Cash Application Team Lead

Location: Chennai

Market:  PH Global

Shift: Should be flexible

Mandatory -Minimum 2 years in people management

Language: Fluent English both written and spoken

About the Job:

As Cash Application Team Lead, you will join Philips’ Accounting Operations team. You will be in charge of managing our new centralized Cash Applications team for NAM market by providing strategic direction, overseeing operations, enhancing team development, ensuring policy adherence, preparing performance reports, and guiding team growth. Your challenge will be driving improvements in cash application process automation.

Your role:

• Manage a team of Cash Application by providing strategic direction, overseeing daily operations, fostering team development to achieve optimal outcomes

• Provides direction to employees by aligning their activities with established policies and management guidance, ensuring consistent application of procedures and standards to achieve organizational objectives and maintain operational efficiency

• Tracks the performance of cash application process, ensuring all activities are completed accurately and on time, identifying areas for improvement and implement changes to enhance efficiency and accuracy

• Conducts analysis and regular reviews with local teams to pinpoint processes leading to manual activities and identifies solutions that eliminate waste

• Closely cooperate with respective Collections and Deduction Management teams in the NAM Market

• Collaborate with functional peer groups to ensure effective communication and coordination, facilitating cooperation and knowledge sharing across teams to achieve common goals

• Support MEC queries, resolve issues and handle escalations

• Support team in daily operations

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

• Perform/Support reconciliations against monthly bank statements – identifying and resolving reconciliation items on customer accounts

• Prepares detailed reports for senior management on cash application performance, highlighting key metrics, trends, and issues, to inform decision-making and ensure alignment with organizational goals

• Support Internal Audit, Statutory Group Audit and Local audits including, process walkthrough, test of controls, documentation, coordination

• Guides and mentors the team, actively contributing to employee selection, performance management, compensation management, career development, and overseeing operational processes

• Drive improvements in cash application process automation

• Collaborate well with all the business stakeholders for smooth flow of business and migrations

• End to end responsible for migration insourced activities

You're the right fit if:

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

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

• Minimum 2 years in people management

• 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 (preferably 2 PM to 11 PM and 12 Noon to 9 PM)

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.

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