Connect & Heal – Specialist – Account Receivables

Connect & Heal Primary Care Pvt. Ltd; Bengaluru; On-site; INR 700,000 - 900,000; Full time

Job summary

A healthcare company is looking for an Accounts Receivable Specialist to handle the receivables process. Key responsibilities include maintaining positive cash flow, managing overdue accounts, and ensuring timely collections. Candidates should possess a Master's degree and have 7-10 years of relevant experience. This role is crucial for financial reporting and maintaining customer relationships.

Qualifications

• 7-10 years of experience in collections.
• Proven track record in managing receivables.
• Strong communication capabilities.

Responsibilities

• Ensure timely collection of invoices to maintain cash flow.
• Monitor customer outstanding balances and take action on overdue accounts.
• Engage with clients to resolve overdue invoices and queries.

Skills

Detail-oriented

Proactive

Strong communication skills

Understanding of accounting procedures

Education

Master’s degree in accounting or business management

Job description

Location: HSR Layout; Bangalore

Employment Type: Permanent & Full time

Years of Experience: 7-10 years

Job Summary

• We are seeking a detail-oriented and proactive Accounts Receivable (AR) Specialist to manage and optimize our receivables process.
• In this role, you will be responsible for ensuring timely invoice collections, monitoring outstanding payments, and maintaining accurate customer payment records.

You

• Will work closely with clients to address overdue balances, resolve queries, and liaise with internal teams to reconcile accounts.
• Additionally, you will support contract renewals, assist in identifying doubtful debts, and advise on necessary provisions.
• Your contributions will be critical to maintaining positive cash flow and minimizing financial risks, while also providing key insights through regular reporting and reconciliation activities.

Key Responsibilities

• Invoice Collection Management: Ensure the timely collection of invoices within the designated credit period, maintaining positive cash flow and minimizing outstanding receivables
• Accounts Review: Regularly monitor customer outstanding balances and aging reports to track overdue accounts and take proactive action
• Contract Renewal Review: Evaluate pending renewal invoices and identify dependencies on contract renewals to ensure timely billing and collection
• Invoice Submission Monitoring: Track and ensure adherence to timelines (TAT) for invoice creation, submission, and client acknowledgment
• Customer Coordination: Engage with clients to address overdue invoices, ensuring clear communication and prompt resolution of payment delays
• Payment Follow-up: Conduct regular follow-ups with clients to ensure timely receipt of payments
• AR Reconciliation: Reconcile Accounts Receivable (AR) balances with customers and internal teams (Sales, KAM, and SPOC) to ensure accurate and up-to-date records
• Payment Record Maintenance: Maintain accurate and up-to-date records of customer payments and outstanding balances
• Legal Liaison: Initiate discussions with the Legal department for overdue and delinquent payments and take appropriate action in line with company policy
• Query Resolution: Address customer queries regarding invoice breakdowns, GST, TDS, and other clarifications within the defined TAT
• Invoice Adjustment and Provisioning: Advise the accounting team on necessary adjustments to invoices or collections, assess doubtful debt positions, and provide recommendations for provisioning
• Reporting: Prepare monthly reports on payment collections and outstanding AR balances, highlighting trends, issues, and resolution strategies
• Daily/Monthly Reporting: Compile and submit daily and monthly AR reports, ensuring accurate financial data and up-to-date status on receivables
• Account Reconciliation Expertise: Perform regular account reconciliations to ensure the integrity of financial records and timely resolution of discrepancies

Qualifications

• Master’s degree in accounting, business management, or a similar field
• 7-10 years of experience in the collection
• Proven track record in collections, with hands-on experience in managing outstanding receivables and maintaining customer relationships
• Strong verbal and written communication skills, with the ability to effectively interact with clients and internal teams
• Sound understanding of accounting procedures, invoicing, and financial reporting