Module 1 - Rules:
Collecting from businesses is not governed by as many rules as
collecting from consumers. However, there are important
guidelines to know. This module provides a philosophical
foundation for effective collections. It covers ethical and
performance standards that focus on collecting the money as well
as managing the status of the customer; the attitude of the
customer and the reputation of your company after the collection
has been made.
Module 2 - Writing Effective Letters, faxes and e-mail:
Collection letters, faxes and emails are useful tools in
commercial collections. This module provides students with a
rich opportunity to develop their writing skills, increase the
odds that their communications will be read and motivate the
client to respond appropriately.
Module
3 - How to be assertive - without being aggressive:
While it is important to collect the money, it is also important
not to offend the customer. Being too aggressive may produce
results that include unwanted complications. Not being assertive
enough may not produce results at all. This module teaches
students how to be assertive without being aggressive – how to
efficiently collect on accounts with techniques that even work
for the F.O.B. (Friend of the Boss).
Module 4 - The Telephone Collection Call:
Modules 4 and 5 are the heart of the PACE program because most
of our collection efforts take place on the telephone. To be
effective on the phone, the collector needs to master the phases
of:
-
Identification
-
Statement
-
Rebuttal
This section even teaches students the right things to say when
the customer agrees to pay the balance today.
Module 5 – Excuses:
The professional collector will always be ready to effectively
handle any excuse or reason for delayed payment that a customer
may offer. This module teaches students how to quickly and
simply handle both the usual and the unusual excuses provided by
customers.
Module 6 - The Special Collection Voice:
Too often people in the business of collections will speak to a
customer on the telephone using the same voice that they would
use if they were face to face. This can be a mistake. Students
will learn how to develop their ‘special collection voice,’
which is more compelling to the listener and ensures better
understanding.
Module 7 – Tailor Made Collections
Collection techniques should vary depending on whether one is
speaking to a small business owner, accounts payable manager or
accounts payable clerk. In this module, students will learn how
to successfully profile the customers they deal with and select
and use the most appropriate techniques.
Module 8 – Working with the Sales Team
The objective of professional collections is to increase sales –
profitable sales – within the firm. This module teaches students
how to better work with the sales and customer service
departments within their organization – for the benefit of all.
Module 9 - Negotiating Techniques for Collections:
Professional collectors often negotiate the terms of a
collection for their company. Module 10 teaches the basics of
negotiations and specific negotiating strategies for
collections. They will practice and be tested on fifteen
“special” negotiating techniques.
Module 10 – Bankruptcy, legal and end of line
There are certain actions to take when bankruptcy has been filed
or is being threatened. This module expands on Module 10 by
focusing on B.A.T.N.A. (best alternative to a negotiated
agreement) – if you can't collect, what then? This may include
legal action, assignment to third party or other actions.
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