Trainings

Negotiated Collections Workshop

17 Feb to 22 Feb
Trainings

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 two-day 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

Duration: Four (4) three-hour sessions

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. Collection & Negotiating Skills

  • The value of Empathy
  • Listening Skills: encouraging the client to talk
  • Speaking Skills: developing an authoritative yet pleasant tone

III. Structure of a Negotiated Collections

  • Collector Modalities: Are you a Giver, Taker, or Balance Collector?
  • Understanding the concept of Opening, Escalating & Final Offers
  • Determining Entry & Exit Points

IV. Stages of Collection

  • Preparation
  • Opening
  • Investigating: Kinds of Questions to use
  • Customer Excuses and How to Handle them
  • Motivating Customers to Pay

V. Suggesting Plan of Action

  • Assertive Communication
  • Developing Proposals and Offers
  • Steps in Escalating Offers
  • Responding to Payment Proposals
  • 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


  • Europe-PH News

  • August 09, 2022

    Start ‘em young: Simple Ways to Show Kids How to Save Money

    Despite understating the importance of discussing financ... Read More

  • August 05, 2022

    JFC disappointed on transport safety board veto

    The Joint Foreign Chambers (JFC) in the Philippines, composed of s... Read More

  • July 27, 2022

    A consensus is forming around agri, tech as the hot new investment areas

    BETWEEN 1980 and 2010, the Philippines established its reputation ... Read More