2. PRESENTATION
OBJECTIVES
To explore Debtor Management
To understand our own practices
To ask ourselves if we can make them better
3. Avoiding Bad Debts
• Knowledge of your client/customer
• Risk Assessment
• Credit Checks
• Deposits/Money on account
• Terms of business
• Effective credit control
• Ongoing monitoring
4. Techniques for getting
money by phone calls (1)
• Be clear on your terms of business before making the call
• Have name of the right person you need to talk to
• i.e. business or individual
• Is the number you are using a home, office or mobile?
• When is going to be the best time to call?
• What questions am I going to ask?
5. Techniques for getting
money by phone calls (2)
• What information do I have on the file/client record?
• How have they paid in the past?
• Do I need to speak with a colleague before making the call?
• What is the fall back position?
• What sanctions are available to me on making this call?
6. Techniques for getting
money by phone calls (3)
“The Call”
5 Key elements:
• Your name
• Your firm/company name
• The purpose/reason for call
• Confirm amount outstanding
• The request for payment
Escalate to a Senior, who is more likely to be aware of the implications of non-payment
in terms of the Insolvency , Companies Act and Court proceedings.
DON’T BE AFRAID TO THREATEN RECOVERY ACTION IF THE SOFT APPROACH
FALLS ON DEAF EARS.
7. Techniques for getting
money by phone calls (4)
“Follow-Up”
• If agreed something make sure it is done
i.e. credit note
• Make sure you diarise promises
• Persistent follow up makes you easier to
pay than not
• If they don’t pay as promised take it a
stage further as soon as promise has
expired
