Job description for Deduction Analyst
The AR Collections and Deduction Analyst position is responsible for resolving deductions and reconciling the accounts timely.
Tasks, Duties, & General Responsibilities:
- Contact customers to exert every possible effort to secure payment on invalid deductions.
- Research and resolve customer deductions; coordinate with business partners to resolve contested items, recommend appropriate action for item handling. Either issue credit or contact customer to collect unauthorized deductions. (Off invoice and short payments)
- Review all deductions taken from customer payments, review remittance information to determine the reason for deduction.
- Review all documents supporting the customer claims, including purchase order copies, proof of delivery and invoices.
- Dispute all claims including shortages, pricing deductions, and violations; disputes are completed via web portal or via email.
- Retrieve data from customer web portals.
- Contact customers via emails/Calls to resolve pending deductions.
- Document all actions taken in ERP system so last action taken is readily available.
- Identify and implement areas for process improvement with will reduce customer deductions.
- Escalate issues to the supervisor/manager that require intervention/clarification from senior leadership.
- Research/Resolve customer short ship deduction (Returns, shortages, overages, etc.).
- Maintain aging reports and perform activities to resolve open receivables.
- Perform month end close activities and meet accounting close deadlines.
- Create and analyze weekly reports for internal and audit review.
- Identify root causes of problems affecting payment of invoices, by analyzing relevant information and clearly communicating and collaborating internally and with customers to resolve root cause issues to prevent a reoccurring.
- Identify and resolve billing discrepancies (off invoice and short payments)
- Identify, report, and present trends in a customer’s deductions.
Qualifications
- Experience in Collections and Deductions. At least 5-7 plus years in similar profile.
- Master's preferred but not mandatory. Must have bachelor's degree in commerce/accounting/Finance.
- Working knowledge of SAP, a must
- FSCM Software application experience a plus.
- Extremely organized, detailed, and proactive.
- Analytical, tenacious, and great at research, follow-through & follow-up.
- Proficient in Excel (V-Lookups, Tables, Formulas and Pivot Tables) and other Office tools.
- Domain Knowledge: Collections, deduction management, disputes settlement.
- Excellent oral and written communication skills are required, the ability to interact and collaborate with internal and external customers at all levels of management and staff globally.
- Knowledge of all Microsoft Office Products specifically Outlook, Excel, PowerPoint, and Word.
- Must be assertive to follow up on resolving issues.
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Top Skills
What We Do
Solenis is a leading global producer of specialty chemicals focused on delivering sustainable solutions for water-intensive industries, including consumer, industrial, institutional, food and beverage, and pool and spa water markets. Owned by Platinum Equity, the company’s product portfolio includes a broad array of water treatment chemistries, process aids, functional additives, and cleaners and disinfectants, as well as state-of-the-art monitoring and control systems. These technologies are used by customers to improve operational efficiencies, enhance product quality, protect plant assets, minimize environmental impact, and create cleaner and safer environments. Headquartered in Wilmington, Delaware, the company has 69 manufacturing facilities strategically located around the globe and employs a team of over 16,100 professionals in 130 countries across six continents.
Solenis is a 2024 Best Managed Company Gold Standard honoree, recognized four years in a row.
For additional information about Solenis, please visit www.solenis.com or follow us on social media
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