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:
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Identification
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Statement
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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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