What does a Credit And Collections Analyst do?

Account representatives are employees who manage client accounts and act as the main contact of the clients they are handling. They maintain existing accounts by updating client details regularly. They also check up on clients to see if they are still satisfied with the products or services of the company. They also create new accounts by welcoming new clients and assisting them in their needs. Account representatives manage client inquiries and process client requests. They also address complaints and ensure that any challenges are mitigated and that clients remain with the company.

These skill sets are where the common ground ends though. The responsibilities of a credit and collections analyst are more likely to require skills like "credit limits," "financial statements," "reconciliations," and "credit memos." On the other hand, a job as an account representative requires skills like "patients," "patient accounts," "data entry," and "medicaid." As you can see, what employees do in each career varies considerably.

Accounts receivable specialists are members of the organization's finance or accounting department. They are responsible for managing the collection of payments for the company. They prepare official receipts and coordinate with account payable specialists from other companies with pending payables. They ensure that clients pay on time, and they also follow up on payments when necessary. They are responsible for checking whether the clients have already paid in full. Accounts receivable specialists are in charge of updating accounting records as well to ensure that client records are up to date.

Each career also uses different skills, according to real credit and collections analyst resumes. While credit and collections analyst responsibilities can utilize skills like "credit worthiness," "credit risk," "phone calls," and "credit reports," accounts receivable specialists use skills like "patients," "data entry," "general ledger," and "medicaid."

An account specialist is responsible for reaching out to customers or potential clients through calls, emails, and other forms of correspondence to secure sales and strengthen business relations. An account specialist may also perform other tasks such as arranging appointment schedules with clients, providing price quotes and responding to further inquiries, process orders, generating sales leads, and handling complaints and resolving issues. Furthermore, an account specialist may also be involved in developing strategies, finding new opportunities, producing and completing necessary documents, and preparing reports, all in adherence to the company's policies and regulations.

The required skills of the two careers differ considerably. For example, credit and collections analysts are more likely to have skills like "credit limits," "reconciliations," "credit memos," and "credit worthiness." But a account specialist is more likely to have skills like "patients," "account management," "powerpoint," and "data entry."

Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.