- Oversee timely collection of outstanding client payments and maintain accurate records.
- Ensure effective and professional communication with clients regarding outstanding balances and payment issues.
- Develop and execute strategies to minimize overdue payments and enhance recovery rates.
- Prepare regular reports on collection performance and provide cash flow projections for senior management.
- Lead and manage the collections team, setting targets and evaluating performance.
- Negotiate payment plans and settlements while maintaining positive client relationships.
- Ensure compliance with company policies, financial regulations, and collection procedures.
- Oversee the escalation process for overdue accounts and resolve client disputes.
- Work with finance, operations, and sales teams to streamline billing, invoicing, and collection processes.
- Identify potential risks related to non-payment and implement measures to mitigate them.
- Collaborate with the finance team to assess client creditworthiness and advise on high-risk accounts.
- Coordinate with the legal team for unresolved or high-risk accounts requiring legal intervention.
- Monitor changes in legislation and industry practices related to debt collection, ensuring the company adjusts its policies and practices accordingly.
- Analyze client payment patterns to predict future collection issues and adjust strategies proactively.
- Design incentive programs to encourage timely payment behavior among clients.
- Manage third-party collection agencies and legal advisors when necessary.
- Evaluate and revise internal collection and credit policies to minimize credit risk.
Bachelor’s degree in accounting or finance.5 years of experience in credit control, collections, or accounts receivable management.Familiarity with the facility management industry or related sectors is highly preferred.Strong understanding of billing processes, contract management, and client relationship management in a service-oriented business.Certified Credit and Collection Manager (CCCM) designation or similar certification is preferred.A Proven track record of reducing delinquencies and improving collection efforts in a previous role.Strong analytical and decision-making skills with a detail-oriented approach.Excellent negotiation skills with the ability to resolve conflicts and complex issues.Advanced skills in Microsoft Excel and any relevant Collections Management Software.