Collection Specialist

Job Description

Job Description

Department: Accounting

Reports To: Controller

Employment Type: Full-time

Work Location: Onsite – Farmington Hills, Michigan

We are seeking a detail-oriented and proactive Collection Specialist to manage customer accounts receivable activities and support timely payment collection. This role is responsible for reviewing customer credit status, monitoring payment terms, invoicing customers, following up on outstanding balances, and working collaboratively with clients and internal teams to resolve payment issues.

The ideal candidate will have strong communication skills, sound judgment, and the ability to build professional relationships while maintaining consistent collection efforts.

Key Responsibilities

• Review customer credit profiles and monitor account risk exposure.
• Maintain and enforce customer payment terms and credit limits.
• Generate and distribute customer invoices accurately and on time.
• Maintain correct customer contact information.
• Monitor accounts receivable aging reports and identify overdue accounts.
• Contact customers regarding outstanding invoices and follow up on payment status.
• Work with customers to establish practical payment plans when necessary.
• Collaborate with Sales and Account Management teams to resolve billing disputes and collection issues.
• Coordinate with clients to ensure timely payment processing and resolution of account discrepancies.
• Document collection activities, customer communications, and payment commitments.
• Escalate high-risk or delinquent accounts as appropriate.
• Support month-end closing activities related to accounts receivable.
• Maintain professional customer relationships while ensuring company cash flow objectives are achieved.

Qualifications

• Associate’s or Bachelor’s degree in Accounting, Finance, Business Administration, or related field preferred.
• 2+ years of collections, accounts receivable, credit, or related experience.
• Strong understanding of invoicing, payment terms, and collections processes.
• Experience working with ERP or accounting systems.
• Excellent communication, negotiation, and problem-solving skills.
• Strong attention to detail and organizational skills.
• Ability to manage multiple accounts and priorities effectively.
• Proficiency in Microsoft Excel and Microsoft Office applications.

Preferred Skills

• Experience in B2B collections.
• Ability to analyze customer payment trends and credit risk.
• Customer service-oriented mindset with professional follow-up skills.
• Experience coordinating with cross-functional teams including Sales and Finance.

Key Competencies

• Communication and relationship management
• Negotiation and conflict resolution
• Accountability and follow-through
• Analytical thinking
• Time management and organization

Work Environment

• Fast-paced business environment with regular interaction with customers, sales teams, and finance personnel.
• Ability to work independently while collaborating across departments.

About LSPedia

Welcome to LSPedia, a global software (SaaS) leader at the forefront of traceability, compliance, and supply chain solutions, dedicated to empowering the pharmaceutical, healthcare, and food industries. As a distinguished Top 50 Michigan Company and recognized on INC's list of the fastest-growing companies in America, LSPedia stands as a beacon of innovation and excellence.

Our cutting-edge software solutions have earned the trust of major players in the pharmaceutical and healthcare sectors, including esteemed organizations such as the U.S. Department of Veterans Affairs, Cencora, Cardinal Health, Leading Pharma, Tris Pharma, Amazon, Ascension Health, and thousands more. We take pride in our commitment to delivering unparalleled traceability and compliance solutions that redefine industry standards.

At LSPedia, we are fueled by a passion for innovation and a commitment to excellence. Join our rockstar team as we continue to expand and shape the future of traceability and supply chain solutions. We are actively seeking individuals who share our vision and enthusiasm to contribute to the ongoing success of our dynamic and growing company. Together, we are driving the evolution of industries and shaping a more connected, compliant, and efficient future.