Accounts Receivable/Collections Manager

As an Accounts Receivable/Collections Manager at SOCOTEC, you'll oversee AR operations, monitor aging reports, manage collections targets, resolve disputes related to invoices, and maintain positive relationships with customers. You'll also establish standard operating procedures for consistent collections practices and present performance reports to senior leadership, ensuring that financial goals are met.

To be considered for the Accounts Receivable/Collections Manager position at SOCOTEC, a Bachelor’s degree in Finance, Accounting, or Business Administration is required. Additionally, you'll need at least 5 years of experience in accounts receivable, credit, or collections, ideally within the building or construction industry, along with 2 years in a managerial role.

SOCOTEC is committed to the professional growth of its employees, including those in the Accounts Receivable/Collections Manager role. We offer mentorship programs, training opportunities, and social activities that foster teamwork and enhance skills, ensuring that you can advance your career while contributing to a collaborative, high-performance culture.

In the role of Accounts Receivable/Collections Manager at SOCOTEC, you'll be working with various AR software and ERP systems to optimize processes. Proficiency in these tools is crucial to streamlining workflows and effectively managing collections. You'll also have the opportunity to contribute to integrating new software solutions within our existing systems.

At SOCOTEC, the team environment for an Accounts Receivable/Collections Manager is collaborative and supportive. You'll lead and mentor a team of AR professionals, fostering a culture of results-driven teamwork. We believe that open communication and development opportunities are key to delivering outstanding service and achieving collective goals.

In prioritizing overdue accounts, I assess the age of the receivable, the relationship with the client, and the amount owed. I typically focus first on high-value accounts that are significantly overdue and have a history of on-time payments. This allows me to address pressing issues while maintaining strong client relationships.

My experience with AR software implementation includes collaborating with IT and other departments to analyze current processes, identifying areas for improvement, documenting workflows, and training staff on new systems. I focus on ensuring a smooth transition, minimizing disruption while maximizing efficiency in the accounts receivable process.

To resolve disputes, I use open communication to understand the customer's perspective. I gather all relevant documentation, assess the situation objectively, and work towards a resolution that maintains a positive relationship. I ensure the customer is aware of any policies and procedures that apply to their case.

I typically track key metrics such as Days Sales Outstanding (DSO), aging reports, collection effectiveness, dispute resolution times, and customer payment patterns. These metrics help me monitor performance, identify trends, and adjust strategies to improve cash flow management.

When addressing underperformance, I start with individual meetings to understand their challenges and provide constructive feedback. I set clear expectations, offer support and training, and, if necessary, develop a performance improvement plan while fostering an environment of open communication.

To ensure compliance, I establish and communicate standard operating procedures that everyone must follow. Regular training sessions and updates keep the team informed of any changes in policies. Conducting regular audits also ensures that processes are being adhered to and allows us to correct any deviations.

In a previous role, I noticed delays in our invoice processing. I implemented an automated invoicing system, which reduced the time from invoice creation to delivery. As a result, we increased our collections by 20% in the following quarter while improving the overall customer experience.

I prefer a multi-channel approach when communicating with customers. Starting with polite reminders via email, I follow up with phone calls if necessary. Maintaining a professional and respectful tone is crucial as it helps preserve the relationship while effectively addressing the outstanding balance.

For onboarding new team members in accounts receivable, I create a structured training program that includes an overview of our processes, systems, and company culture. Pairing them with seasoned team members helps to ensure smooth integration and allows them to learn through observation and hands-on practice.

Technology plays a pivotal role in my accounts receivable management strategy. I leverage AR software for tracking payments, automating invoicing, and generating reports. Integrating technology not only enhances efficiency but also allows for better analysis of data, leading to informed decision-making in collections.