Credit Controller
Johnson Controls
Total years of experience :14 years, 4 Months
Daily review of Accounts Receivable aging and prioritize customers’ accounts for optimal results.
Prepare action plan and follow up on collection of dues and over dues from customers on daily basis (Calls, Emails, Visits)
Achieve the monthly cash-collection targets set as per the objectives and targets of the company & reduce DSO
Issue monthly statement of account, Demand Letters, and legal letters.
Follow up on debtors outstanding for aged credit period to ensure timely collections.
Approve credit facilities for new accounts after checking their credibility
Follow systematic credit control procedures and keep track of all related documents for credit facility
Release and reject orders based upon credit status and negotiate with customers to pay the overdue.
Check collections received from customers and ensure 100% reconciliation & allocation.
Follow up on dispute charges and reconcile/ resolve customer queries.
Implement company policy in terms of credit facilities such as credit limit and credit period.
AR - Reconciliations, payment allocations, banking multi-currency (USD, GBP, DKK etc.)
Monitor any unallocated payments from customers and apply the same with future bills.
Ensure that all customer accounts are fully reconciled, and the outstanding items are resolved.
Communicate payment delays to department internally to hold deliveries and services.
Working across department on internal audit investigations that directly impacts credit control.
Review and finalization of the customers for external collection agencies
Negotiate repayment plans and schedule
Monitoring Transactions and Ongoing Due Diligence to ensure KYC Procedures are implemented
Blacklist accounts which are defaulters & initiate further actions towards litigation and external collection.
Regular interaction with External Collection agents to obtain updates on the accounts and reporting to management
Lead the implementation of the credit policy & closed loop collection process within the company.
Identify automation opportunities and lead implementation Education
Take lead in new projects implementations and work with the team to ensure timely completions.
Dealing with Credit Reporting agencies to obtain Credit Reports for new Credit Application.
Regular reporting to management and providing various analysis for better decision making
Conduct Age analysis, ration analysis, Financial Statements analysis, trend analysis as and when needed.
Highlights
Credit Policy Management
DSO Management
Customer Relationship Management - Regular visits & meetings. Dealing with Local & international customers.
Billing Process Management - Dealing with billing department to ensure accuracy of the data.
Coordination with Sales & operation teams regularly.
Account Receivable Management (Material Deliveries, Invoicing, timely submission, acknowledgment of claims by customers)
Revenue recognition management for the contractual works (WIP, Payment Certifications)
Minimizing risk of bad debts by granting credit to good risk assessed customers
Dealing with banks for LCs’ & Guarantees.
Collection process management - Following collection plan ( Emails, phone calls, personal visits)
Further
Establishing and maintaining productive customer relationships to maximize account performance (Key account management).
Intensely involved in business process of the company in order to operate with maximum efficiency.
Dealing with local & international customers (UAE, KSA, Qatar, SriLanka, Kazakhstan, Bahrain)
Contacting and following up with customers by all means of positive & effective communication regarding all unpaid balances
Evaluating new customers for creditworthiness, establishing payment terms (Financial Ratios Analysis to decide credit scoring of the customers)
Completing Credit Profiles of the Customers in line with the Credit Policy of the Company.
Monitoring debtor balances to ensure a reduction in debtors DSO
Consistently meeting collection targets.
Working closely with the sales teams to understand contract terms for new and renewed contracts to determine and document appropriate revenue recognition.
Undertaking complex account reconciliations & working out payment plans for the longstanding accounts.
Generate and develop age analysis, bad debt forecast, territory sales performance and other reports
Reporting to Management ( Strainstall Middle East ) & Group management - James Fisher and Sons plc ( UK)
Supervising Account Receivable Department ( 500+ Customers)
Implementing credit control policy & procedures of the Group for minimizing bad debts risk.
Reduced outstanding days and achieved DSO targets by collecting all overdue amounts on time consistently.
Timely & effective execution of strategies for better collection of overdue balances.
Ensuring timely delivery of invoices, processing and generating reminder letters and monthly statements.
Updating records of sales & collection in ERP system regularly in order to keep the information up-to-date.
Regular account reconciliation with clients and resolving queries if any.
Execution and preservation of a set of wide-ranging Credit Risk Policies and Procedures.
Liaising with customers to ensure payment is received according to agreed credit terms.
Assessment and verification of new credit applications and establishing customers’ credit worthiness and reliability by seeking opinion of reliable sources.
Periodical update of customer information and documentation.
Following debt by telephone and email and overseeing the effective collection of company receivables.
Coordinating with the sales team to resolve outstanding queries and weekly meeting with sales team for collection follow up.
Daily and month end reporting and account reconciliations.
Examining and resolving queries relating to non-payment of invoices.
Starting legal proceedings if debts are not paid within an agreed time.
Managing relationships with the customers and visiting major customers periodically.
Coordinating with debt collecting agencies, court, and police station for the recoveries of bad debts.
Supporting finance department whenever required including month end closing and for other accounting requirements.
Reporting to the financial manager regularly.
Preparation & submission of Invoices & Maintaining Up-to-date billing system
Verification of revenues by means of certifications from consultants for contract works( Progress Billing, POC methods)
Tracking work in progress & claiming payments in accordance with certifications by authorities
Follow up on payments of overdue invoices internally and externally
Collection and reporting activities according to specific deadlines
Review AR aging to ensure compliance
Maintaining daily updates of the accounts receivable aging to reflect payments received
Reconciliation of debtor accounts by providing SOA’s & acquiring balance confirmations regularly.
Maintaining accounts receivable customer files and records.
Investigating and resolving customer queries
Communication with customers via phone, email & visiting personally.
Coordination & follow with sales team of the collection of overdue payments.
Providing forecasts reports on weekly, monthly & need basis
Maintaining up-to-date AR records in ERP systems ( Oracle JD Edwards, Microsoft Dynamics )
Assisting in month/year end closures & involved in Internal & external audits
Processing financial transactions related to office and project expenditures, maintaining an effective filing system & reporting to Top Management.
Banking Functions
Accounts Payable
Petty Cash
Payroll
Office Administration
Master of Business Administration (Finance)