Coats is the world’s leading industrial thread company. At home in some 50 countries, Coats has a workforce of 17,000 people across six continents.
Coats’ pioneering history and innovative culture ensure the company leads the way around the world. It provides complementary and value-added products, services and software solutions to the apparel and footwear industries. It applies innovative techniques to develop high technology Performance Materials threads, yarns and fabrics in areas such as Transportation, Telecommunications and Energy, and Personal Protection.
Headquartered in the UK, Coats is a FTSE 250 company, a constituent of the FTSE4Good Index Series, a participant in the UN Global Compact, and a Network member of the Ellen MacArthur Foundation.
To control debt collection in order to keep overdue % and DSO within the agreed plan
To closely monitor customers’ financial statuses to minimize bad debt
Principal Accountabilities and Key Activities
- Ensures debts to be collected in due course
- Prepare payment documents, reconcile monthly statements for payment confirmation
- Chasing debts by telephone/ email based on monthly collection target
- Provide collection information to the manager as required for collection forecast periodically.
- Investigating issues relating to late or No payment and coordinating with the Sales team and the
- relevant parties for resolving the relevant issues
- Visit customer for understanding the customer payment process or solving issues when necessary.
- Closely monitors customers’ financial statuses to minimize bad debt
- Reviews long time overdue debts of customer and block orders when required
- Processing and generating appropriate reminder letters required.
- Regular updates sales contracts, communicate credit term variances between contract & system to line manager
- Reviews and keeps payment terms and credit limits offered to customers up-to-date which reflect the actual sales business and minimize risks and processing requests on CCMS.
- Frequently reminds delinquent customers on payment and submit case of bad debts to court when required.
- Perform admin tasks required for a credit officer
- Reconcile customer payments and allocate to receivables.
- Confirm AR balance with customer periodically
- Review system block status and provide information for order release when necessary
- Performs such other duties and responsibilities that may be assigned from time to time.
- Rebate and Discount Proposals from sales support - Validation in accordance with agreement and checking the reasonability/correctness.
- Price issues and ensure appropriate price maintenance in SAP in alignment to contract – Dispute resolution and Credit note handling