Job Description
LightspeedDMS LLC is currently seeking a dedicated and detail-oriented Collection Specialist to join our finance team. This role is essential for maintaining the financial health of our company by actively managing outstanding invoices and ensuring timely payments from our customers. The ideal candidate will possess excellent communication skills, a strong understanding of billing processes, and the ability to negotiate effectively. This role is an exciting opportunity for someone to advance their career within a high-growth PE owned SaaS company.
Duties & Responsibilities:
- Monitor and manage outstanding accounts receivable, including invoicing and issuing payment reminders.
- Contact customers via phone, email, or mail to follow up on overdue payments.
- Negotiate payment plans with delinquent accounts while maintaining positive client relations.
- Accurately apply incoming payments and reconcile daily cash receipts to bank deposits and the accounts receivable ledger.
- Investigate and resolve discrepancies between bank deposits and cash.
- Reconcile accounts receivable ledger.
- Resolve billing and customer credit issues, collaborating with customer service and sales teams as necessary.
- Generate age analysis reports and provide regular updates on AR status to management.
- Assist with month-end closing procedures related to accounts receivable.
- Maintain accurate records and files of all collection and AR activities.
- Ensure compliance with company policies and legal regulations regarding collections.
Job Qualifications:
- High school diploma required, associate or bachelor’s degree in finance, Accounting, or related field preferred.
- 2+ years of experience in accounts receivable, collections, or a related financial role.
- Strong understanding of billing and collections processes.
- Excellent communication and negotiation skills, with the ability to interact effectively with customers and internal teams.
- Proficiency in accounting software and MS Office, particularly Excel.
- High level of accuracy, efficiency, and accountability.
- Ability to handle multiple tasks and meet tight deadlines in a fast-paced environment.
- Knowledge of legal requirements and procedures related to collections (a plus).