OUR SERVICES: COLLECTIONS

Collections Analyst

What does a Collections Analyst do?

A Collections Analyst manages accounts receivable and maximizes cash flow by ensuring timely payment from customers. Their duties include contacting customers with overdue accounts, negotiating payment arrangements, and resolving billing disputes. Collections Analysts analyze customer payment trends, evaluate credit risk, and recommend credit limits and terms. They maintain accurate records of collection activities, reconcile accounts, and escalate unresolved issues to management. Additionally, Collections Analysts may assist in developing and implementing collection strategies, optimizing collection processes, and providing insights to improve cash flow and reduce bad debt.

    Tier 1

    .

    		 1 to 2
    years of
    experience

    Tier 2

    .

    		 3 to 5
    years of
    experience

    Tier 3

    .

    		 > 5
    years of
    experience

    ABOUT THE ROLE

    Roles and Responsibilities

    • Managing accounts receivable by contacting customers with overdue payments.
    • Negotiating payment arrangements and resolving billing disputes.
    • Analyzing customer payment trends and evaluating credit risk.
    • Recommending credit limits and terms.
    • Maintaining accurate records of collections activities and reconciling accounts.
    • Assisting in developing and implementing collection strategies, optimizing processes, and providing insights to improve cash flow and reduce bad debt.

    Day-to-Day Duties

    • Contacting customers with overdue payments.
    • Negotiating payment arrangements.
    • Resolving billing disputes.
    • Analyzing payment trends.
    • Maintaining accurate collections records.

    SKILLS AND TOOLS

    Soft Skills

    • Communication skills
    • Negotiation abilities
    • Empathy
    • Persistence
    • Problem-solving skills
    • Time management
    • Resilience
    • Diplomacy

    Hard Skills

    • Accounts receivable management
    • Financial analysis
    • Negotiation techniques
    • Knowledge of collection laws and regulations
    • Data analysis
    • Proficiency in collection software

    Tools

    HighRadius, CollectorSolutions, or Experian Collections 70%
    Salesforce, Zoho CRM, or HubSpot CRM 90%
    Experian, Equifax, or TransUnion 80%

    Education

    Common Educational Backgrounds and Careers for this Role:

    • Economics
    • Mathematics
    • Data Analysis
    • Risk Management
    • Credit Management
    • Public Accounting
    • Business administration
    • Forensic Finance
    • Financial Analysis
    • Banking and Finance

    CANDIDATES TESTS

    Tests & Evaluations for Candidates

    QuickBooks

    QuickBooks Online (UK and US version) test to hire

    8/10

    Bookkeepers, accountants, financial clerks, financial managers, business and clerical administrators.

    GAAP

    Use the Financial accounting (US GAAP) test to hire

    8/10

    Bookkeepers, accounts assistants, financial accountants, financial managers, and other roles requiring a good grasp of financial accounting.

    IFRS

    Use the Financial accounting (IFRS) test to hire

    8/10

    Bookkeepers, accounts assistants, financial accountants, financial managers, and other roles requiring a good grasp of financial accounting.