SURVIVE AND THRIVE
A special 4-day program on Credit and Collections
October 16 – 19, 2018
It looks attractive on the surface.
Every individual or company is perfect when they complete a credit application. But what you don’t see may strangle your profits or shorten the lifespan of your company.
West Africa is no different:
The basic concepts of finance and communications are the same in Ghana as they are in Canada, The Maldives, Nepal, or China.
West Africa IS different:
Yet…while the ‘concept’ may be the same, an adjusted approach to both credit and the collection process is required to be successful, collecting more, faster, with no (unexpected) losses and keeping (most of) your customers.
THE WORLD IS AWASH IN BAD DEBT THAT IS PUTTING ITS BANKS AND ECONOMY AT RISK
According to the International Monetary Fund’s latest Global Financial Stability Report, write-downs of bad financial assets could reach 4 trillion USD worldwide. In difficult times, accounts are perishable and bad debt and working capital generate serious concerns that could lead to failure and bankruptcy of otherwise successful companies.
Businesses across all sectors are missing out on billions of dollars of revenues due to INEFFECTIVE and UNIMAGINATIVE strategies in credit collections.
It has never been more crucial for businesses to implement a series of collection techniques and processes in a responsible and ethical manner to ensure their business operations sustainability. By employing effective persuasion and negotiating techniques, businesses could improve their bottom line and cash flow, while maximising recovery on past-due accounts receivables and most importantly preserving relationships with customers.
Improve the discipline, knowledge, confidence and most importantly, the performance of your team.
- Reduce bad debts and DST through tested and proven strategies
- Handle each and every excuse/reason for delay or non-payment persuasively, quickly and effectively
- Appreciate customer psychology and interest-based negotiation strategies in managing debt recovery process
- Successfully Implement proactive and practical persuasive and negotiation techniques in credit management and debt recovery strategies
- Understand Better the effective methods of debt collection (including negotiation)
- Deal successfully with stressful “immediate decision” credit situations and effectively handle upset and irate customers
- Increase your organisation’s Return on Investment and make effective decisions in credit collection
- Apply specific negotiation and persuasion techniques to different situations, designed specifically for your customers
- Implement innovative collection techniques and customer contact points for creating a holistic customer experience
- Protect your business against problems such as default, enforcement, negligence, capacity and insolvency
- Improve your persuasion and negotiation skills in your credit collection and debt recovery management
- Understand the mindset of customers and how best to collect overdue debts
- Identify a practical approach for balancing credit risk and customer relationships
Your program has deepened my knowledge and understanding of consumer financial collections and the importance of ensuring that we collect the money and keep the customer.
Our performance in the month of August (one month after graduation) is proof of the newly acquired skills and knowledge we have gained from the professionals in the industry.
Thank you to the entire ICPC team, thank you for the good work.
Ama Osae-Addae, CFCP
The SIMBA Collection Program contains all key elements of the education and training delivered internationally along with tailored content and presentation to business in West Africa.
Your Seasoned and Experienced Facilitators
In addition to having worked as a collector in both the consumer and commercial fields, Tim has been a credit fraud investigator, collection manager, credit manager and a management consultant.
He is the author of:
- ‘Paid in Full’
- ‘Tipping the Scales
- ‘Sex, Lies & Negotiation Techniques’
- ‘Excuses – Excuses, nothing but Excuses’
- ‘The Reluctant Collector’ (for Sales Representatives)
- ‘How Would Confucius Collect a Past-Due Invoice, How Would Donald Trump?’
The Founder and Managing Director of The International Centre for Professional Collections (ICPC), Tim has consulted and trained across Canada and the United States as well as 26 other countries including: Bahamas, Brunei, China, Egypt, Ghana, India, Indonesia, Ireland, Jamaica, Kuwait, Lebanon, Malaysia, Mexico, Oman, Pakistan, The Philippines, Singapore, Turkey, South Africa and Thailand.
Mr. Paulsen is the creator of two exceptional tools to improve collection productivity:
- ‘SAGE – The Excuse Terminator’
- ‘The CollectABILITY Index®.’
Mr. Asantey has over 15 years of Risk Management experience in the Financial/ Banking Services Sector. He previously worked with Amalgamated Bank Ghana Limited (now Bank of Africa Ghana Limited) and Standard Chartered Bank Ghana Limited.
He holds a MSc in Economics and an EMBA in Banking and Finance. He is a Chartered Economic Policy Analyst (CEPA), a Chartered Financial Economist (CFE), a Certified Risk Analyst (CRA), a Certified Operational Risk Manager (CORM), Fellow of the Global Academy of Finance and Management (FGAFM), and also a Fellow of the Association of Certified Chartered Economists (FCCE).
Register and pay before October 2nd for a 10% discount
Telephone: +233 203625515
How the workshop will be conducted:
Our workshops are highly participative and designed to stimulate your thinking, inspire your creativity and enhance your productivity. Minimum but meaningful concept inputs will be shared, followed by discussions, case studies and role play on how you can practice these techniques in your Credit Collection strategies. Group exercises and presentations are an integral part of the program. A pre-course questionnaire will be sent to each registered participant to help us further tailor the workshop specifically to your needs and ensure a very productive and profitable outcome.
This essential workshop is designed to be:
Based on researched content and real life experience of the speakers, the course material and concepts can be implemented as soon as you return to work.
This workshop is designed to be participative and interactive.
The consultative session provides a unique forum to address concerns pertaining to negotiation and persuasion techniques in your credit collection initiatives.
The Airportview Hotel, Accra
Airport Junction, Liberation Road
(233) 302 769 594
Investment is only $699 per person
Reduced from the regular pricing of $799 (All prices in USD). A further savings of 10% if registered before October 1st.
Save more for third and more from your firm.
How to register:
Call or email to reserve your space. (Seating is limited, we suggest an early reservation.)
No payment yet, we will invoice you.
Telephone: +233 203625515
I have operated in this field for more than 12 years thru many accreditation courses, workshops and sessions…I found it rare to see someone within your calibre in terms of professionalism and dedication.Jean Chidiac
Who should attend this program?
This program is designed for the professional who has responsibility for accounts receivable in their organization. Many who attend may handle collections themselves, others, specifically senior management direct others who have the responsibility.
Improve the discipline, knowledge, confidence and most importantly,
the performance of your credit and receivables team.
West Africa Representative and Credit/Collection Specialist
Obed Awinzo, CFCP
An associate of The International Centre for Professional Collections since 2016, Obed Awinzo provides a steady hand as administrator for Western Africa and helps shape the content of the programs.
An experienced and seasoned Credit Executive who has a track record of managing credit and collections portfolios efficiently and effectively over 11 years. He started his professional career with Silver Star Auto Ltd as a senior credit control officer and having worked for 4years moved to Tata Africa Holdings (Ghana) Ltd as head of the Credit Department for 5years.
Obed Awinzo currently heads the Credit Control Department of Nyaho Medical Centre, a position he held for the last 2 and half years.
He is available and would be please to answer any of your questions in addition to taking your registration.
Telephone: +233 20365515
An important note about the program modules:
This is a dynamic program and the module content may change based on world and West Africa events in addition to the needs and desires of the individuals who attend.
- EFFECTIVE CREDIT APPRAISALS
How to obtain and make use of the best appraisals for Ghana and the banking industry
- DETECT EARLY WARNING SIGNALS
It isn’t that the warnings were not there – we just didn’t listen, see or interpret
- POLITICAL PARTIES/AFFILIATIONS
Recognize the risks as well as the opportunities of granting credit (or saying no) to ‘special’ clients
- CREDIT INSURANCE
Grant more credit ‘without’ taking on additional risk
- STANDARDS OF PROFESSIONAL COLLECTION
For many, particularly in the commercial side of the business, a collector’s hat is one they only wear occasionally. But whether occasional, part or full time – the collection business is a profession and must be approached as such, in order to achieve success.
- HOW TO EFFECTIVELY RATE YOURSELF AS A NEGOTIATOR
A check list of potential strength and weakness is reviewed with every participant.
- HOW TO WRITE POWERFUL COLLECTION LETTERS AND E-MAILS
Whether via e-mail or letter, words still command and convince our customers to provide information as well as payment.
- MASTERING THE THREE PHASES OF A COLLECTION – WHETHER ITS A CALL OR A PERSONAL VISIT
Whether you make the call or manage those who do, the three phases of Statement, Response and Rebuttal need to be understood and mastered.
- EXCUSE HANDLING – SIMPLY AND QUICKLY, HANDLE EXCUSES YOU HAVE HEARD OR WILL EVER HEAR AGAIN!
NEVER BE THROWN BY AN EXCUSE AGAIN – YOU WILL ALWAYS BE READY
Our role-play exercises and our materials will have every participant ready to hit the ground running to handle all the excuses they will ever hear from their clients. Please don’t misunderstand our promise. There will be accounts that may not be collected – but after our program, each person responsible for collections will know exactly what they should do – every time.
- DEAL WITH DIFFICULT CUSTOMERS, INCLUDING IRATE AND WORSE
It is the nature of our business to deal with customers who are not at their best. Some of them may be under the influence of drugs, alcohol, stress financial & emotional stress, just to name a few. Anyone can handle a customer who is pleasant and willing to cooperate. A professional will look forward to the challenge of turning a fire-breathing irate customer into one who will speak well of them and their firm…and pays on time in the future!
- DEVELOP A SPECIAL COLLECTION VOICE, EASIER TO UNDERSTAND AND MORE COMPELLING
It is a very important tool in the business of collections. Yet, to say many people haven’t given it a second thought is misleading. They haven’t given it a first thought either.
- TAILOR APPROACH TO TYPES OF CUSTOMERS
The needs of an accounts payable clerk are not the same as the a/p manager, the C.E.O., or the owner of a small or medium sized business. An effective approach must take an approach based on what is important to them.
- CRITICAL DIFFERENCE BETWEEN INTERESTS VS. POSITIONS
You can’t successfully argue against the position anyone will take. However, when you can determine your opponent’s interest – your odds of success increase dramatically.
- FOUR BY FOUR LAW FOR INTERESTS AND SOLUTIONS
We believe it is critical to determine ‘the four interests and solutions’ to each important negotiation.
- WHY EFFECTIVE NEGOTIATIONS ARE NOT ALWAYS WIN/WIN
It is impossible to have an agreement if there isn’t a win for each side. It is the degree of the win/loss and the delivery of the terms that will provide an agreement that will stick.
- HOW TO CLIMB THE LADDER OF KNOWLEDGE FOR INFORMATION, SKILLS AND JUDGEMENT
Our most important step is to recognise what we know and what we don’t know about negotiations. Most of our participants are surprised very early in the program by how quickly they can begin to make immediate inroads to more successful negotiations.
- CREATE AND CLAIM MAXIMUM VALUE
When there is an opportunity to be creative, then one is not limited to the ‘perceived’ prize, that is the only one seen by less experienced and savvy negotiators.
- EIGHT ESSENTIAL DIFFERENCES BETWEEN EFFECTIVE AND AVERAGE NEGOTIATORS
We will cover the major differences in eight areas that separate an average negotiator from one who will often prove to be more effective for their organisation and for themselves.
- HOW TO BECOME A STRATEGIC NEGOTIATOR
With a little bit of effort, almost anyone can make some improvements in their one-on-one negotiations. Our focus is on a long range strategy that will be effective not only today but also in the future.
- MANAGE THE DIFFICULT BALANCING ACT OF ASSERTIVE VS. AGGRESSIVE
Of course many of us need to be more assertive in collecting past-due accounts. But that does not need to mean crossing the line into illegality, bad publicity or even poor taste.
- KNOW THE FIVE APPROACHES TO NEGOTIATING
One can be a fair negotiator by mastering one or two approaches to negotiations. Masters will know and effectively be able to use all five approaches.
- DEALING WITH A CUSTOMER WHO TAKES AN UNREASONABLE POSITION
You will come across people who have absolutely no intention of giving up anything, saving you face, having a win/win situation etc. You can walk away, run away…or be ready for them with our UP Techniques.
- UNDERSTANDING NEGOTIATION STYLE
The more one knows about themselves and their opponents – the stronger they will be.
- SAVING FACE – YOURS AND YOUR OPPONENTS
What you walk away with, from the table is not always as important as, what you leave on the table.
- THREE POWERFUL QUESTIONS ABOUT YOUR NEGOTIATING STYLE
A master negotiator is more in control of communications because he or she has taken the time and effort to “know thyself” through the asking and answering of three powerful questions.
- HOW TO OBTAIN SALIENT AND POWERFUL FEEDBACK
Many of us say that we don’t mind constructive criticism. The best negotiators have found that the best criticism they receive and learn from is far from being constructive.
- HOW TO RECOGNISE AND TAKE ADVANTAGE OF CHOICE POINTS IN YOUR COLLECTION NEGOTIATION
When one is aware of what a choice point is and how it can dramatically lead to the success or failure of a negotiation or a collection, then we can focus and use them to our benefit.
- SEVEN ELEMENTS TO BUILDING CONSENSUS
There are seven crucial steps involved in making agreements and concessions.
- NEGOTIATION STYLES WHEN FACE-TO-FACE AND SIDE-BY-SIDE
We can call the other person an opponent, other side or even partner – but there will be differences.
- THE MOST EFFECTIVE METHOD TO PRESENT A PERSUASIVE ARGUMENT – VERBAL OR WRITTEN
If persuasion is an option, we will demonstrate the most effective means we know to present your argument.
- NEGOTIATION JUJITSU – HOW TO DISARM YOUR OPPONENT
Why use all of your strength for an argument or to present a situation when your ‘opponent’ can actually do it for you?
- APPLICATIONS OF THE GOLDEN AND THE PLATINUM RULES
The Golden Rule has been taught in some fashion or another in most major religions. “Do unto others as you would have them do unto you.” A good rule – most of the time. However, the Platinum Rule upon which Platinum Negotiations™ is based says, “Do unto others as they would prefer to have done unto them.”
- FIFTEEN KEY ELEMENTS OF PLATINUM NEGOTIATIONS
These key elements range from whether you should go first in a negotiation to the advantages and disadvantages of negotiating at home or away.