Accounts Receivable Analyst at Abbott Laboratories

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 114,000 colleagues serve people in more than 160 countries.

Working at Abbott

At Abbott, you can do work that matters, grow, and learn, care for yourself and family, be your true self and live a full life. You’ll also have access to:

• Career development with an international company where you can grow the career you dream of

• Employees can qualify for free medical coverage in our Health Investment Plan (HIP) PPO medical plan in the next calendar year.

• An excellent retirement savings plan with high employer contribution

• Tuition reimbursement, the Freedom 2 Save student debt program and FreeU education benefit - an affordable and convenient path to getting a bachelor’s degree.

• A company recognized as a great place to work in dozens of countries around the world and named one of the most admired companies in the world by Fortune.

• A company that is recognized as one of the best big companies to work for as well as a best place to work for diversity, working mothers, female executives, and scientists.

The Opportunity

This position may work out of our Abbott Park, IL or Columbus, OH location in the IFO International Finance Division.

As the AR Analyst you will be responsible for interacting internally and externally to resolve outstanding issues relating to accounts receivable, inclusive of Credit, Collections, Invoicing, Cash Application, Dispute Resolution and Customer Order Release.

The AR Analyst is required to: (a) contact external customers on delinquent A/R balances; (b) monitor receivables daily; (c) resolve remittance exceptions; (d) review explanations for customer payment differences; (e) work with division sales and contract personnel and (f) verify AR reporting and provide commentary; (g) work with our Genpact collections team to assist in prioritizations, train, coach, and handle escalations. 

What You’ll Work On

1.  Perform accounts receivable functions within the defined process standards.

• Manage accounts receivable utilizing multiple systems

• Review and investigate customer receipt variances

• Communicate with internal and external parties regarding accounts receivable questions, error correction and discrepancy resolution

• Identify Root Cause for customer deductions, disputes, and variances

• Review monthly performance reports

• Provide internal and external audit support as required

• Maintain policies and procedures for the AR processes in accordance with GPM guidance

2.  Perform and coordinate the Accounts Receivable activities for shared services

• Assist the AR Lead and Supervisor in performing, facilitating, and reviewing day to day AR activity within the center

• Assure processing is performed within standards and allows for the achievement of targeted aging metrics

• Continuously improve process design focusing on simplification, standardization, quality improvement and cost minimization

• Contribute to process improvement reviews

• Evaluate best practices with global peers and develop improvement suggestions

3.  Assist the AR Lead and Supervisor in developing and reviewing performance results for accounts receivable processes in the region. 

• Provide assistance in the implementation of the global standard AR processes, to meet the needs of the shared services stakeholders.

Required Qualifications

• BA/BS required, Accounting or Finance majors preferred

• Ability to work in office – not a remote role

• 2-4 plus years of accounts receivable experience inclusive of all aspects of AR management

• Knowledge and understanding of overall Order-to-cash processes

• Strong ability to interact with internal and external parties at various levels

• Attention to detail with a propensity for continuous improvement

Preferred Qualifications

• SAP ERP experience a plus

• Strong Excel skills are preferred

* Participants who complete a short wellness assessment qualify for FREE coverage in our HIP PPO medical plan. Free coverage applies in the next calendar year.

Learn more about our health and wellness benefits, which provide the security to help you and your family live full lives:  www.abbottbenefits.com

Follow your career aspirations to Abbott for diverse opportunities with a company that can help you build your future and live your best life. Abbott is an Equal Opportunity Employer, committed to employee diversity.

Connect with us at www.abbott.com, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal.

The base pay for this position is $57,300.00 – $114,700.00. In specific locations, the pay range may vary from the range posted.