The Collection Specialist is responsible for managing and resolving outstanding invoices to ensure timely payments. This role is crucial in maintaining the company's cash flow by effectively communicating with clients and implementing collection strategies.
- Contact clients to collect outstanding payments via phone, email, or mail.
- Negotiate payment plans and terms with delinquent accounts.
- Maintain accurate records of all collection activities in the system.
- Collaborate with the accounting team to reconcile accounts receivable ledger.
- Prepare reports on account status and collection efforts for management review.
- Identify issues attributing to account delinquency and discuss them with management.
- Strong communication and negotiation skills.
- Proficient in using accounting software such as QuickBooks or SAP.
- Excellent problem-solving abilities and attention to detail.
- Ability to work independently as well as part of a team.
The Collection Specialist's performance is evaluated based on successful recovery of overdue payments, reduction in days sales outstanding (DSO), improvement in cash flow, and maintenance of positive client relationships through effective communication strategies.
Recovery Rate
Increase percentage of overdue payments collected.
Days Sales Outstanding (DSO)
Reduction in DSO metrics over time.
Client Relations
Maintain positive client interactions while collecting debts.
Reports to
Accounts Receivable Manager
Collaborates with
Accounting Team, Sales Department
Leads
- QuickBooks
- SAP
- Microsoft Excel
Associate's degree in Finance or Accounting preferred; 2-3 years experience in collections or related field.
