Common Scenarios in the Situation Room: No matter how good the Supervisor or Credit Manager may be at collecting, often times the team’s overall performance may be bogged down by the weaknesses of the very few in the team. This imbalance and irregularity greatly impact on the success of collections.
· Have you experienced situations where you as the Credit Supervisor or Collection Manager is branded by your team as complicated or one who is too hard to work with?
· Have you ever asked for feedback from one of your team for collection result and he or she lied just to get away with it?
· What about the difficulty of explaining to your head of department (Finance or Sales) or sometimes Management why you as a team haven’t hit your collection targets?
· What do you do with mounting pressure when end of month is approaching and you as the team leader is trying all it takes to go the extra mile with a team that seem not to feel the pressure?
Problem Statement: The main cause of team challenge is the negative attitude that surrounds the working relationship especially if the team think the Supervisor is being too pushy. Whatever the reason, team weakness can cause irregularity in collections and is worse felt by the Supervisor who is answerable to management hence faced with finding reasons why collection is low.
Justification: There is absolute need to undertake this session where your team’s weaknesses like inability to manage collection pressure including attitude can be tackled from a Professional Third-Party Perspective.
Please contact us for this powerful program that will “ease your burden from panic and pressure when it comes to end of month collection reports where you may be tasked to explain causes of poor performance and still fail”. We shall identify the cause and provide appropriate solutions.
Common Scenarios in the Situation Room: Often times the blame game is at play……
Unlike in the past where getting paid or collecting debt was entirely the functionality of the Sales or Credit or Collection and utmost the Finance Staff, this ideology has since changed due to the dynamics within the industry.
· Are you aware that when there is no money or lack of cash flow it is usually the Finance team or Head of FINANCE to blame?
· Have you ever experienced a scenario where a client calls the Customer Care Department or Receptionist to ask for some information and the employee refers the client to call or contact so and so in Finance or Sales or Technical!!
· Do you recall instances when the staff forgets to pass over the information to the Officer in charge even after promising the customer?
Do you know that every opportunity well utilized in the right manner by any staff can get you paid? So Get Employees involved.
Justification: Cash is the engine and heartbeat of any organization and its therefore, it is only prudent that every employee at their respective levels be trained and involved on how they can individually contribute towards getting the company’s debts paid without damaging clientele relationship.
Do not hesitate to contact us for more discussion “on how best you can orient your team to undertake this beneficial session in order to get everyone involved in the company’s cash flow.” Remember “Cash flow is critical to any business
· Do you know that the one size fits it all collection approach where the skills or techniques to demand for money applied is the same across all board no longer works?
· Are you aware that different sectors face different challenges since they engage in different trades or industries?
· Do you know that businesses in the same sector or industry for instance the Transportation/Logistics, Clearing/Forwarding, Insurance, Media, Motor Vehicle Repairs/Garages etc. share common collection challenges with some varying peculiar cases?
· Have you heard of some customers belonging to the same sector after accumulating arrears with you decide to cross over to another service provider offering the same business like yours (a competitor)?
Common Scenarios in the Situation Room… Suppose your company or organization offers credit to any or some or even all of these different types of sectors from whom you expect to collect from; hence your customers as embedded in your client or debtor portfolio. This also forms your different customer types where your company either offers supplies or services on credit.
· The Manufacturing Sector for Different Goods.
· The Government Ministries, Agencies and Parastatals.
· The Business Community Sector.
· The Insurance Sector.
· The NGO Sector.
· The Educational Sector,
· The Corporate Sector.
· The Transportation and Logistics Sector.
· The Clearing and Forwarding Sector.
· The Print Media Sector (Newspapers Etc.).
· The Visual Media (Radios, Televisions).
· The Motor Vehicle Sales and Repairs (Garages).
· The Funeral Sector.
· The Internet or Data Service Providers.
· The Telecom Sector.
· The Utilities (Water, Electricity etc.).
· The Hotel and Hospitality Sector; just to mention but a few.
The Problem: When the collection team embark on follow ups in a bid to collect, often times they generalize and end up with lots of broken or unfulfilled promises to pay. The latter is a source of inability to meet or exceed collection targets if collectors do not manage the nitty grit ties of accelerating cash flow collections.
The Solution (Adopting the Focused & Targeted Way): We are able to offer you with a better, more focused and targeted session or presentation of 3-4 hours on how to position your collection approach and style so that:
· You are able to understand the different sectors from the Credit and Collection perspective.
· To enable you apply skills relevant to particular sectors and those that cut across.
· Learn how to tailor suitable strategies for the different customer types.
Do not hesitate to contact us
Do not hesitate to contact us