Collections Manager
Position Summary
The Collections Manager is responsible for leading the company's accounts receivable collections function, ensuring timely payment of outstanding invoices while maintaining strong customer relationships. This position develops collection strategies, manages collection activities, analyzes aging trends, reduces delinquency, and partners with Billing, Sales, Operations, and Customer Service to resolve customer account issues. The Collections Manager plays a key role in improving cash flow, minimizing bad debt, and supporting the company's financial objectives.
Essential Duties and Responsibilities
• Manage the daily collection efforts.
• Develop and implement effective collection strategies to improve cash flow and reduce past-due accounts.
• Monitor accounts receivable aging and prioritize collection efforts.
• Contact customers regarding outstanding balances through phone calls, email, and written correspondence.
• Review customer payment history and recommend appropriate credit holds or account actions when necessary.
• Negotiate payment arrangements while maintaining positive customer relationships.
• Investigate and resolve invoice disputes by partnering with Billing, Sales, Operations, and Customer Service.
• Prepare weekly and monthly aging, collections, and cash forecast reports for leadership.
• Monitor key performance indicators (KPIs) including DSO, aging trends, and collection effectiveness.
• Ensure compliance with company policies and applicable state and federal regulations.
• Identify opportunities to improve collections processes through automation, reporting, and workflow enhancements.
• Assist with month-end close activities related to accounts receivable.
• Support external audits by providing requested documentation.
• Perform other duties as assigned.