Accounts Receivable Manager

About company-

Mitsu Chem, a leading manufacturer of world-class plastic blow Molded and injection Molded plastic products. Our head office is in Mulund ( Mumbai, Maharashtra ) and three manufacturing units are located at Tarapur (2) and Khalapur (1). We are a BSE listed company having 300+ crore turnover.

Website

Linkedin page-  

Address –

329, Gala Complex, Din Dayal Upadhyay Road

Mulund (W), Mumbai

Landmark – Near Medstar multispeciality hospital

Job Description: Accounts Receivable Manager

Location: Mumbai India

Reports To: Board of Directors & GM-Sales & Marketing

Key Responsibilities:

• Collection Management:

• Oversee the collection of due and overdue payments by contacting each customer through emails, calls, and visits, as per the ageing report and outstanding statements.

• Update customer remarks in the collection tracker for ongoing follow-ups and ensure accuracy of payment status.

• Weekly Aging Preparation:

• Prepare and review weekly ageing reports to ensure all outstanding balances sent to customers are accurate and up-to-date.

• Monitor and ensure prompt collection of debtor accounts, minimizing bad debts and maintaining healthy cash flow.

• Debt Collection Strategy:

• Drive efforts to maintain optimal Days Sales Outstanding (DSO) and reduce overdue customers, overdue days, and overdue amounts.

• Develop strategies to escalate overdue collections to sales, marketing teams, and management for faster resolution.

• Team Management & Leadership:

• Lead, manage, and supervise a team of Credit Controllers, ensuring the team is performing effectively in meeting collection targets.

• Motivate and coach team members to improve performance, ensuring consistency in their approach to collections.

• Customer Communication & Support:

• Ensure customers receive their invoices on time via courier or along with materials for timely receipt of payments.

• Address any customer queries related to invoices and work towards quick resolution to avoid delays in payments.

• Reconciliation & Query Resolution:

• Perform periodic reconciliation of debtor accounts, addressing discrepancies and resolving queries regarding receipts of payments.

• Collaborate with the finance team for the processing of debit and credit notes where necessary.

• Insurance & Payment Monitoring:

• Coordinate with insurance companies for customers who fail to make payment within 60 days from the due date.

• Ensure no new invoices are raised for customers with overdue amounts exceeding 60 days.

• Once overdue payments are received, notify the insurance team for reinstatement of business with that customer.

• Legal & Compliance:

• Provide necessary documentation to the legal team when preparing cases for non-payment or outstanding amounts.

• Reporting & Analysis:

• Set and track monthly collection targets, reporting the performance against these targets to management.

• Submit timely ageing and sales reports to insurance companies for analysis and decision-making.

• Process Improvement:

• Continuously evaluate and enhance collection processes to optimize efficiency, reduce overdue amounts, and improve team performance.

Skills & Qualifications:

• Strong experience in accounts receivable, credit control, and debt collection management.
• Proven leadership skills with experience managing and motivating teams.
• Excellent communication skills for effective interaction with customers, insurance companies, and internal teams.
• Strong analytical skills for preparing reports, managing ageing reports, and tracking overdue accounts.
• Ability to handle complex situations, resolve payment disputes, and maintain excellent customer relationships.
• Familiarity with legal procedures related to debt recovery.