Billing & Collections Specialist
For more than 25 years, Veristat has built a reputation as a thoughtful partner in the clinical development and regulatory submission process. We have done so by hiring talented people who align to our core values and share a common passion for our mission driven work.
Do you value a collaborative work environment and the opportunity to truly make a difference? If so, you will feel right at home here. At Veristat, you can grow both personally and professionally, with opportunities to discuss your achievements and advance your career through quarterly feedback conversations and meaningful work.
We do things differently than large CROs and would love to have you join our Veristat team!
The Billing & Collections Specialist generates project invoice transactions and oversees assigned Accounts Receivable (A/R) Collections, ensuring the integrity and accuracy of A/R transactions. This position interacts closely with the company’s Proposals & Contracts and Project Management teams, and has high visibility across the organization, driving company operations for billing and collections.
Primary Duties + Responsibility:
- Independently lead the Collections function to ensure prompt and orderly collection of billed transactions; regularly engage within the Company (Finance, Project Managers, Business Development, etc.) and with external customers to elevate A/R Collections to an optimal level
- Tactfully & extensively communicate (phone and email) to critical and sizeable clients seeking payment on funds owed for work completed
- Prepare and issue monthly invoices for all billable projects and costs, including hourly, unit, and pass-through; guarantee timely and accurate tracking of customer contracts, change orders, and service invoices; meet departmental billing deadlines; prepare monthly client financial summaries and estimates, and report KPI type data on A/R, cash collections, and days sales outstanding (DSO) to the Senior Leadership Team within the Company, including the CEO and CFO
- Manage the processing of cash receipts daily; monitor client accounts regularly and identify and pursue delinquent accounts
- Effectively communicate with Project Managers, Business Development, and Proposals & Contracts regarding contract documents, change orders, and other contract modifications, approvals, and any additional services related to billing activities to drive collections
- Research, review, obtain approval (as needed), and process credit memo requests, and support Project Management with customer billing inquiries; research unpaid or disputed amounts and engage Proposals & Contracts, Project Management, and Finance departments to lead resolution and correction of customer issues and billing errors
- Assess and pursue opportunities for maximization of client billing; communicate with Finance leadership as to observations and actions taken
- Advise Accounts Payable on client billing, relative to consultant invoicing and reimbursable expenses
- Provide year-end support of auditor requirements, which may include research and reconciliation; perform additional assignments, as directed by Finance leadership
Experience & Minimum Requirements:
- Bachelor’s Degree required, related field (i.e., Accounting or Business) preferred
- 3 years of billing and collections experience required; experience in a contract-based organization strongly preferred
- Ability to work in a fast-paced, team environment and meet monthly finance and company reporting deadlines required
- Ability to use sound judgment, due care, and act autonomously in performing the duties of billing and collections
- Must possess a tenacious attitude around the work of A/R Collections in handling clients with due care and professionalism, and ensuring payments are received according to terms
- Knowledge of project structure in a client/consultant business environment required
- Thorough knowledge of standard contract terms, including hourly, milestone, not-to-exceed and how they are applied in the billing process; strong understanding of contract billing required
- Strong accounting foundation required; revenue recognition experience is a plus
- Proficient to Expert skills in Microsoft Office Excel, Outlook, PowerPoint, etc., and experience using enterprise-level accounting software required
- Knowledge of project management and resourcing programs preferred
- Ability to navigate internal and external organizational obstacles and engage with all employee levels to solve problems required
- Ability to prepare and present weekly results in AR and Billing KPIs and results to Company Executives required
- Driving/Travel requirements – Travel up to 0% - 10% (US, Canada, or International)
- Physical requirements – ability to occasionally lift/move up to 25 lbs.
- Hours/Conditions – US: 40 hour work week; Canada & UK: 37.5 hour work week;
- FLSA Classification – Exempt