Job Title
Sr. Deductions Specialist

Job Description

Effective Tuesday, January 4, 2022, all U.S.-based employees are required to be fully vaccinated against COVID as a condition of employment at Philips. Employees with a sincerely held religious belief and/or disability impacting their ability to obtain the COVID vaccine can request a reasonable accommodation.

If you are a Colorado resident and this role is a field-based or remote role, you may be eligible to receive additional information about the compensation and benefits for this role, which we will provide upon request. You may contact 888-367-7223, option 5, for assistance.

Philips is a global leader in health technology, committed to improving billions of lives worldwide and striving to make the world healthier and more sustainable through innovation. Driven by the vision of a better tomorrow.

But it's not just what we do, it's who we are. We are 80,000, wonderfully unique individuals, with two things in common: An unwavering sense of purpose and a relentless determination to deliver on our customers' needs. It's what inspires us to create meaningful solutions - the kind that make a real difference - when it matters most.

The world and our customers' needs are changing faster than ever before and while we are proud of what we do already, we know we can do more. That's why we need you, to help us tackle increasingly complex challenges posed by ever evolving health and well-being needs.

In this role, you have the opportunity to take an active role in our team of Senior Deductions Specialists who are responsible for reviewing and identifying large client-high volume deductions, resolving where applicable, or partnering with our internal teams where needed, at Philips' Healthcare North American by maintaining excellent relationships with our customers, internal finance leadership, and cross-functional business partners. In this role, you would be part of the Global Business Services team, reporting to a Senior Collections Manager within Philips Finance Organization (FinOps).

You are responsible for (but not limited to)

• Accountable for reviewing any deductions or short paid invoices, identifying root cause, and collaborating with the internal department(s) to expedite dispute resolution
• Partner with clients and identify ways to better align Philip's processes with the client's processes to reduce future deductions, and create efficiencies overall
• Contact clients with past due balances, due to rejected deductions in the portfolio to obtain payment, payment commitment, and follow up on payment promises
• Assist the cash applications department with resolving payment application discrepancies ensuring adjustments are completed in a timely fashion
• Meet or exceeds targeted collections metrics, reducing past dues, bad debt reserve exposure, and other quantitative targets
• Support and develop accounts receivable lean process improvements

To succeed in this role, you should have the following skills and experience

• Bachelor's degree in Finance, Accounting, Business Administration, or other related field preferred
• 3+ years of related experience in the sphere, preferably in a shared service environment
• Experience with "Big Box Retail" deductions required
• Basic knowledge of accounting principles preferred
• Experience within the healthcare or medical manufacturing industry is beneficial
• SAP or Oracle accounting application experience preferred
• Knowledge or experience working with Excel specifically (Vlook up and pivot tables) and Outlook 2016 required
• Able to work independently; proactive and able to take the lead when needed.

How we work at Philips

Our newly adopted hybrid work concept fuses flexibility withcollaboration to deliver great outcomes for our people andour customers.We areembracing an approach wherein wespend more time together than apart - which for full-timeemployees translates to an average of at least 3 daysworking from the office and up to 2 days from home - forour hybrid roles.

Hybrid work flexibility means people can meet the changingdemands of work and home in the most balanced,productive, and healthy way.

Our hybrid working model is defined in 3 ways:

We believe in the importance ofimpactful collaboration:There's a certain energy when everyone's in the same roomthat can heighten idea generation and creative frictionneeded for problem-solving.

Weembrace flexibility:Choosing where, when, and how towork can vary according to task and team schedules.Flexibilityisn'toffice or online, it means choosing the spacethat works best for you, your teams, and our customers on acase-by-case basis.

We want tobe at our best:The way wework,and ourworkspaces are designed to support our well-being, offercareer advancement opportunities, and enable us to be atour best.

In return, we offer you

• A career with a world-class brand committed to improving people's lives through innovation
• Global multi-functional opportunities to advance your career
• Certification and training towards best in class skill development and specialization
• Strong leadership and mentorship from a group of seasoned professionals
• The chance to be a part of a new group that is powering excellence at Philips
• We are offering an opportunity to be part of a team of professional individuals that work in a growth and development culture.

Why should you join Philips Global Business Services?

Working at Philips is more than a job. It is a calling to make life better for people through your meaningful work, focused on positively impacting 3 billion lives a year by 2030. You will be challenged every day to think fast and work innovatively by building knowledge and sharing best practices to help our business to grow.

To find out more about what it's like working for Philips at a personal level, visit the Working at Philips page on our career website, where you can read stories from our employee blog. Once there, you can also learn about our recruitment process, or find answers to some of the frequently asked questions.

It is the policy of Philips to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status or a person's relationship or association with a protected veteran, including spouses and other family members, marital or domestic partner status, or any other category protected by federal, state and/or local laws.

As an equal opportunity employer, Philips is committed to a diverse workforce. In order to ensure reasonable accommodation for individuals protected by Section 503 of the Rehabilitation Act of 1973, the Vietnam Veterans' Readjustment Act of 1974, and Title I of the Americans with Disabilities Act of 1990, applicants that require accommodation in the job application process may contact 888-367-7223, option 5, for assistance.

Equal Employment and Opportunity Employer/Disabled/Veteran

#LI-PH1

It is the policy of Philips to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status or a person's relationship or association with a protected veteran, including spouses and other family members, marital or domestic partner status, or any other category protected by federal, state and/or local laws.

As an equal opportunity employer, Philips is committed to a diverse workforce. In order to ensure reasonable accommodation for individuals protected by Section 503 of the Rehabilitation Act of 1973, the Vietnam Veterans' Readjustment Act of 1974, and Title I of the Americans with Disabilities Act of 1990, applicants that require accommodation in the job application process may contact 888-367-7223, option 5, for assistance.
Equal Opportunity Employer/Disabled/Veteran