Cash Application Expert

Location: Chennai

Market:  APAC, ISC

Shift: Should be flexible

Mandatory Language: Fluent English both written and spoken

About the Job:

As Cash Application Expert, you will join Philips’ Accounting Operations team. On daily basis you will have a chance to take an active role in helping to form our new centralized cash applications team, and the accounting and reconciliation activities that relate. Your challenge will be driving improvements in cash application process automation. This work all supports our existing team of Collections Specialists who are responsible for cash collections with a defined group of major/key customer accounts, at Philips NAM, APAC, ISC and ME&A regions by maintaining excellent relationships with our customers, internal finance leadership, and cross-functional business partners

Your role:

• Drive improvements in cash application process automation

• Close cooperation with Cash Application, Collections Team and Business Process Experts

• Execution of the implementation of the new solutions to improve efficiency and auto hit rate

• Manage the Unapplied Cash report and work with Collections to identify solutions to unreconciled cash items

• Daily and monthly reconciliations against monthly bank statements – identifying and resolving reconciliation items on customer accounts

• Directs lower grade associates with completing assignments by adhering to established guidelines, procedures, and policies, ensuring that tasks are performed accurately and efficiently while maintaining compliance with organizational standards

• Be a trainer for grooming the new joiners in Cash Application team

• Oversee the implementation of accounts receivable lean process improvements, ensuring high master data quality to enhance operational efficiency, reduce waste, and maintain reliable data for effective financial management and reporting

• Generate periodic performance reports to track KPIs and assist leadership in decision-making

• Providing indirect leadership to cash applications, internal finance leadership and cross-functional business partners related to cash management best practices

You're the right fit if:

• Bachelor’s degree or equivalent or vocational Education in finance, accounting, business administration, economics

• Minimum 5 years to 10 Years of experience in Cash Application high volume environment; experience in Accounts Receivable Management and/or Collections and/or Treasury is considered a plus

• Experience in SAP system is a must, knowledge of Autobank is considered a plus

• Analytical skills, proficient in MS Excel

• Fluent English - both written and spoken

• Excellent communication skills

• Customer service focus

• Determination to achieve excellent results

• Possibility of shift work

How we work together
We believe that we are better together than apart. For our office-based teams, this means working in-person at least 3 days per week.
Onsite roles require full-time presence in the company’s facilities.
Field roles are most effectively done outside of the company’s main facilities, generally at the customers’ or suppliers’ locations.
Indicate if this role is an office/field/onsite role.

About Philips
We are a health technology company. We built our entire company around the belief that every human matters, and we won't stop until everybody everywhere has access to the quality healthcare that we all deserve. Do the work of your life to help the lives of others.
• Learn more about our business.
• Discover our rich and exciting history.
• Learn more about our purpose.
If you’re interested in this role and have many, but not all, of the experiences needed, we encourage you to apply. You may still be the right candidate for this or other opportunities at Philips. Learn more about our commitment to diversity and inclusion here.

#LI-PHILIN