Executive - Cash Application and Credit Management

Company Description

• NEC Software Solutions (India) Private Limited!  is based in Mumbai (Worli & Airoli) and
• Bangalore with an employee strength of 1300+. It is one of the foremost providers of end-
• to-end IT services across various sectors. We work with diverse industry verticals which
• include publishing, media, financial services, retail, healthcare and technology companies
• around the world. Our customers range from two-person startups to $bn listed companies.

We have more than 30 years of experience in providing end to end IT services across the
globe and have earned a reputation for delighting our customers by consistently surpassing
expectations and helping them deliver robust, market-ready software products that meet
the highest standards of engineering and user experience. Supported by more than 1300
exceptionally talented manpower, we are a hub for offshore support and technology
services.

Job Description

Requisites

Education:

Postgraduate (B. Com/Honors) or a bachelor’s degree with relevant experience in OTC Operations. 

Experience (Years):

1. Executive - Graduate with 2 to 4 years of experience 
2. Sr Executive – Graduate with 4 to 6 years of experience 

Relevant Experience:

OTC or Accounts Receivable (Cash Application) 

Location:

Mumbai (Airoli) and Bangalore 

Working Hours:

8.5 hours/day (US Shift) 

Role Summary:

1. Responsible for applying incoming customer payments to the correct invoices using ERP systems, ensuring financial records are up-to-date and reducing unapplied cash. 
2. Manages discrepancies such as short payments, unidentified funds, and remittance mismatches, while reconciling customer accounts and supporting audit and compliance requirements. 

Qualification Criteria/Work Experience

Essential:

• Strong knowledge of Cash applications 
• Working knowledge of SAP Finance module  
• Experience in shared services/customer facing environment 
• Understanding of standard operating procedures 
• Knowledge of system, applications, operating tools, metrics and excel 
• Good communication skills, plus good verbal & written presentation skills 
• Good understanding of AR Cycle and credit Management process 
• Flexibility to work within a high growth, rapidly changing environment 
• Ability to self-motivate and initiate change 
• Ability to work with colleagues at all levels .

Cash Application Responsibilities

• Accurately apply customer payments to invoices using ERP system. 
• Retrieve and interpret remittance information from various sources (email, portals, bank files) 
• Investigate and resolve unapplied or unidentified payments 
• Analyze short payments and coordinate with collections or customer service for resolution 
• Reconcile bank statements with customer accounts to ensure accuracy 
• Update customer records with payment details, adjustments, and corrections 
• Generate daily/weekly/monthly reports on cash application performance and exceptions. 
• Ensure adherence to internal controls and audit requirements. 
• Support automation initiatives and suggest improvements to enhance efficiency 
• Investigate discrepancies and escalate unresolved issues to management or relevant departments. 
• Apply payments received in different currencies accurately 
• Ensure all payments are posted before closing deadlines and Support finance teams with reconciliations and reporting. 
• Provide documentation and data for internal and external audits. 
• Track and report on service level agreements and performance indicators 
• Drive improvements based on trends and gaps 
• Evaluate the creditworthiness of new and existing customers. 
• Analyze financial statements, credit scores, payment history, and market conditions. 
• Set appropriate credit limits and terms to minimize risk. 
• Continuously monitor customer accounts for overdue payments or changes in financial health. 
• Adjust credit limits or terms based on performance and risk. 
• Analyzing the credit limit of the customer based on the financial statements  
• Good Understanding about the dunning process for customer for different levels 

Key Skills

• Cash Application and Credit management 
• Accounts Receivable Ledger Management 
• Financial Accounting and Reporting 
• Advanced Excel and Spreadsheet Skills 
• SAP ERP and Accounting Software Proficiency 

• Team Player

Qualifications

Any Graduate

Additional Information

Na