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Cash Collectors are Heroes<\/strong> within companies. <\/p>\n\n\n\n

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No matter pandemic, no matter war, no matter internal politics, you rigorously chase cash. You salvage the company in times of crisis. <\/p>\n\n\n\n
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Some people feel the job \u201cCash Collector\u201d is less valued than the job \u201cCredit Analyst\u201c, within some companies. They suspect an analytical skillset is considered more \u201cnoble\u201d than the ability to overcome payment issues with customers. But can this notion be justified?<\/p>\n\n\n\n
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Of course not. <\/p>\n\n\n\n
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Cash Collection people are excellent communicators<\/strong> with solid analytical skills. Credit Analysts are more \u201cback-office\u201d people with a sharp finance, technical and questioning mindset. As the concept of shared services evolves cash collection and credit analysis tasks get more segregated, yet one could not exist without the other.<\/p>\n\n\n\n
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My regional credit managers at Parker Hannifin were furtively called \u201cSuper Collectors\u201d. Fittingly, because all of them had extraordinary skills to build relationships, influence customers, analyse and resolve cash issues.<\/p>\n\n\n\n
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Here are 7 reasons why Cash Collector Heroes deserve to be on the pedestal within every company. <\/h2>\n\n\n\n
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You salvage your company. Cash is the lifeblood of every company<\/a>. If Cash is not available, or insufficient the company will be liquidated. You secure the lifeblood for your company, in your credit collector role.<\/li>
You are the \u201cface\u201d<\/strong> of your company. Equally to salespeople, you build the image and \u201ccustomer experience\u201d every time you interact with customers. \u00a0But then again, your job is tough, because you interact with customers, usually in challenging situations! It is far easier to build relationships when it is about a pleasant topic\u2026But creating a positive rapport while chasing money is a real art!<\/li>
You connect people<\/strong> within the company. Cash cannot be collected in isolation from the business. There are many reasons why customers do not pay; liquidity problems, country risk, quality and invoicing issues to mention a few. In your Cash Collector role, you overview the entire order to cash process and all key stakeholders. Should the next step be followed up within the customer\u2019s organisation or within your sales, client services, pricing, production, shipping, billing, quality or financial team – <\/a>you know who to turn to, both within your own and within your customer\u2019s organisation.<\/li>
You attentively motivate others<\/strong>. Teams have different agendas. Everyone has its own priorities, which are not necessarily aligned with yours. You recognise the differences, and you are capable of finding the trigger to move and shake others for action. \u00a0\u00a0<\/li>
You are an excellent communicator<\/strong> and interact effectively with others. You can easily translate the language of finance into the language of sales. You actively listen to customers, mediate disputes and differences in business settings. Your empathy and emotional intelligence is indispensable to tackle root causes behind money questions. Plus, you master bargaining and\u00a0 conclude win-win agreements. \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/li>
You methodically analyse<\/strong> situations resulting in delayed payments. You diligently define payment alternatives, incentives and finance schemes highlighting their impact on the bottom line. \u00a0<\/li>
You are a problem solver<\/strong>. You understand the playground, have attention to detail and have an immense drive to settle the matter at the satisfaction of your customers. \u00a0<\/li><\/ol>\n\n\n\n<\/div>
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Digitalisation does of course affect the cash collection work<\/a>; it simplifies and eliminates repetitive tasks; sending statements or dispute coding for example.<\/p>\n\n\n\n
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Customer interactions and problem-solving gains are, however, an increasing importance within every company where \u201cvalue for the customer\u201d principle prevails. <\/p>\n\n\n\n
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Good Cash Collectors have finance technical competences, strong people and communication skills. This rare combination makes Super Collectors important for every company. <\/p>\n\n\n\n
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