Summary
Overview
Work History
Education
Skills
Websites
References
Timeline
Generic

Michelle Bennett

Hampshire

Summary

Experienced accounts receivable manager with a strong background in developing and executing billing and credit policies. Demonstrated expertise in financial reporting, reconciliation, and analysis, leading to improved operational efficiency. Proficient in industry-standard software, with a proven ability to enhance profitability through strategic financial management. Recognized for analytical skills and effective communication of complex financial data.

Overview

28
28
years of professional experience

Work History

Accounts Receivable Manager

Diverzify + LLC
07.2023 - 11.2024
  • Leadership, Critical thinking & Problem solving
  • Process Improvement for collections & cash application
  • Manage team of 5, 2 cash applications and 3 collectors
  • Collections management
  • Billing & Invoicing issues
  • Weekly AR Meetings with each location team to review past dues.
  • Collection Metrics Dashboard
  • Maintained regular performance appraisals for subordinates through verbal, written and on-going review programs.
  • Generated monthly statements for clients outlining their current balances due.
  • Assisted in month-end closing process, including account reconciliations, journal entries, and accruals.
  • Facilitated payment of invoices due by sending bill reminders and contacting clients
  • Upheld strict quality and accuracy standards through daily process adjustments.
  • Streamlined operations to improve on-time collections and reduce invoice processing time.
  • Participated in strategic planning to improve overall financial health of the organization.
  • Reviewed customer contracts for pricing accuracy prior to invoicing customers.
  • Developed and enforced policies regarding credit and collections to minimize risk.
  • Developed and implemented financial strategies to maximize profits and reduce costs.
  • Recommended new financial and accounting software packages. replacing various non-integrated offerings.
  • Received and input receivables payments in compliance with internal financial procedures.
  • Led a team of accounts receivable specialists, providing training and performance evaluations.
  • Prepared monthly aging reports for review by management.
  • Reconciled daily cash receipts and applied payments to the appropriate accounts.
  • Coordinated with the accounting department to post payments and adjustments accurately.
  • Ensured compliance with federal, state, and local regulations related to accounts receivable processes.
  • Managed entire accounts receivable process
  • Provided training and guidance to Accounts Receivable staff members as needed.
  • Researched disputed invoice items for resolution of payment delays.
  • Coordinated with the sales and customer service departments to resolve billing disputes.
  • Analyzed trends in customer payment patterns to identify potential issues early.
  • Created detailed reports on overdue accounts for internal use and external reporting requirements.
  • Processed refunds for returned merchandise in a timely manner.
  • Investigated and resolved customer inquiries regarding billing issues or discrepancies.
  • Monitored delinquent accounts and initiated collection efforts as needed.
  • Ensured compliance with internal controls and accounting standards in receivables management.
  • Drafted correspondence such as dunning letters or demand notices when necessary.
  • Summarized receivables by maintaining invoice accounts and coordinated monthly transfers to accounts receivable accounts.
  • Followed up with customers via phone, email, or mail regarding outstanding invoices.
  • Negotiated payment plans with delinquent accounts to maximize recovery rates.
  • Maintained updated customer records, including contact information and payment terms.
  • Conducted monthly reconciliation of the accounts receivable ledger to ensure accuracy.
  • Prepared detailed reports on accounts receivable status for senior management review.
  • Analyzed customer accounts to identify and resolve discrepancies.
  • Completed daily accounts receivable ledger reconciliations.
  • Negotiated payment plans with past due customers while ensuring full compliance with company policies.
  • Streamlined accounts receivable processes through automation, enhancing efficiency.
  • Maintained accurate records of all accounts receivable transactions.
  • Verified validity of account discrepancies by obtaining and investigating information from sales, trade promotions, customer service departments and from customers.
  • Developed and maintained aging report to monitor and analyze outstanding receivables.
  • Developed and maintained relationships with customers to ensure timely payment of invoices.
  • Implemented new procedures within the Accounts Receivable department to improve efficiency.
  • Initiated legal or collection agency intervention for severely overdue accounts.
  • Maintained updated knowledge through continuing education and advanced training.
  • Assisted with customer requests and answered questions to improve satisfaction.
  • Approached customers and engaged in conversation through use of effective interpersonal and people skills.
  • Contributed innovative ideas and solutions to enhance team performance and outcomes.
  • Conducted comprehensive research and data analysis to support strategic planning and informed decision-making.

Global Credit Manager

Ideal Clamp Products Inc. Ideal Tridon
01.2015 - 01.2023
  • Leadership, Critical Thinking & Problem solving
  • Process Improvement for collections, deductions, & cash application
  • Reporting, Cash-flow Forecasting, Global Working Capital, Credit Limit Analysis
  • Collections management - 90% & more in the current bucket, Globally
  • Billing & Invoicing issues
  • Monthly GL entries to balance AR & Cash, as well as Bad Debt Accrual & Write offs
  • .00058 Bad Debt write off in 2023, 0 Bad Debt write off in 2022, .0003 Bad Debt write off 2021
  • Credit Decisions & investigation to determine credit worthiness of new & existing customer set up through credit reports, references & financial statement analysis
  • 5000 active customers globally, large presence with global manufacturing, automotive, industrial automation, after market & OEM based
  • Negotiate payment plans with customers in financial distress
  • Weekly Aging sent to sales for assistance & discussion, also one on ones with Sales
  • Monthly meeting with all shareholders in this company to discuss, resolve, and create proactive improvements
  • Weekly status meetings with the Controller and CFO to provide updates on collections and deduction management.
  • Created monthly working capital global statistics reports, through pivot tables, and graphs.
  • Managed and monitored corporate credit policies to minimize risk and ensure compliance.
  • Led, trained, and supervised credit department staff, promoting a culture of high performance and accountability.
  • Prepared and presented regular reports on credit risk exposure and performance to senior management.
  • Evaluated and approved credit applications based on thorough financial analysis and risk assessment.
  • Established credit limits by analyzing financial information and assessing market conditions.
  • Identified possible issues with credit systems and monitoring by streamlining processes ahead of time.
  • Monitored economic trends and industry developments to proactively adjust credit policies.
  • Leveraged technology to improve the efficiency and accuracy of credit management processes.
  • Coordinated preparation of external audit materials and external financial reporting.
  • Oversaw credit review process, ensuring timely and accurate assessments.
  • Utilized financial modeling to forecast future credit trends and inform policy adjustments.
  • Assessed customer creditworthiness based on financial reports, payment histories and other sources of information.
  • Applied deep understanding of industry best practices and legal requirements to prevent critical incidents.
  • Implemented new initiatives, which resulted in quicker payments and better turnaround times to resolve customer issues.
  • Built financial models to allocate resources, forecast cash and investment needs and make capital budgeting decisions.
  • Developed or analyzed information to assess current or future financial status of firms.
  • Maintained regular performance appraisals for subordinates through verbal, written and on-going review programs.
  • Compiled data and analyzed latest trends, identifying risks preventatively.
  • Conducted periodic reviews of existing clients to adjust credit limits and terms as necessary.
  • Maintained accurate and up-to-date records of all credit transactions and decisions.
  • Created financial management mechanisms to minimize financial risk to business.
  • Completed month-end and year-end closings, kept records audit-ready and monitored timely recording of accounting transactions.
  • Collaborated cross-functionally with sales, management and other departments to maintain effective operations.
  • Completed ongoing professional training to facilitate accurate and productive credit management.
  • Enhanced customer satisfaction by providing timely and informed credit decisions.
  • Recommended new financial and accounting software packages. replacing various non-integrated offerings.
  • Developed and maintained relationships with external credit reporting agencies and financial institutions.
  • Developed and implemented strategies for effective debt collection, reducing delinquencies.
  • Conducted reviews and evaluations for cost-reduction opportunities.
  • Evaluated customer applications for credit limits in accordance with established guidelines.
  • Developed and maintained relationships with customers to ensure prompt payments on accounts receivable.
  • Analyzed financial data to determine the degree of risk involved in extending credit.
  • Provided guidance and support to other departments regarding the development of new credit policies and procedures.
  • Negotiated repayment plans with debtors who were unable to pay their full balance due immediately.
  • Ensured compliance with national and international credit regulations and laws.
  • Coordinated approval or rejection of lines of credit or commercial, real estate or personal loans.
  • Collected overdue payments from customers using various methods such as phone calls, emails or letters.
  • Coordinated with sales and customer service departments to align credit policies with business objectives.
  • Researched industry trends in order to develop innovative strategies for improving collection processes.
  • Created standard operating procedures and delivered training to credit personnel to improve operational efficiency.
  • Negotiated terms with clients facing financial difficulties to maximize recovery and maintain relationships.
  • Conducted detailed financial analyses to determine creditworthiness of potential and existing clients.
  • Monitored customer account details for payment activity.
  • Reviewed accounts for signs of fraud and non-payment issues.
  • Investigated discrepancies between actual balances owed by customers versus amounts recorded in company's accounting system.
  • Implemented credit scoring models to streamline the credit approval process.
  • Prepared monthly departmental reports summarizing the status of outstanding receivables.
  • Determined resources required to achieve successful software conversion and validation upgrade.
  • Maintained updated knowledge through continuing education and advanced training.
  • Assisted with customer requests and answered questions to improve satisfaction.
  • Managed time effectively to ensure tasks were completed on schedule and deadlines were met.
  • Collaborated closely with team members to achieve project objectives and meet deadlines.
  • Worked effectively in team environments to make the workplace more productive.

Consultant - Contract Collections Management

Gallagher Bassett Services Inc.
01.2015 - 12.2015
  • Leadership & Critical thinking development
  • Process Improvement
  • Reporting
  • Collections management - Focus on Reducing AR Bad Debt Reserves
  • Billing & Invoicing
  • Critical Thinking & Problem solving

Consultant - Contract

Underwriters Laboratories
01.2013 - 12.2015
  • Project Management - Global Change initiative Purchase Order Required Policy, Communicate & Implement Globally
  • Rewrite Global Credit & Collection Policies - Implement Globally
  • Collection of 2013 & 2014 acquisition invoices

Global Director of Credit, Collections, Billing, & Cash App/Policy and Procedure Development - Contract

Underwriters Laboratories
01.2013 - 12.2015
  • Participated in systems upgrade to Oracle r12.
  • Billing, Invoicing, Cash Application, Credit, & Collections
  • Led global team of 6 direct reports and over 30+ indirect reports located in Asia, Europe, US, Mexico, Canada.
  • Create efficiencies through policy implementation and perform customer reviews financial vetting.
  • Oversaw financial statement analysis & reporting, AR reconciliation, project management, cash application, credit risk, collections.
  • Write all policy and procedure documents used globally regarding cash application, billing, bankruptcy, credit risk, collections, purchase order requirements, bad debt W/O.
  • Support acquisition integration into global credit department.
  • Resolve billing issues, cash application errors, purchase order requirements, collections of 2013 invoices.
  • Work with global credit department project management team to develop new global structure, establish global collection goals and reporting.

Director of Operations - internship

Hiperio Systems, LLC
01.2012 - 12.2013
  • Supported operations project management, business plans, all financial transactions including AR & AP.
  • Set up company with IRS, established banking facility and created billing procedure.

Director of Credit

National Material L.P
01.2011 - 12.2012
  • Managed 5 people and reorganized credit department to maximize effectiveness and improve efficiencies.
  • Oversaw collections strong DSO 40-44 days, 2500 portfolio active sold to customers, collections.
  • Wrote and implemented all new credit corporate wide policies/procedures.
  • Created job descriptions for credit, collections, supervisor, cash application roles.
  • Achieved Top 20 Customer Reporting / Management Reporting.
  • Revamped cash application process and involved in global credit decision-making.
  • Assist with collections as escalated.
  • Financial statement & credit reports to establish credit worthiness.

National Credit Manager

Pregis Corporation
01.2008 - 12.2011
  • Managed 8 people and reorganized credit department to maximize effectiveness and improve efficiencies.
  • Wrote all job descriptions for credit, collections, deductions, cash application roles.
  • Performed Sr. Manager level responsibilities for Pregis Packaging NA, Intellipack & Hexacomb credit. collections, minimizing risk while maximizing sales on a global level.
  • Established DSO 36/37 days, 4000 portfolio active sold to customers, collections.
  • Implemented all new credit corporate wide policies/procedures, a Top 20 Customer Reporting.
  • Participated in SAP Implementation project.
  • Restructured entire deduction management process.
  • Performed Cash Flow Forecasting and supported SOX Audit.

Senior Manager of Corporate Credit

Unisource Worldwide Inc
01.2007 - 12.2008
  • Sr. Manager level responsible for 123 Divisions, managed 6 people.
  • Reorganized credit risk department to be in line with company vision.
  • Wrote job descriptions for Credit Risk Dept. roles.
  • Assessed risk, set credit limits to meet sales needs/minimize risk and exposure by evaluating character, capacity, capital collateral and conditions.
  • Monitored 66,000 active customers with an average monthly receivable balance of $420M.
  • Wrote and implemented all credit risk corporate wide credit policy/procedures.
  • Constructed credit application template and implement on-line credit application.
  • Revamped entire collections process and supported implementation of DNBi.

National Credit Manager

Bosch Rexroth Corporation
01.2004 - 12.2007
  • Sr. Manager level responsible for eight U.S. locations, assess risk, set credit limits to meet sales needs/minimize risk and exposure by evaluating character, capacity, capital collateral and conditions.
  • Played major role in the reorganization of the corporate credit department - Managed 16.
  • Monitored a portfolio of 8000 customers, Average monthly receivable balances of $84M, negotiated terms.
  • Collaborated with sales to build and maintain good customer rapport. Implemented corporate wide credit policy/procedures to improve efficiencies.
  • Developed credit application template and provided training courses for Sales to allow for better understanding of Credit Function.
  • Centralized eight location credit department into one.
  • Implemented I many Collection Management system and SAP (8 instances).
  • Performed ISO Certification Audits.

Credit Manager

Bosch Rexroth Corporation
01.2001 - 12.2004
  • Responsible for one U.S. location to assess risk, set credit limits to meet sales needs/minimize risk and exposure.
  • Monitored and managed a portfolio of 1200 customer accounts, collections, average monthly receivable balance of $9M.
  • Managed 3 team members.

Credit Supervisor

Bosch Rexroth Corporation
01.1999 - 12.2001
  • Responsible for customer portfolio of 1000 customers, collections, Average Receivable balance $6.5M.
  • Supervised one team member.

Credit Analyst/Sr. Credit Analyst

Bosch Rexroth Corporation
01.1997 - 12.1999
  • Responsible for customer portfolio of 600 customer, collections, Average receivable balance $4.5M.

Education

MBA - Business Administration

University of Phoenix

Batchelors - Business Admin

NationalLouis University

Skills

  • SAP 46C and Oracle 11i
  • FSCM and Oracle r12
  • Infinium and AS400
  • Great Plains and Syspro
  • IFS Cloud and SFD
  • Collections management
  • Leadership and mentoring
  • Critical thinking and problem solving
  • Process improvement strategies
  • Credit analysis and control
  • Dispute management and resolution
  • Cash application and handling
  • Billing issues resolution
  • Financial analysis and reporting
  • Accounts receivable management
  • AR reconciliation and reporting
  • Customer relationship management
  • Data analysis and research skills
  • Performance evaluation and management
  • Effective communication skills
  • Strategic planning and project management
  • Statement preparation and invoice statements
  • Collections experience and expertise
  • Account reconciliation and updating
  • Financial records auditing support

References

References available upon request.

Timeline

Accounts Receivable Manager

Diverzify + LLC
07.2023 - 11.2024

Global Credit Manager

Ideal Clamp Products Inc. Ideal Tridon
01.2015 - 01.2023

Consultant - Contract Collections Management

Gallagher Bassett Services Inc.
01.2015 - 12.2015

Consultant - Contract

Underwriters Laboratories
01.2013 - 12.2015

Global Director of Credit, Collections, Billing, & Cash App/Policy and Procedure Development - Contract

Underwriters Laboratories
01.2013 - 12.2015

Director of Operations - internship

Hiperio Systems, LLC
01.2012 - 12.2013

Director of Credit

National Material L.P
01.2011 - 12.2012

National Credit Manager

Pregis Corporation
01.2008 - 12.2011

Senior Manager of Corporate Credit

Unisource Worldwide Inc
01.2007 - 12.2008

National Credit Manager

Bosch Rexroth Corporation
01.2004 - 12.2007

Credit Manager

Bosch Rexroth Corporation
01.2001 - 12.2004

Credit Supervisor

Bosch Rexroth Corporation
01.1999 - 12.2001

Credit Analyst/Sr. Credit Analyst

Bosch Rexroth Corporation
01.1997 - 12.1999

MBA - Business Administration

University of Phoenix

Batchelors - Business Admin

NationalLouis University

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Michelle Bennett