Collections is a key area of any credit granting organization, and it is common for organizations to invest in processes, technology and strategy in an attempt to increase the efficiency and effectiveness of this area. Unfortunately, it is also common for organizations to overlook the most important factor in collections – the collectors who make contact with customers every day.
The first three articles in this series focused on behavior styles and explored the most effective collections style – assertive behavior – and its common characteristics. Article 4 started our discussion on negotiation. That article discussed the first two (of ten) ways of improving a collector’s negotiation techniques. This month’s article explores the next tip in negotiation.
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