Contract Billing Specialist

Prime System Solutions

Lahore, Punjab
Permanent
Full-time

1 month ago
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Summary:The Contract Billing Specialist is responsible for accurately preparing and processing invoices for clients based on contractual agreements. This role involves ensuring timely billing, resolving billing discrepancies, maintaining billing records and agreements, and providing support to internal and external clients. The Contract Billing Specialist plays a critical role in ensuring accurate and efficient billing processes.In order to ensure an exceptional result, you will need to have a clear understanding of the challenges and opportunities our clients face and how our teams as a whole combine to deliver our promise. Providing services in a proactive, professional manner while ensuring key parties are kept informed is critical. We are a data driven company and analysis for decision making and overall strategy is ongoing.Culture is an integral part of working at Prime. Our company DNA represent the most important values, the ones we live by:Serve as One“Serve as One” is the belief that together we are greater than the sum of our individuals, and that teamwork is essential to success.Passionately Curious“Passionately Curious” is about challenging the status quo, continual improvement, and constantly learning.Own It“Own IT” is about having the courage to do what’s right, resolve to take responsibility, and grit to cross the finish line.Go Beyond“Go Beyond” is taking that extra step to create moments that are unexpected but appreciated.Our Just Cause - “Developing Growth-Minded People” - is about creating excitement and opportunity for those we work with to nurture their growth-mindset.Responsibilities:Reviewing contracts: Review contractual agreements to understand the billing terms, payment schedules, and invoicing requirements.Creating and sending invoices: Create and send invoices to customers according to the billing terms outlined in the contractual agreements. Ensure that the invoices are accurate, timely, and comply with accounting standards and regulations. These invoices may also expand to ancillary charges that are outside the scope of the signed contract. (i.e., work done on a T&M basis or Hardware/Software resales)Managing billing schedules: Manage billing schedules for contractual agreements, ensuring that invoices are sent on time and that payments are received according to the payment schedules outlined in the contracts.Resolving billing discrepancies: Resolve billing discrepancies or disputes with customers, working with internal teams and external stakeholders to resolve issues and ensure that payments are received on time. Note: this does not include researching and answering invoicing questions about particulars on an invoicing item.Updating billing records: Maintain accurate billing records for contractual agreements, including invoices, payments received, and any changes to the billing terms or schedules.Supporting financial reporting: Assist in financial reporting activities, including preparing reports and analyses related to contractual billing and revenue recognition.Additional ResponsibilitiesMaintain accurate and real time timesheets,Receive mentoring and feedback from peers and others.Where appropriate, escalate complicated issues to a more senior resource or other appropriate teams.Actively Participate in Team Huddles, L10 Meetings, One on One Meetings, and any other Team MeetingsAttend training & team meetings as required.Ensure work aligns with company standards.Assist team members as required.Maintain constant and clear communication with clients and colleagues.Collaborate with all departments to maximize client satisfaction.Continuously provide feedback to help improve processes and procedures to provide superior service.Provide or facilitate timely responses and guidance to client requests.Maintain documentation, processes, and standards through the change management processes.Maintain an in-depth knowledge of the products and services that are offered.Performance Deliverables:
Each employee’s performance is tracked through both leading and lagging key performance metrics:Billing Accuracy: Measures the percentage of invoices that are error-free and accurately reflect the terms of the contract.Timeliness of Invoicing: Track how quickly invoices are generated and sent to clients after the completion of services or delivery of goods.Customer Satisfaction: Assesses client satisfaction with the billing process, such as clarity of invoices, responsiveness to inquiries, and overall customer service.Billing Cycle Time: Measures the time it takes to complete the entire billing cycle, from gathering necessary information to generating invoices and sending them to clients.Billing Adjustments: Tracks the number of billing adjustments made due to errors or changes in contract terms.Billing Productivity: Measures the number of invoices processed or generated by a billing employee within a specific timeframe.Education Requirements, Skills, and KnowledgeAttention to Detail: Contract billing involves handling various details, such as contract terms, pricing, and payment schedules.Numerical Aptitude: Strong numerical skills are essential for performing calculations, reconciling accounts, and managing financial data accurately. Proficiency in basic math and familiarity with accounting principles is beneficial.Analytical Thinking: Need to analyze and interpret complex contractual terms and conditions, ensuring that billing accurately reflects the agreed-upon terms.Knowledge of Billing Systems: Proficiency in using billing software and systems is important for efficiently generating invoices, tracking payments, and managing customer accounts. Familiarity with popular accounting software and billing platforms is advantageous.Communication Skills: Effective communication is essential when interacting with clients, internal teams, and stakeholders.Organization and Time Management:. Strong organizational skills and the ability to prioritize tasks help in managing workload effectively and meeting deadlines.Problem-Solving: Should be skilled in problem-solving, using critical thinking to identify root causes, propose solutions, and prevent future issues.Knowledge of Contract Terms: Familiarity with contract terminology, billing terms, and pricing structures is important for accurate invoicing.Customer Service: Strong customer service skills, including empathy, professionalism, and effective communication, contribute to positive client experiences and satisfaction.

Prime System Solutions