About the job
Job Title: Collections Specialist
Experience Required: 3-5 Years
Employment Type: Full-time
Role Summary
As a Collections Specialist at prime-system, you will play a pivotal role in managing overdue accounts and ensuring timely collection of outstanding balances. This position demands exceptional communication, negotiation, analytical, and problem-solving skills. You will be tasked with juggling multiple priorities, collaborating with various teams, and adhering to collection laws and company standards.
Key Responsibilities
- Proactively contact customers with overdue accounts to remind them of outstanding balances and negotiate payment options.
- Resolve payment disputes by coordinating with customers, internal departments, or external parties.
- Develop and implement collection strategies that align with our financial objectives.
- Analyze account data to spot trends and suggest enhancements to collection practices.
- Maintain thorough and accurate records of all customer interactions, including call notes and payment commitments.
- Ensure all processes and changes are documented following formal change management protocols.
- Escalate complex issues to senior team members or relevant departments as needed.
- Keep precise, real-time timesheets.
- Work closely with internal teams to ensure collections processes are integrated with overall business operations.
- Communicate clearly and consistently with both clients and colleagues.
- Respond promptly to client inquiries with guidance and information.
- Actively participate in team meetings, training sessions, and other required engagements.
- Stay well-informed about the company’s products and services.
- Ensure compliance with client standards and service expectations.
- Provide constructive feedback to help improve processes and client satisfaction.
- Support team members and take on additional tasks as assigned.
Performance Metrics
Your performance will be assessed through key performance indicators, including Collection Effectiveness Index (CEI), Days Sales Outstanding (DSO), Collection Rate, Aging of Receivables, and more.
