Accounts Receivable Manager
Chicago, IL, United States
Description
BE A PART OF SOMETHING SPECIAL - We are Immediately Hiring!
Cozzini Bros. Inc is America's #1 cutlery exchange service. We keep over 95,000 commercial kitchens nationwide with Cozzini-Engineered sharp knives and blades, exchanged every two weeks. We have engineered the next generation of durable, safety-enhanced cutlery that stays sharp in the most demanding of food service environments. Founded in 1905 as a family business in Chicago, Cozzini Bros has recently emerged as the only nationwide sharpening solution in the USA. Cozzini is driven by six core values: Safety, Service, Trust, Teamwork, Integrity and Continuous Improvement. These values are what give us the cutting edge in knife exchange.
As the Accounts Receivable Manager, you will play a crucial role in ensuring the financial health of our company by effectively managing accounts receivable operations. You will oversee a large customer base, maintain control over Days Sales Outstanding (DSO), manage accounts receivable aging, monitor and reduce bad debt percentage, implement process improvements, and coordinate with third-party collection agencies.
Key Responsibilities:
* Accounts Receivable Management:* Manage and maintain accurate records of accounts receivable transactions.* Monitor invoicing, billing, and payment processes to ensure accuracy and efficiency.* Review and reconcile customer accounts to ensure timely and accurate payments.* Implement collection policies and procedures to minimize collection risk and maintain healthy cash flow.* Manage and own the process from Sales order conversion to payment application to collection.* Ensure efficiency and continuous process improvement for the cash application department.
2.DSO Control:
* Develop strategies to reduce Days Sales Outstanding (DSO) and improve cash flow.* Analyze trends and identify areas for improvement in the accounts receivable process.* Work closely with sales and customer service teams to resolve issues and expedite collections.* Work closely with the delivery team to resolve customer balances.
3. AR Aging Management:
* Monitor accounts receivable aging reports and take appropriate actions to address overdue accounts.* Communicate effectively with customers to resolve payment discrepancies and past-due balances.* Develop and implement collection strategies to accelerate cash collections and minimize bad debt.
4.Bad Debt Reduction:
* Analyze bad debt trends and develop strategies to minimize bad debt losses.* Evaluate escalation processes to prevent bad debt of growing.* Collaborate with delivery and sales teams to collect and communicate with customers regarding past dues.
5.Process Control & Improvements:
* Identify opportunities to streamline accounts receivable processes and improve efficiency.* Implement automation tools and technology solutions to enhance productivity and accuracy.* Continuously evaluate and optimize the accounts receivable workflow to drive performance improvements.
6.Manage internal and outsourced collection teams.
* Manage relationships with third-party collection agencies.* Monitor collection activities and ensure compliance with company policies and regulatory requirements.* Track the progress of the 3rd-party collection on provide directions to deliver results.* Provide management with KPIs to show progress and opportunities.* Provide guidance and support to collection agencies to maximize recovery efforts while maintaining positive customer relationships.
Requirements
Qualifications:
* Bachelor's degree in Accounting, Finance, or a related field.* Proven experience in accounts receivable management, preferably in a high-volume environment.* 4+ years of people management experience in Accounts Receivable* 8+ years of experience in Account Receivable function* Strong understanding of accounting principles and collections processes.* Proficiency in accounting software and Microsoft Excel; experience with ERP systems ( NetSuite )preferred.* Excellent communication, negotiation, and problem-solving skills.* Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced environment.* Experience in process improvement initiatives and project management is a plus.
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