What is a collections officer?
A collections officer is responsible for maintaining effective debt management controls, chasing credit and reconciling customer accounts for a business while managing debtor financial hardships. They are also known as ‘credit officers’, ‘accounts receivable officers’ and ‘debt collectors.’
Credit and collection tasks are particularly well-suited to being outsourced as they consist largely of repetitive, rules-based work. Sending these transactional accounting tasks to an offshore collections officer will free up your local teams' time to perform more value-adding, long-term revenue generation work such as nurturing client relationships.
What makes a great outsourced collections officer?
To be a successful collections officer, you need to be able to empathetically connect with customers, especially those dealing with financial hardship and also have thorough knowledge of accounting practices and credit policies. Familiarity with popular accounting software such as MYOB and XERO as well as CRMs can assist in easily identifying customer credit issues and resolving disputes quicker. In terms of qualifications, a higher education degree or certificate in accounting, bookkeeping or courses on financial hardship and debt control management are desirable.