Payment Collection:
- Contact customers to collect outstanding payments within the agreed payment terms.
- Follow up on overdue accounts and negotiate payment arrangements to facilitate timely payment.
- Resolve any disputes or issues related to payments in coordination with the sales and customer service teams.
- Document all collection activities and maintain accurate records of payment status.
Customer Relationship Management:
- Build and maintain strong relationships with customers to facilitate smooth payment processes.
- Address customer inquiries and concerns related to payments promptly and professionally.
- Provide outstanding customer service while ensuring adherence to payment policies and procedures.
Accounts Receivable Management:
- Monitor accounts receivable aging and identify overdue accounts that require immediate attention.
- Analyze customer payment trends and patterns to identify potential risks and take appropriate actions.
- Coordinate with the finance team to reconcile customer accounts and ensure accuracy of billing and payment records.
- Prepare periodic reports on accounts receivable status, including collection performance, aging analysis, and cash flow projections.
Collaboration and Communication:
- Collaborate closely with the sales team to obtain necessary information regarding customer accounts, invoices, and payment terms.
- Liaise with internal stakeholders, such as the finance and customer service teams, to resolve customer payment-related issues effectively.
- Communicate and coordinate with external parties, such as collection agencies or legal advisors, when necessary.
Process Improvement:
- Continuously evaluate and enhance the payment collection process to improve efficiency and reduce outstanding balances.
- Provide recommendations for system enhancements or process changes to streamline collections and improve cash flow.