Cash Application Specialist

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Job Type

Full-time

Description

Concentric is the first national industrial power services organization delivering forklift and critical power as well as maintenance solutions that ensure uninterrupted, sustainable facility power. The company's signature solutions, Guaranteed POWER and Perpetual POWER are industry firsts, improving reliability, sustainability, and safety to solve the power problem for facility leaders. Concentric helps data centers, distributors, manufacturers, utilities, communications infrastructure and more develop resilience in their power systems while making the energy transition with less risk. With a national network of service professionals, Concentric provides engineering, installation and maintenance/management for power equipment including backup batteries, UPSs, generators, energy storage, micro grids, forklift power, onsite maintenance and more. Learn more at concentricusa.com.

Benefits

At Concentric we believe that Our People are what make us great and help us deliver exceptional customer service! We offer industry leading Benefits to include:

• Competitive pay

• Plus incentive opportunities and overtime potential!

• Full benefits package that starts day one

• Includes medical, dental, vision, company-paid life insurance and disability coverage.

• 401K with match

• 8 paid holidays

• Full-time Employees receive 128 Hours of PTO Annually

• Training and mentoring

• Learn from our experts in the industry.

• Advancement opportunities.

The benefits listed are subject to change at any time. Please speak with an HR Representative for details. In the case of conflict between the information listed and the official plan documents, the plan documents will always govern.

Job Summary

The Cash Application Specialist, you will play a vital role in our treasury department by accurately and efficiently applying incoming payments to customer accounts. You will be responsible for processing and reconciling payments received via various channels, such as checks, electronic transfers, and credit card transactions. Additionally, you will collaborate closely with other departments to resolve any discrepancies and ensure the accuracy of our financial records.

The Cash Application Specialist reports to the Treasury Manager and will have no direct reports.

Key Job Responsibilities:

• Receive, review, and post incoming payments accurately and in a timely manner.

• Reconcile payments with invoices and resolve any discrepancies.

• Research and resolve unapplied payments.

• Research misapplied payments and resolve correctly.

• Utilize Microsoft Excel to organize and analyze payment data, proficiency in Excel is required, including v-lookups & pivot tables.

• Utilize Banking Lockbox application to review and match remittance details to AR aging.

• Reconcile Primary Lockbox bank account daily and monthly against book balance.

• Work closely with the accounts receivable team to identify and address payment issues.

• Respond to inquiries from internal team regarding status of Payments and application of credits.

• Assist in the development and implementation of process improvements to enhance efficiency and accuracy.

• Generate reports and provide analysis related to cash application activities.

• Other duties as assigned by supervisor.

Key Performance Measurements:

• A score card that reflects performance in areas such as Collection Effectiveness Index, Accounts Receivable Turnover, Credit Risk Assessment, Cash Receipt Trending, and Cash Application Accuracy, Bank Reconcile Accuracy.

• Utilize Analytical Skills to drive data insights to optimize credit risk management, collection efforts and cash flow.

• Identify areas for improvement: Analyze trends and compare benchmarks to pinpoint weaknesses in the A/R function.

• Management observation regarding attitude, diligence, team contributions, and willingness & ability to learn new skills and information.

• Other key metrics prescribed by Concentric Finance & Accounting leadership, resulting in positive customer and Company impact.

Requirements

• High School or GED Diploma required. Prefer an associate degree from an approved two-year college or university or very strong equivalent experience.

• Minimum of 3 years high volume cash application experience.

• Multi-division accounts receivable processing experience.

• Strong Excel skills; proficiency in Microsoft Office (Excel and Pivots).

• Strong communication, problem solving, and analytical skills.

• Ability to organize his/her own work and work independently, with limited supervision.

• Ability to work with individuals from diverse backgrounds and with diverse needs, and across remote offices.

• Ability to clearly articulate ideas (both written and verbal) to both internal and external customers and to listen effectively to customer needs.

• Ability to develop and maintain strong workplace relationships with an emphasis on customer satisfaction.

• Ability to work collaboratively with other departments toward the greater good of the organization.

• Ability to adapt to a fast-changing environment.

• Must have attention to detail with an eye for accuracy.

• Capable of identifying and completing critical tasks independently with a sense of urgency.

• This job description is subject to change at any time.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit or stand up to 8 hours; use hands to type, maneuver, handle, or feel; and talk or hear. The employee frequently is required to walk and reach with hands and arms. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision and ability to adjust focus.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The work is performed in an office, or home office environment. The noise level in the office work environment is quiet to moderate.

The Concentric Company considers applicants for all positions without regard to race, color, religion, creed, gender, national origin, age, disability, genetic information, marital or veteran status, or any other legally protected status.