Monitoring Credit sales / Receivables on daily basis and report non-compliance in receivables.
Primary Responsibilities-
Strategic and planning-
- Secure receivables with firm commitments, with BG / LC & post-dated cheques & ensure its sustainability by avoiding overdue & bad debt.
- Ensure Standard Payment terms & conditions of credit sales based on credit analysis.
Core Functional
- Follow consistent review mechanism with party holders and customers to ensure targeted collections are received on periodic basis.
- Provide information to facilitate collections are received within agreed credit terms and overall no of days are maintained as per budget for Export / Domestic.
- Provide necessary inputs to sales team for resolving customer payment issues.
- Track & Follow for LC / Receivable Bill Discounting for timely credit of funds.
- Highlight overdue receivables to management for corrective actions and intervention.
- Time bound settlement of on payments / unadjusted credits / discounts / Credit notes etc., to ensure periodic Reconciliation of accounts.
- Ensure outstandings as per SAP matches with EDPMS report of RBI.
- Ensure customer accounts higine are duly maintained.
- Maintain and provide commission due statements for all agents on quarterly basis to sales and finance.
Internal Process
- Circulate report of collection performance of customer and party holder vs committed target along with reasons for delayed payments on regular basis.
- Provide country wise and customer wise bill wise outstanding to each party holders for follow up of collections.
- Monitoring Collections received in Bank, intimating to all stake holders and follow up with banks for L/C payments.
- Coordinate with party holders / quality department for early closure of material return complaints.
- Work closely with party holders on short payments and circulate status report to Sales HOD & Finance along with action plan.
- Monitor pending d3 cases and share its impact on receivables.
- Timely Balance confirmation with debtors.
- Work closely with sales team for collection of all overdue payments before release of commission payments to agents.