Accounts Receivable Executive (Cash Application)

About the Role

Inchcape Shipping Services is seeking an Accounts Receivable Executive (Cash Application) for a permanent contract role in Chennai. This position is responsible for managing credit collections for the Global region by handling accounts receivable, collections, and maintaining data. The role also aims to optimize processes and collection operations to reduce costs and effort.

• A/R (Accounts Receivable) Invoice Percentage: Current of at least 99%.
• Monthly Cash Forecast: Meet by 100% or above through up-to-date follow-ups and collections of past dues.

Key Responsibilities

• Collect customer payments in accordance with payment due dates.
• Review and prioritize open accounts for collection efforts.
• Act as a mentor and backup for associates, assisting with their learning curve.
• Solve cash applications and evaluate receipt settlement modes of ordering and payment.
• Make outbound collection calls in a professional manner while maintaining and improving customer relations.
• Initiate contact via phone and/or email with a large portfolio of customer accounts to determine the reason for past due accounts receivable.
• Use critical thinking skills during customer communication to probe reasons for non-payment and ensure proper resolution.
• Recommend and implement action plans for resolving delinquent transactions based on customer responses.
• Engage associates from other departments (e.g., commercials, sales, operations) as needed for action plans.
• Reconcile assigned accounts to ensure payments and credit memos are properly applied.
• Escalate collection problems to Management and/or Sales Team when necessary.
• Approve and authorize release of orders according to credit line and payment history within established guidelines.
• Communicate the status of the assigned portfolio and/or specific accounts to Management and/or Sales Team.
• Work on special projects such as account clean up, as needed.
• Identify issues contributing to account delinquency and discuss them with management.
• Review and monitor assigned accounts and all applicable collection reports.
• Provide timely follow-up on payment arrangements.
• Process Payments & Refunds as applicable.
• Resolve billing and customer credit issues.
• Update account status records and collections effort.
• Report on collection activity and accounts receivable status.
• Mail correspondence to customers to encourage payment of delinquent accounts.

Requirements & Tech Stack

• Microsoft Excel: Proficient.

Qualifications

• Education: Graduates or Postgraduates in the field of Finance or Commerce.
• Skills:
• Articulate with good communication and presentation skills.
• Strong analytical capabilities.
• Good inter-personal skills with a “hands-on” approach.
• Ability to work independently without much supervision.
• Resilient, pragmatic, and hardworking.
• Structured thinker, good on both strategy and detail.
• Ability to be rapidly effective in a matrix structure.
• Demonstrated ability to balance multiple changing priorities in a highly dynamic environment.
• Experience: Experience in Shipping/Logistics would be an added advantage.