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Introduction Points to Remember

Introduction Points to Remember. Plan your call ( Review Notes, Account & have a look at Outstanding Invoicing ) Keep control of the call ( Trading Terms ) Do not expect to collect every outstanding account Remember that the Customer owes you money. Planning Your Call. Review any history

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Introduction Points to Remember

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  1. IntroductionPoints to Remember • Plan your call ( Review Notes, Account & have a look at Outstanding Invoicing ) • Keep control of the call ( Trading Terms ) • Do not expect to collect every outstanding account • Remember that the Customer owes you money

  2. Planning Your Call • Review any history • Who is the BEST person to talk to? • What steps have already been taken to recover this account? • What is the desired outcome?

  3. Making the Call • Identify yourself and the purpose of the call • Ensure that you are speaking to the right person • ALWAYS ask for full payment

  4. Opening Statements • Let the customer know that you expect them to pay • Tell the customer that you are calling to arrange payment of the full amount • Speak with authority • Act assertively and not aggressively

  5. Overcoming Objections • Listen for objections • Determine is it a relevant objection or mere time wasting • Answer each relevant objection as they are raised • Ignore irrelevancies and steer the conversation to the goals • If you don’t know - put the debtor on hold and ask

  6. Questions • Asking the right question/s that will enable you to gather relevant information • Ask both OPEN and CLOSED questions to get the customer talking • An open question is one which invites an answer other than yes or no • Use a closed question if you simply want a yes or no

  7. Recognising Excuses • Identify when an excuse is being used -e,g cheque is in the mail • Have on hand suggested responses - e.g when was it posted? • If a debtor says he will ring you back - get a commitment

  8. Common excuses 1. There’s no one to sign the cheque • When are Signatories expected back? • Has the cheque been drawn and ready to be signed? ( Top Draw ) 2. I do not have the money to pay • When will funds be available? ( Awaiting their Debtor to pay ) • Can you pay by instalment? ( Not round figure $ amounts ) • Trading while Insolvent ( Pay Accounts as & when fall due ) 3. In liquidation - I am a bankrupt - Death • Ask for proof! • Bankruptcy No or Copy Death Certificate • The name & address of the liquidator/trustee The date that the liquidation/bankruptcy was effective

  9. Other Common Excuses • The account has already been paid When was the cheque sent? ( Confirm Address ) What are the cheque details? ( Bank / Branch / Chq No ) How much was the cheque for? ( Confirm Amount & Invoice ) Has the cheque cleared? ( On Bank Statement ) • Always ask - How soon can I expect payment? ( Day or Date ) 6. Get a commitment!!!!!

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