Asst Credit and Collections Manager
Dhofar Global Tr Co LLC
Total years of experience :11 years, 1 Months
Work Experience
Mar’14 - Nov’18
Dhofar Global Tr. Co. LLC, Sharjah
Growth Path:
Mar’14 - Dec’16 Credit Controller
Jan’17 - Nov’18: Asst. Credit & Collections Manager
Key Result Areas:
~ As Asst. Credit & Collections Manager
Led team of 11 people (7 Collections Executives and 4 Messengers) for payment collection and assisted Collections Manager
Dealt with clientele entailing Government, FM, HORECA, Corporate (FMCG, Oil & Gas, Multinationals and Export) sector customers for payment release and followed up for delayed and bad debt accounts
Managed meetings with clients’ management to ensure release of payments as per agreed payment terms & avoided delay
Maintained relationship with customers from top to bottom level management for getting the payments released in time
Monitored the payment track and deliveries of clients to keep a control on credit and fund flow and improve the aging
Analyzed and recommended credit line amounts and communicated information to customers, other teams and departments
Followed up with sales and operations to ascertain that no internal issues like delayed delivery, pricing issue, correct documentation, purchase orders, contracts and clear payment terms aroused
Ensured recovery management through monitoring of collection & recovery process thereby maximizing revenue generation & minimizing irrecoverable debts
Evaluated over/underpayment; initiated return of overpayments and issued letter requests/inquiries to customers with underpayments or those with unauthorized deductions
Prepared reports and analyses on compliance and adverse trends along with appropriate recommendations or conclusions
Answered audit requirements/enquiries pertaining to Accounts Receivable (AR)
Ensured proper recording and application of cash, management of outstanding invoices; directly interfaced with customers on collection matters and resolution of disputes
Created new to company accounts, ensured validation and customer master management in Sage X3 ERP
Visited customers in Qatar once in 2 months and conducted routine review of Qatar client accounts
Monitored and managed recovery to attain the desired performance output with cost effectiveness leading to profitability
Administered collection; improved profitability & improved loss rate indicators by improving recoveries
Ensured collection of payments from customers within short and stipulated time to achieve assigned monthly targets
Engaged in reconciliation of accounts along with credit management & clearing of credit balances
Enabled checking and provisioning bad debts
Highlights:
Merit of increasing average monthly collections by 1.5 million and enhanced efficiency and effectiveness of collections departments
Managed most problematic and delicate Facilities Management customers in Dhofar Global that accounts to approx. AED 4 million of the total cash flow
o Contributed in streamlining the same in 4 months w.r.t. issues of delayed payment and unpaid existing year invoices e.g.: Idama, Isnaad, ADNH compass, AFM, AES, Emrill Services, Dubai Tourism, Shaikh’s Office, IFFCO, Transguard
Leveraged skills in closing 2010-2015 issues pertaining to delayed payments and bad debts
Saved business worth approx. AED 2 million from customers by visiting and assessing customer credit checks or raising alerts for existing customers
Independently liaised with operations right from receiving purchase orders to invoicing, delivery & reconciliation of accounts
Pivotal in the implementation of:
o Sage X3 ERP, CRM and ISO 9001 certification for Dhofar Global
Led customer invoice related issues/ queries; managed sales account and approved for further credit limit to the customer
Recovered the outstanding receivables from the customers/ debtors and maintained cash flow
Maintained account receivables and reconciled customers/ debtors’ account
Ensured:
o Follow-up for collections related issues
o Invoice collection to be deposited in accounts on daily basis and updated in Customer’s account (CAMS)
Generated monthly collections report for smooth flow of business
Engaged in verifying the invoice reversal request and sending for further approval; sent Statement of Account to customer on request; generated ageing report, follow-up for payments
Followed up for the paid/ partial paid invoices after cheque collection or bank transfer and got the same updated in CAMS
Sent newly generated invoices to customers on daily basis and ensuring that it is received by customers
Ensured that outstanding invoices did not exceed 45 days and reduce it to at least 20% excluding discrepant job invoices
Resolved the discrepant job invoices in 3-5 working days’ time; contacted customers for feedback after providing resolution
Highlight:
Leveraged skills in decreasing the outstanding by approx. 50% in 6month time from AED 1.2million to AED 604k
Sales of life insurance products in Bancassurance channel
•Cross-selling of savings accounts, NRI accounts, salary accounts and credit cards.
•Looking sales of investment products for new to bank and existing customers.