TRAINING MODULE:           The Uphill Struggle of Asking for Payment.

OVERALL OBJECTIVE:          To Be Able to Master the Odds & Overcome Hassles

Background: Credit is inevitable and customers prefer to trade with those businesses that can allow them pay at a later date. However, this unavoidable business culture is a prime cause of default; literarily rendering company credit policies ineffective and in most cases difficult to apply with majority of customers postponing payment further.

Frustrating collection scenarios that may lead to delayed payment.

A collectors’ key performance indicator is measured by his or her ability to collect monies unpaid hence any inability to manage collection pressure and other negative responses retards collector’s performance. Below are common occurrences why expected revenue is not realized;

1. When clients break their promises and don’t fulfill commitments to pay.
2. When customers ignore collection calls or even don’t call back.
3. When clients postpone appointments with others dodging to meet a collector.
4. When customers push expected payments to the next or following month.
5. When the boss pressure is high hence stressful.

Real Case Scenario.

• Have you ever felt like not following up on some debtors because of the negative or disappointing responses you got from the last discussion?
• Ever had an experience where the debtor talks so nicely and keeps promising to pay every time you call?
• What about those clients you call …the phone rings…they don’t pick nor return your missed calls … & others send you…” will call you back shortly…or am in a meeting… leaving you with no response…
• Do you recall times when you want to avoid your boss or supervisor who keeps reminding you of how low your collections are…YET money is needed to pay rent, taxes, clear goods, salaries as pressing obligations?
• Ever felt like including a few lies in your collection report as a way of managing the pressure and avoid explanations of “why…so and so hasn’t paid”

The Situation Room: Asking for payment can mean to be very stressful especially when customers do not fulfill their promises to pay rendering such as broken commitments. Majority of customers will have excuses, ignore your phone calls, refuse to honor appointments and even spend or divert the money they owe you on something else. Usually the Collector’s first reaction is anger, frustration, disappointment and the collector end up displaying that reaction by default. That’s exactly what is not expected of you when asking for payment given that the situation is already tense.

The Solution:  Businesses need to allocate more resources towards refresher training courses as a priority for the collection team that bring in the revenue just like is done for the sales/marketing; given that the dynamics within the industry keep changing and customers too are unpredictable.

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