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What are the main steps of managing the collection in big companies?

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Question ajoutée par Faris Bafaqih , Manager General Ledger , Saudia Arabia Logistics - SAL
Date de publication: 2016/02/03
Sabine YOUNES
par Sabine YOUNES , Senior Supervisor , OMT s.a.l.

1-keep updates regarding your customer financial profile

2- Daily close follow up on debtor balances

3- Minimize the risk (by increasing guarantees ...)

Ahmed Adeel Ibrahim
par Ahmed Adeel Ibrahim , Consumer Banking Employee , Habib Metro Bank

- Keep your clients intact in early ageing so as to avoid putting him into bad debts.

- Ensure the promises are kept and numbers are monitored on a daily basis.

- Ensure to resolve early queries and complains of the client so that he may not fall into higher delinquencies that creates bad image at both side.

- Unsecured loans must be organized by cycle wise instead on a monthly closings because of larger portfolio size.

- To avoid your accounts move into higher delinquencies and at certain point you have to take provisioning against it.

- Keep your team intact and motivated.

- Ensure if the account is skip or non-starter then it must be handled timely.

- Ensure proper legal action to be taken if required timely so as to avoid delaying tactics of the client.

- Ensure proper training to be given to the staff and they know the delay tactics of the client subsequently have empathy with the client if it is a genuine case.

- Ensure timely suit file & its execution.

- Ensure that your accounts not to be time barred.

 

Faris Bafaqih
par Faris Bafaqih , Manager General Ledger , Saudia Arabia Logistics - SAL

I agree with you .However, the observation should be there every day in days work to be aware of the month analyzing and every single movement has been done.

Elmund Renz Bernardo
par Elmund Renz Bernardo , Credit investigator and appraiser , Rbo Group financing company

analyze the movements in collection at the end of the month

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