Accounts Executive - Receivable Al Futtaim Private Company (LLC)

Overview Of The Role

• The Accounts Executive - Receivable is responsible for managing and optimizing the collections process to ensure robust cash flow, minimizing overdue payments and fostering strong customer relationships. Emphasizing efficiency in receivables management, the role plays a pivotal part in achieving financial targets by reducing Days Sales Outstanding (DSO) and resolving disputes promptly. Operating in a dynamic and customer-centric environment, this position demands adept communication, negotiation, and analytical skills to reduce financial risks, enhance cash flow, and support overall business objectives.

What You Will Do:

Collections Management

• Proactively manage the end-to-end collections process, ensuring timely recovery of outstanding payments from customers.

• Monitor accounts receivable ageing and prioritize actions for accounts exceeding 30, 60, and 90+ days overdue.

• Implement structured follow-up processes through calls, emails, and meetings to address overdue accounts.

• Collaborate with the sales and project teams to resolve customer disputes and discrepancies impacting collections.

• Improve cash flow and reduce Days Sales Outstanding (DSO), especially focusing on achieving 90+ days overdue reductions to zero.

Customer Relationship Management

• Build and maintain professional relationships with customers to ensure open communication regarding payment terms and timelines.

• Conduct regular account reviews with customers to address payment delays and negotiate repayment plans when necessary.

• Provide outstanding customer service by promptly addressing and resolving collection-related inquiries.

• Ensure adherence to strategic goals in customer relationship management protocols.

Reporting and Analysis

• Prepare and present detailed collection reports to senior management, including ageing analysis, DSO metrics, and recovery performance.

• Analyze collection trends and provide actionable insights to improve collection efficiency and reduce overdue accounts.

• Maintain accurate records of customer interactions and payment commitments in the company's ERP system.

• Report number of successful tenders and efficiency in cost management.

Policy Compliance and Improvement

• Ensure adherence to credit policies, payment terms, and collection guidelines in all customer dealings.

• Identify gaps in the collection process and recommend enhancements to improve efficiency and compliance.

• Assist in revising credit policies based on business requirements and customer behavior.

• Prepare audit reports and comply with audit standards.

Cash Flow Optimization

• Work closely with the finance team to forecast cash inflows based on expected collections.

• Identify high-risk accounts and escalate unresolved issues to senior management with proposed solutions.

• Support initiatives to streamline the invoicing process and reduce payment delays caused by administrative errors.

• Meet cash flow targets through optimized collection processes.

Audit and Compliance Support

• Provide necessary documentation and reports during internal and external audits related to collections.

• Ensure all collection processes comply with financial audit standards and company policies.

• Implement audit recommendations to enhance collection processes.