Collection Executive / Officer

Job Description: Payment Recovery Executive

Company: Trust Grow Fertilisers India Pvt Ltd

Location: Karnataka

Position Type: Full-Time

We are seeking a highly motivated Payment Recovery Executive to join our team at Trust Grow Fertilisers India Pvt Ltd. The Payment Recovery Executive will play a crucial role in ensuring timely payment collection and maintaining strong relationships with clients. This role requires exceptional communication, negotiation, and problem-solving skills, along with a deep understanding of financial processes within the fertilizer industry.

**Key Responsibilities: **

1. Contact clients for overdue payments, negotiate repayment terms, and follow up on payment commitments.

2. Monitor and track accounts to identify and address potential payment issues in a timely manner.

3. Collaborate with sales and customer service teams to resolve payment discrepancies and disputes.

4. Maintain accurate and up-to-date records of payment interactions and agreements.

5. Prepare and send regular payment reminders to clients via phone, email, or other communication channels.

6. Handle inquiries from clients regarding outstanding balances, invoices, and payment options.

7. Implement strategies to minimize late payments and reduce accounts receivable aging.

8. Analyze customer payment patterns and behaviors to anticipate potential issues.

9. Escalate complex cases or issues to higher management for resolution.

10. Collaborate with legal and finance teams to initiate collection actions when necessary.

11. Prepare reports and presentations on payment recovery activities and progress.

12. Maintain a professional and empathetic approach while interacting with clients.

13. Stay updated on industry trends and regulations related to payment collections.

14. Identify opportunities to streamline payment processes and improve efficiency.

15. Provide regular feedback to management regarding the effectiveness of payment recovery strategies.

Attitudes, Skills, Knowledge:

1. Strong communication and negotiation skills, both written and verbal.

2. Ability to build and maintain positive relationships with clients and internal teams.

3. Excellent problem-solving and analytical abilities to identify payment trends and patterns.

4. Knowledge of financial principles and accounting practices, especially related to accounts receivable.

5. Proficiency in using CRM software and Microsoft Office Suite (Word, Excel, Outlook).

6. Patience, persistence, and resilience in dealing with challenging payment situations.

7. Attention to detail to ensure accurate record-keeping and follow-up.

8. Time management skills to prioritize and handle multiple accounts simultaneously.

9. Understanding of the fertilizer industry, payment cycles, and market dynamics.

10. Familiarity with relevant legal and regulatory aspects of payment collections.

11. Empathy and customer-centric approach to handling client interactions.

12. Team player with the ability to collaborate effectively with cross-functional teams.

13. Results-oriented mindset with a focus on meeting collection targets.

14. Adaptability to evolving company processes and industry changes.

15. Bachelor's degree in finance, accounting, business administration, or related field preferred.

1. Customer Communication:

Rating

Review

  - KPI 1: Number of customer interactions per week

  - KPI 2: Average response time to customer queries

  - KPI 3: Percentage of customer issues resolved within

SLA

2.

Payment Follow-up:

- KPI 1:

Number of payment reminders sent per day

 - KPI 2: Percentage increase in on-time payments

 - KPI 3: Average time taken to recover overdue payments

3. Payment Reconciliation:

- KPI 1: Accuracy rate of payment reconciliations

  - KPI 2: Number of discrepancies resolved within a month

  - KPI 3: Percentage reduction in unresolved payment

discrepancies

4. Debt

Recovery Strategy:

- KPI 1:

Number of successful negotiated settlements

 - KPI 2: Percentage increase in debt recovery rate

 - KPI 3: Average time taken to recover outstanding debts

5.

Collection Process Improvement:

- KPI 1:

Number of process enhancements implemented

 - KPI 2: Percentage reduction in collection process inefficiencies

 - KPI 3: Feedback from internal stakeholders on process improvements

6. Compliance and Documentation:

  - KPI 1: Percentage compliance with legal and regulatory

requirements

  - KPI 2: Accuracy rate of payment records and

documentation

  - KPI 3: Number of legal actions avoided through proper

documentation

7. Customer Relationship Management:

  - KPI 1: Net Promoter Score (NPS) of recovered customers

  - KPI 2: Percentage increase in repeat business from

recovered customers

  - KPI 3: Average time taken to rebuild positive customer

relationships after recovery

8.

Reporting and Analytics: 

- KPI 1:

Timeliness and accuracy of weekly/monthly recovery reports

 - KPI 2: Number of insights derived from payment data analysis

 - KPI 3: Improvement in recovery strategies based on data-driven

insights

9. Team

Collaboration:

- KPI 1:

Participation in cross-functional teams for process improvement

 - KPI 2: Feedback from peers and team members on collaboration

effectiveness

 - KPI 3: Number of knowledges sharing sessions conducted within the

team

10.

Negotiation Skills:

- KPI 1:

Success rate of negotiated payment terms

 - KPI 2: Feedback from customers on negotiation experience

 - KPI 3: Improvement in negotiated payment amounts over time