives and negatives, The key ratios, what are they and what do they mean
Looking behind the figures

PROTECTING THE INVESTMENT
Working to credit limits or exposure levels and minimising the risk
Terms & Conditions, Retention of Title, Guarantees
Warning Signs

PRACTICAL WORKSHOP
Assessing the Credit Risk using Credit Reports

CREDIT CONTROL OVERVIEW
        
THE TELEPHONE
Advantages & disadvantages
How delegates see themselves - strengths & weaknesses
Company image

THE CALL STRUCTURE
An interactive look at the collection call, identifying pitfalls & opportunities
Setting objectives & controlling the call.      
Identifying customer type - matching collection styles to the customer

CONTROLLING THE CALL
Communication skills, Questioning techniques
Problem solving - overcoming the excuses not to pay
Reaching an agreement

THE DIFFICULT CUSTOMER
Aggressive/assertive/submissive behaviours
Staying calm, polite and focused

CLOSING THE CALL
Making notes, Summary & Analysis, Follow up Action

PRACTICAL EXERCISES
Follow up of delegates 'real life' debt collection experiences

Sessions One to Four:
Those who work for organisations and need to understand for 'Managing the Risk' with Customers and to become familiar with financial statements and financial analysis. It is an introductory seminar.

Sessions Five and Six:
For those who are required to deal with customers and  the issues and problems that this brings in a professional and non confrontational manner and at the same time achieving the objectives of the credit department

Duration:
This is an intensive one-day programme with exercises and group work.

Course Objectives:           
By the end of the seminar delegates will:

• Be familiar with financial jargon
• Work their way through the Profit & loss, Balance Sheet & Cash Flow Statements
• Understand the importance of and the use of Financial Ratios
• Be aware of non financial risks
• Understand the importance of negotiations

Develop the skills needed to deal with difficult situations / customers.

Target Audience:
Those who own and runs their own business or anyone in a larger organisation who is new to the profession and who have taken on credit control as part of their duties. Also for non credit staff for whom an understanding of credit control would be an advantage

Duration:           
This is an intensive one-day seminar with exercises and group work.

Course Objectives:           
By the end of the seminar delegates will:

• Gain confidence in and become aware of the best methods of cash collection
• Gain knowledge of credit information systems and their uses
• Understand how customer information can be used as a marketing tool
• Be able to use information available to them ‘back at the ranch  in a more effective way to benefit both credit control and sales

Understand that without effective credit control  organisations do not make the most of their major asset – Cash tied up in the Sales Ledger

Designed for;
Credit controllers, credit underwriters and credit analysts who already have a basic understanding of balance sheets and profit & loss accounts and who require an in-depth understanding of a full set of accounts including the notes, reports and accounting policies.

Duration;
Registration 09:30 Workshop 10:00 - 16:30

Aims;
To enable delegates to increase their understanding of the key financial statements, to enhance their analytical skills in assessing the strengths and weaknesses of an organisation and to use the accounts for credit scoring and setting of credit levels.

Learning objectives;
This course has been designed so the delegates will be able to:

• Understand the movement of money in a business
• Interpret a set of accounts
• Spot creative accounting
• Explain the notes, reports and accounting policies
• Calculate relevant ratios
• Appreciate accounting principles, and rules
• Understand the split between fixed and variable costs and the calculation of break-even, margin of safety and operational leverage

Course content;
The business model

• Depreciation 
• Stock valuation
• Gearing
• Share premium
• Revaluation Reserve
• Leasing
• Hire Purchase
• Credit Scoring
• Creative accounting

The profit and loss;
Ratios to assess profitability, activity, liquidity, control, financing, debt capacity investment

Training Method;
Workshop, case, study & exercises

A Risk Assessment Workshop

Target Audience;           
Credit underwriters who are new to, or need a refresher on, understanding balance sheets in order to make a responsible credit decision; or anyone in an organisation who is required to understand financial statements or different aspects of them.

Duration;           

This is an intensive one day seminar with exercises and group work on sample case studies.

Course Objectives;           
By the end of the seminar delegates will;

• Understand the source of data that are used in the main reports
• Recognise the use and value of the main accounting reports
• Be able to construct simple Balance Sheet, Profit & Loss and Cash Flow statements

Recognise the decision making process for capital or project expenditure

Course includes

- Pre-legal advice
- Credit checks
- Status of Customers
- Court system
- Court Proceedings
- Defences
- Counterclaims
- Judgments
- Summary Applications
- Enforcement
- Enforcement Review
- Bankruptcy
- IVA
- Bankruptcy Offences
- BRU/BROs
- Company IVA
- Administrations
- Administrative Receiverships
- Liquidations
- MVLs
- Directors Offences

Legal Aspects of Consumer Credit
- The Statute
- The legal implications
- European Directives
- Practical Applications
- Licencing
- Office of Fair Trading

Business Law
- English Legal System
- Sale of Goods
- Trades Description
- Contract Law
- Law of Agency
- Cheques

Credit Management Law
- Formation of Company
- Formation of Partnership
- Consumer Credit
- Consumer Credit Advertising
- Other Statutes
- Data Protection

Having qualified as a graduate member of the Institute of Credit Management, Jill went on to teach ICM students at her local college.

An active member of the Bristol & West of England ICM Branch, she sat on the committee for over 10 years holding positions of Student Officer, Social Organiser and Branch Vice Chairman.

After working for many years in the construction industry dealing in all aspects of Credit Management and connected areas, she now specialises in consultancy and training in this vital subject.Jill now works for a number of organisations including the Institute of Credit Management and Experian (Ireland).

As well as presenting public training courses this involves her in on going training and development with a wide range of different.

Pam has extensive training and management experience gained through a variety of roles in banking and corporate finance sectors. She holds a post graduate degree in education and training, is a member of the Institute of Training and Occupational Learning (ITOL) and the Institute of Credit Management (ICM)

Professional Experience
Pam has gained over 15 years of corporate credit management experience working with a number of international organisations providing her with a thorough understanding of people management, sales, finance and customer care.

Pam now concentrates on credit management training and education working extensively with Thames Valley University to develop the first BA Hons and degree foundation degree in credit management. She also runs coaching and mentoring programmes for organisations coaching individuals to achieve personal and corporate success.

Specialist Skills
Pam’s areas of specialisation include delivering training programmes in credit management, interpersonal and communication skills, one to one and business coaching, instructional programme design and delivery plus consultancy skills.

She has a good understanding of processes within the business environment and the ability to respond to the pressures and issues facing teams and management in today’s ever changing economical climate.

Glyn has been involved in Credit and Sales Financing for some thirty years. He has worked for major companies such as Diageo, Xerox Phillips and GATX in various financial positions.

He has started sales financing operations and leasing in Europe, Middle East and Africa, before starting his own Trade Finance house.

Glyn is a Member of the Institute of Export and a Fellow of the Institute of Credit Management, where he is also a member of their Technical Advisory Committee.

He lectures extensively on Credit and Collection issues and writes for Croner's Journal of Credit Management and the ICM's Credit Management journal on export collections and credit insurance issues.

He is the co-author of Tolley's Effective Credit Control and Debt Recovery and Gower's Credit Management Handbook, the definitive text on Credit Management today.

Jackie has been involved with providing training courses for the Credit industry for the past 14 years. She has taught the ICM Legal Proceedings and Insolvency, Credit Management Law and Business Law courses. She has also lectured for the ICM national seminars on the subject of the Legal Aspects of Consumer Credit and Debt Recovery Through the Courts. Jackie has also been contributing to the ILEX courses on Insolvency.

Jackie works for Brethertons LLP based in Banbury and Rugby dealing with commercial litigation including debt recovery for both trade and consumer clients. The Commercial Recoveries Department has expanded enormously over the last few years and there is now a team of 28 servicing the blue chip client base.

Jackie is Treasurer of the ICM Branch in Northamptonshire and has been an assistant examiner for the ICM on law related topics. She is also a winner of Credit Today Litigator of the Year in 2006