Elliott is among several senior Magpies currently unsigned for next season, having last recommitted to the club on a three-year deal in 2019, turning down the reported advances of Brisbane.
Talks between the Magpies and Elliott have progressed throughout the year, with Anderson revealing on SEN that the club are confident in locking away Elliott for 2023 and beyond.
“Discussions are going well with ‘Billy’,” Anderson said.
“Graham Wright heads up that area and does a great job in that space.
“Discussions with Billy are going well.”
The Magpies are also working through negotiations with midfield-forward Jordan De Goey, who is also yet to secure his future amid interest from rival clubs.
Despite his contract status, ruckman Brodie Grundy has also been tied to the exit at Olympic Park, with the Magpies looking to be a large player in the upcoming off-season.
Collingwood will be working through a delicate few months in regards to their salary spending, hoping to secure Lion Daniel McStay on a five-year deal, while also being linked to GWS trio Tim Taranto, Tanner Bruhn and Bobby Hill.
What that means for the likes of Elliott, De Goey and Grundy is yet to be known.
Elliott has played 149 games for Collingwood since making his debut a decade ago, booting 216 goals.
The Magpies will go head-to-head with fellow flag contenders Melbourne at the MCG on Friday night in what will be Elliott's 150th game in black and white, and a chance to secure their 11th straight win.