Collection Executive

A collections process is a systematic strategy for recovering overdue payments, involving steps like invoicing, tracking, sending reminders, negotiating payment plans, handling disputes, escalating follow-ups (calls, letters, emails), potentially adjusting credit, and finally referring to agencies or legal action if needed, all while aiming to maintain customer relations and improve cash flow. 

Key Stages in a Typical Collections Process

1. Invoice Generation & Sending: Accurate, timely invoices with clear terms are sent.

2. Payment Tracking: Monitoring paid, due, and overdue invoices.

3. Reminders & Dunning: Automated or manual notices (email, mail, text) sent before and after the due date.

4. Customer Contact: Calling customers to discuss overdue amounts.

5. Negotiation & Arrangements: Settling payment plans or installment agreements.

6. Dispute Resolution: Addressing any customer disagreements about the invoice.

7. Escalation: Increasing intensity of follow-ups for persistent non-payers.

8. Credit Adjustment: Modifying credit limits based on payment behavior.

9. Referral: Sending accounts to third-party collection agencies or legal action if internal efforts fail. 

Goals of the Process

• Revenue Recovery: Convert delinquent accounts into cash.

• Cash Flow: Ensure steady influx of owed money.

• Customer Retention: Balance debt recovery with maintaining relationships. 

Legal Aspects (US Context)

• Regulated by laws like the Fair Debt Collection Practices Act (FDCPA) to prevent harassment, abuse, or misleading tactics.

• It is a Full Time Customer Support / TeleCaller job for candidates with 6 months - 2 years of experience.

More about this Collection Executive job

1. What is the eligibility criteria to apply for this Collection Executive job?
   Ans: The candidate should be Graduate and above and above with 6 months - 2 years of experience of experience
2. How much salary can I expect for this job role?
   Ans: You can expect a salary of ₹17000 - ₹20000 per month that depends on your interview. It's a Full Time job in Bangalore.
3. How many working days are there for this Collection Executive job?
   Ans: This Collection Executive job will have 6 working days.
4. Are there any charges applicable while applying or joining this Collection Executive job?
   Ans: No, there is no fee applicable for applying this Collection Executive job and during the employment with the company, i.e., Fisklap Services (opc) Private Limited.
5. Is it a work from home job?
   Ans: No, it’s not a work from home job and can't be done online.
6. How many openings are there for this Collection Executive role?
   Ans: There is an immediate opening of 90 Collection Executive at Fisklap Services (opc) Private Limited
7. Who can apply for this job?
   Ans: Both Male and Female candidates can apply for this Customer Support / TeleCaller job.
8. What are the timings of this Collection Executive job?
   Ans: This Collection Executive job has Day Shift.