Key Responsibility Areas (KRA) & Key Performance Indicators (KPI) for Collection Representative
1. Customer Account Management
KRA: Managing customer accounts efficiently to ensure timely payments and customer satisfaction.
Short Description: Account Management for Payment Collection
- Percentage of accounts with timely payments
- Customer satisfaction rating on account handling
- Average days outstanding for overdue accounts
- Percentage of resolved customer queries
2. Communication and Negotiation
KRA: Effectively communicating payment terms and negotiating payment plans with customers.
Short Description: Clear Communication and Negotiation for Payment Collection
- Number of successful negotiated payment plans
- Percentage of customers reached for payment discussions
- Reduction in payment plan defaults
- Feedback rating on communication effectiveness
3. Data Analysis and Reporting
KRA: Analyzing payment data trends and generating reports for decision-making.
Short Description: Data Analysis for Payment Collection Optimization
- Accuracy of payment trend analysis
- Number of actionable insights from data reports
- Timeliness of report submission
- Reduction in average collection cycle time
4. Compliance and Legal Adherence
KRA: Ensuring compliance with payment collection regulations and legal requirements.
Short Description: Legal Compliance for Payment Collection
- Audit rating on compliance adherence
- Number of legal disputes resolved favorably
- Training completion rate on compliance updates
- Percentage of accounts following legal procedures
5. Relationship Building
KRA: Building and maintaining positive relationships with customers to facilitate payment processes.
Short Description: Customer Relationship Management for Payment Collection
- Customer retention rate post-collection interaction
- Feedback rating on customer relationship management
- Number of referrals from satisfied customers
- Percentage of repeat timely payments from customers
6. Target Achievement
KRA: Meeting or exceeding set payment collection targets within specified timelines.
Short Description: Target Attainment for Payment Collection
- Achievement percentage of monthly collection target
- Reduction in outstanding payment volume
- Number of accounts meeting payment deadlines
- Percentage increase in collection efficiency
7. Process Improvement
KRA: Identifying and implementing process improvements to streamline payment collection procedures.
Short Description: Process Enhancement for Payment Collection Efficiency
- Number of implemented process enhancements
- Reduction in manual processing time for payments
- Feedback rating on process improvement effectiveness
- Increase in overall team productivity
8. Quality Assurance
KRA: Ensuring high quality and accuracy in payment collection activities and documentation.
Short Description: Quality Control for Payment Collection Processes
- Accuracy rate of payment entries
- Number of quality checks performed per day
- Reduction in payment errors and discrepancies
- Adherence to quality standards in audit evaluations
9. Training and Development
KRA: Continuous learning and development to enhance payment collection skills and knowledge.
Short Description: Skill Development for Payment Collection Excellence
- Participation rate in training programs
- Improvement in customer interaction skills post-training
- Application of new knowledge in payment collection tasks
- Feedback rating on training effectiveness
10. Team Collaboration
KRA: Collaborating effectively with team members to achieve collective payment collection goals.
Short Description: Teamwork for Successful Payment Collection
- Team performance rating on collective target achievement
- Number of successful team initiatives for payment collections
- Feedback rating on teamwork and collaboration
- Reduction in individual account workload through team support
