Collection Manager

2 weeks ago

Mulund East, Maharashtra, India Mitsu Chem Plast Ltd Full time ₹ 3,00,000 - ₹ 6,00,000 per year

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.

Job Type: Full-time

Pay: ₹25, ₹50,000.00 per month

Benefits:

  • Health insurance

Work Location: In person

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