Order to Cash Specialist

The Order to Cash Specialist plays a pivotal role in ensuring smooth and efficient order processing, accurate billing, and timely collection of revenue, contributing directly to the financial health and customer satisfaction of the organization.

Job Overview:

The Order to Cash (O2C) Specialist is responsible for managing and overseeing the entire order processing and revenue collection cycle within an organization. This role involves coordinating with various departments, ensuring accuracy in order fulfillment, and optimizing cash flow through efficient billing and collection processes.

Key Responsibilities:

1. Order Processing:
   • Receive and review customer orders for accuracy and completeness.
   • Collaborate with sales, inventory, and production teams to confirm product availability and delivery timelines.
   • Ensure all necessary documentation is complete and compliant with company policies.
2. Invoicing and Billing:
   • Generate and send accurate and timely invoices to customers based on order and contract terms.
   • Verify billing information, pricing, and discounts to ensure consistency and accuracy.
   • Address and resolve any billing discrepancies or issues.
3. Cash Application:
   • Apply customer payments to the appropriate accounts in a timely and accurate manner.
   • Reconcile payments received with outstanding invoices and resolve discrepancies.
   • Collaborate with the finance team to manage cash flow effectively.
4. Credit Management:
   • Evaluate and establish credit limits for customers based on creditworthiness.
   • Monitor customer accounts for overdue payments and implement collection strategies as needed.
   • Collaborate with the credit department to resolve credit-related issues.
5. Customer Communication:
   • Serve as a point of contact for customer inquiries related to orders, invoices, and payments.
   • Provide excellent customer service by addressing and resolving issues promptly and professionally.
6. Documentation and Compliance:
   • Maintain organized and accurate records of customer transactions, invoices, and payments.
   • Ensure compliance with company policies, industry regulations, and accounting standards.
7. Process Improvement:
   • Identify opportunities to streamline and enhance the efficiency of the order to cash process.
   • Collaborate with cross-functional teams to implement improvements and best practices.
8. Reporting:
   • Generate regular reports on key order to cash metrics, such as DSO (Days Sales Outstanding) and cash application accuracy.
   • Provide insights and recommendations for improving cash flow and reducing receivables.

Qualifications:

• Bachelor’s degree in business, finance, accounting, or a related field is preferred.
• Proven experience in order to cash, accounts receivable, or a related role.
• Proficiency in using Microsoft Office applications, with heavy usage of Excel.
• Proficiency in using accounting software, especially with NetSuite.
• Familiarity with accounting principles and billing systems.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Detail-oriented with a focus on accuracy in data entry.
• Ability to work collaboratively in a fast-paced environment.