Collections Specialist

The Collections Specialist is responsible for managing overdue accounts, ensuring timely payments from customers, and supporting accurate cash application activities. They contact clients to follow up on outstanding invoices, negotiate payment plans, resolve billing issues, and assist with allocating customer payments against open invoices. They also maintain accurate records of collection efforts, collaborate with internal teams to address disputes, and ensure compliance with company policies and regulations. Their goal is to minimize bad debt and improve cash flow for the organization.

 

Responsibilities:

• Monitor accounts receivable aging and proactively follow up on overdue invoices.
• Execute collection activities including reminder emails, phone calls, and escalation in line with collection strategy.
• Resolve payment issues such as invoice disputes, short payments, unapplied cash, and cash application queries in coordination with relevant teams.
• Support cash application activities, including matching and applying customer receipts to invoices, investigating unidentified payments, and clearing unapplied or misapplied cash items on a timely basis.
• Negotiate payment plans and settlement terms within approved authority limits.
• Prepare regular collection status