Financial Skills: Telephone Collection Techniques

Course Overview

This practical course concentrates on two areas vital to successful cash collection on the telephone: good technique and a confident approach. Using interactive exercises and group discussions, delegates will learn how to organise and carry out calls so that they secure a customer commitment every time.

Audience

New and recently appointed credit controllers,or those who have not received any formal training and any staff who are new to the role of collecting outstanding trade debts on the telephone.

Skills Gained

By the end of this course you will be able to:

• Recognise the importance of your role in the business.
• Use a well organised approach to every stage of a collections call, from initial preparation through to follow-up actions.
• Recognise the importance of good verbal and vocal skills on the telephone and the impact it has on your success.
• Make well-managed collections calls with greater confidence.
• Recognise when customers are seeking to avoid payment.
• Use some basic techniques to overcome excuses.
• Get a payment commitment from every call.

Course Outline

The Role of the Credit Controller

• Why good credit control is important to every business
• Credit policy and how it affects telephone collections
• Skills of the successful collector

The Key Steps to a Successful Call

• Preparation
• Opening and first impressions
• Establishing the facts
• Negotiating
• Securing a payment promise
• Close and follow-up

Communicating on the Telephone

• Communicating and listening skills
• The art of questioning
• Getting your message across

Persuading Customers to Pay

• Building relationships with customers
• Getting to the decision maker
• Negotiating and persuading tactics
• Overcoming fear of asking for payment
• Getting the right balance between rapport and assertiveness

Overcoming Excuses

• Handling queries
• Recognising excuses and delaying tactics
• Providing solutions to non payment
• Taking follow-up action

Financial Skills: Telephone Collection Techniques / TCT1