Professional Collection Manager (PCM)

Professional Collection Manager (PCM)

Course Description

Introduction

Welcome to the Professional Collection Manager (PCM) training course developed by Cambridge for Global Training. This course is designed to equip professionals with the essential skills and knowledge required to excel in the field of collection management. Participants will learn the principles, techniques, and best practices for effective debt collection and management. Through this comprehensive training program, attendees will gain the expertise needed to navigate the challenges of debt collection, optimize collection processes, and maximize recovery rates.

Course Objectives

By the end of the course, participants will be able to:

• Master the principles and practices of collection management.
• Implement effective debt collection strategies.
• Optimize collection processes to improve efficiency and effectiveness.
• Enhance communication and negotiation skills for successful debt recovery.
• Utilize technology and tools to streamline collection operations.
• Comply with legal and ethical guidelines in debt collection.
• Maximize recovery rates and minimize losses for the organization.

Who Should Attend

• Professionals working in credit management and debt collection roles.
• Collection officers and managers responsible for recovering outstanding debts.
• Credit controllers and financial professionals involved in managing receivables.
• Debt recovery agents and consultants.
• Small business owners and entrepreneurs looking to improve their debt collection processes.
• Anyone interested in developing expertise in debt collection and credit management.

Course Outline

Unit 1: Introduction to Collection Management

• Overview of collection management principles and practices
• Importance of effective debt collection in financial management
• Role of the collection manager in debt recovery
• Legal and ethical considerations in collection management
• Understanding debtor psychology and behavior

Unit 2: Debt Collection Strategies

• Developing effective debt collection strategies
• Techniques for establishing contact with debtors
• Negotiation skills for resolving disputes and securing payments
• Setting realistic payment plans and deadlines
• Dealing with difficult and non-compliant debtors

Unit 3: Collection Process Optimization

• Assessing and improving collection processes
• Streamlining communication channels with debtors
• Implementing automation and technology in collection operations
• Utilizing data analytics for proactive debt management
• Continual improvement in collection processes

Unit 4: Communication and Negotiation Skills

• Effective communication techniques for debt collection
• Building rapport and trust with debtors
• Handling objections and overcoming resistance
• Negotiation strategies for reaching mutually beneficial agreements
• Assertiveness and professionalism in debt collection interactions

Unit 5: Compliance and Legal Aspects

• Understanding legal frameworks and regulations in debt collection
• Compliance with debt collection laws and regulations
• Handling sensitive information and data protection
• Respecting debtor rights and privacy
• Resolving disputes and avoiding legal pitfalls in debt collection