Collection Specialist

Title: Collection Specialist

Location: Gurgaon

Job Responsibilities:

• Oversee collection activities to ensure payments are received on time.

• Set collection strategies (reminders, follow-ups, escalation procedures).

• Set credit limits and approve or decline credit applications.

• Monitor credit risk and adjust limits or terms as needed

• Reduce days sales outstanding (DSO) to improve cash flow.

• Negotiate payment arrangements with delinquent customers.

• Handle disputes related to invoices or payments.

• Prepare credit and collection reports for management (aging reports, risk reports, cash forecasts).

• Develop credit policies to determine who qualifies for credit and under what terms.

• Evaluate creditworthiness of new and existing customers using financial statements, credit reports, and payment history.

• Analyze customer payment trends to identify risks or opportunities.

• Recommend process improvements to reduce bad debt and enhance revenue.

• Ensure legal compliance with credit laws and company policies.

• Maintain accurate documentation of credit decisions, communications, and collection actions.

• Ensure productivity and performance against KPIs such as DSO, delinquency rate, and bad-debt write-offs.

• Work with sales and service team for collections and disputes resolutions.

• Collaborate with finance and accounting on revenue recognition and cash-flow strategies.

• Coordinate with legal on escalated collection or litigation cases.

Preferred Experience:
Minimum 1 year of experience in Credit Risk Management, Financial Analysis, Accounts Receivable Management, Contract Management, Collections.

Preferred Education:
Chartered Accountant or MBA FinancePreferred Skills:
u2022 Credit Risksu2022 Management Reportingu2022 Cash Flow Managementu2022 Financial Acumenu2022 Process Optimizationu2022 Account Management

How we work together
We believe that we are better together than apart. For our office-based teams, this means working in-person at least 3 days per week.Onsite roles require full-time presence in the companyu2019s facilities.Field roles are most effectively done outside of the companyu2019s main facilities, generally at the customersu2019 or suppliersu2019 locations.Indicate if this role is an office/field/onsite role.

About Philips
We are a health technology company. We built our entire company around the belief that every human matters, and we won't stop until everybody everywhere has access to the quality healthcare that we all deserve. Do the work of your life to help the lives of others.u2022 Learn more about .u2022 Discover .u2022 Learn more about .If youu2019re interested in this role and have many, but not all, of the experiences needed, we encourage you to apply. You may still be the right candidate for this or other opportunities at Philips. Learn more about our culture of impact with care .