Collection Secrets Presented by: Nannette Bringard Accountant / Credit Manager Deluca Liquor & Wine Coors of Las Vegas June 6, 2007

Presented by: Nannette Bringard

Accountant / Credit Manager

Deluca Liquor & Wine

Coors of Las Vegas

June 6, 2007

Collection Secrets Who are you selling to? Get to know your customer by doing your homework before the first sale What are you selling? What are your terms of sale?

Who are you selling to?

Get to know your customer by doing your homework before the first sale

What are you selling?

What are your terms of sale?

Collection Secrets Does your customer posses the 6 C’s of Credit? Character Capacity Capital Collateral Conditions Credit Record

Does your customer posses the 6 C’s of Credit?

Character

Capacity

Capital

Collateral

Conditions

Credit Record

Collection Secrets Start with your Credit Application Ask the right questions, and then Verify the information given Verify trade references Verify their payment history Verify bank information Verify corporation with the Secretary of State. (Nevada Secretary of State website is http://sos.state.nv.us

Start with your Credit Application

Ask the right questions, and then

Verify the information given

Verify trade references

Verify their payment history

Verify bank information

Verify corporation with the Secretary of State. (Nevada Secretary of State website is http://sos.state.nv.us

Collection Secrets What are the terms of your sale? Terms and Conditions of Account Personal Guaranty

What are the terms of your sale?

Terms and Conditions of Account

Personal Guaranty

Collection Secrets Motivate and train your customer to pay on time Start with the first order Use follow up calls, reminder of payment terms

Motivate and train your customer to pay on time

Start with the first order

Use follow up calls, reminder of payment terms

Collection Secrets Organize your collection calls Know the balance and the background Prepare a past due log or call sheet Document your conversation

Organize your collection calls

Know the balance and the background

Prepare a past due log or call sheet

Document your conversation

Collection Secrets Have a systematic follow up procedure in place Send out monthly statements Use stickers or hand written notes www.renton.com

Have a systematic follow up procedure in place

Send out monthly statements

Use stickers or hand written notes

www.renton.com

Collection Secrets Make “Feel Good” collection calls Portray a positive customer service attitude Use thank you cards

Make “Feel Good” collection calls

Portray a positive customer service attitude

Use thank you cards

Collection Secrets Watch for warning signs that a company is in trouble Stall tactics Check has been cut but is pending final signature, or no one is here to sign the check Missing an invoice and needs a copy (several times) The check is “in the mail” We just don’t have any money right now NSF checks

Watch for warning signs that a company is in trouble

Stall tactics

Check has been cut but is pending final signature, or no one is here to sign the check

Missing an invoice and needs a copy (several times)

The check is “in the mail”

We just don’t have any money right now

NSF checks

Collection Secrets Be part of the solution Payment plans Know when it is time to turn the account over to collections

Be part of the solution

Payment plans

Know when it is time to turn the account over to collections

Collection Secrets Educate yourself Attend seminars Subscribe to credit and collection magazines

Educate yourself

Attend seminars

Subscribe to credit and collection magazines

Collection Secrets Consider joining CMA and industry credit groups

Consider joining CMA and industry credit groups

Collection Secrets Attached sample forms Credit Application Terms and Conditions/Personal Guaranty Sample letters to customers 10 Tips to Improve Collection Procedure pulled from CMA News website http://www.imakenews.com/anscers/ Effective Communication Tips Guidelines For An Effective Collection Call

Attached sample forms

Credit Application

Terms and Conditions/Personal Guaranty

Sample letters to customers

10 Tips to Improve Collection Procedure pulled from CMA News website http://www.imakenews.com/anscers/

Effective Communication Tips

Guidelines For An Effective Collection Call

Collection Secrets Questions? If you have any questions after you leave, I can be reached by: Email: [email_address] Phone: 734-5228

Questions?

If you have any questions after you leave, I can be reached by:

Email: [email_address]

Phone: 734-5228