Accounts Receivable Factoring is a process by which a small business sells its invoices at a discounted rate to a financing company. The business gets the cash required for the smooth flow of the business. It then becomes the responsibility of the financing company to collect the payments. Also, the company collects the payment at the face value of the invoices. Collecting cash is no easy task, and the company needs to provide services such as customer care, maintaining records and collecting payables. Therefore, the Job profiles of people working in these companies vary.
First of all, these companies offer positions for Account Receivable billing analysts. Suitable candidates for these posts need to have a strong background in Accounts Receivable and billing. Experience in relevant industries can make a lot of difference. For example, if a company provides Accounts Receivable management services to a telecom industry then a candidate with relevant experience in telecom set-ups will get preference. Also, most companies prefer the Account Receivable Billing Analysts to have experience with SAP, as also with exposure to network services billing.
Then again, there are Account Receivable positions that require the candidate to enter and post invoices, handle adjustments, and refund statements. There are openings for customer care personnel who attend to customer queries. The candidates are required to be computer literate, with excellent communication skills. This is important because maintaining cordial relationships with the customers is extremely necessary.
Another Job profile with Account Factoring companies is that of an Accounts Receivable cash posting person. The candidate is required to timely and accurately post checks to the customers. Again, there are positions for Accounts Receivable coordinators who are required to handle all cash receipts involved with the receivable department. The candidates are also required to research and resolve any customer deduction discrepancies.