Recovery Specialist

The job of recovery specialist is an important role in today's businesses. All businesses have clients who are not able or not willing to pay their bills. Recovery specialists work with clients who are delinquent on their invoices to gain payment for their employer.

Recovery specialists have been around for a long time, mostly referred to as bill collectors or collections personnel. Today, we use a more politically correct term, but the meaning is essentially the same. Recovery specialists are tasked with collecting past due accounts receivables from delinquent customers.

Recovery specialists often work with computerized collection systems that keep them apprised of the accounts that should be contacted for payment. Contact is generally made via telephone, since letters are typically automatically generated, and have usually already gone out. Recovery specialists typically make more pleasant calls when the account is just a few days past due, simply reminding the customer that it's time to pay. Once the account becomes further behind, however, calls become more serious, and the recovery specialist tries to determine what is keeping the customer from paying, and how to get the matter resolved. Often, recovery specialists will work out payment plans with customers who are not able to pay the full amount owed at one time.

Recovery specialists also take incoming calls from customers who call in because they have received a written demand for payment. Again, they work with the customer to impress upon then the importance of paying the bill, making payment arrangements if necessary.

Recovery specialists must be persuasive speakers. They must be effective at convincing customers to pay the bill owed to their company, even when the customer may be financially strapped and have legitimate reasons for not paying on time. They must also be capable of working with difficult clients, who can often be irate and difficult to talk to. The recovery specialist must remain calm, even when the customer is being belligerent, and must focus on the task at hand. They must be able to negotiate payment plans that are fair to their employer and manageable for a delinquent client. In an ideal situation, the recovery specialist is able to collect the full amount owed, and retain the customer.

Recovery specialists must be very knowledgeable in all applicable collection laws to ensure the protection of the client and their company. They must be tenacious in pursuing clients in order to collect money owed. They must have good phone skills and the ability to work under pressure. Most recovery specialists have a quota or minimum dollar amount to collect each month. Successful recovery agents can make a very good salary, while unsuccessful ones can lose their jobs, since the pay is often at least partially commission on dollars collected.

Recovery specialists may work in the accounts receivable department of a business, or for a collection agency, collecting on behalf of many clients. There are no set educational requirements to be a recovery specialist, though many firms prefer a college degree with some coursework in finance, accounting and customer service.

Recovery specialists are critical to the financial success of an organization, and have a big influence both on revenue retention and customer satisfaction. If you'd like to find out about available jobs as a recovery specialist, visit www.beyond.com.

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