Explore the Role of an Accounts Payable Specialist: Responsibilities, Skills, and Growth Opportunities
Introduction:
Managing the financial backbone of any organization requires precision, diligence, and expertise. Accounts Payable Specialists play a crucial role in maintaining smooth cash flow by ensuring that vendor payments, expense processing, and compliance are meticulously handled.
This blog delves into the dynamic world of Accounts Payable, focusing on roles like Accounts Payable Specialist, Assistant Manager, and Manager, along with insights into related career opportunities in Accounts Receivable.
Hyderabad is emerging as a key player in offering such roles, with global companies like Genpact at the forefront. If you’re exploring this career path, you’re in the right place.
About the job:
The Domain Specialist of Accounts Payable will look at all the metrics and report out to leadership on periodical basis. Daily tracking of payables volumes and ensure the right allocation in the team. Domain specialist will ensure that all controls are being followed and met the SOX compliance. SLA reporting on weekly basis of all the sub processes in Accounts Payable function. Knowledge enhancement sessions for the new teammates and identify the gaps in the processes and proactive action to address any future risks.
The Domain specialist of AP is ultimately responsible for ensuring vendors are paid within contractual terms; that invoices are processed accurately and paid with appropriate approvals and support. AP Associates will also be responsible for the travel and expense and corporate card program to ensure that reimbursements enforce to company policy, paid timely and processed accurately. The Domain specialist must be excited about supplying to growth and change, as this is a fast-paced environment that is a consistently growing and changing business, requiring evolution, and build out of our systems and processes to accommodate increased payables demand.
Job Details for Accounts Payable Specialist:
| Category | Details |
|---|---|
| Job Title | Accounts Payable Specialist |
| Location | Hyderabad, Telangana, India |
| Responsibilities | Invoice processing, SLA reporting, compliance with SOX, vendor management |
| Qualifications | Bachelor’s/Master’s in Finance or Accounting, Workday Financials expertise |
| Preferred Skills | MS-Excel (VLOOKUP, Pivot), SAP Concur, strong communication skills |
| Work Environment | Fast-paced, collaborative, dynamic |
| Employer | Genpact (Equal Opportunity Employer) |
| Career Growth | Roles like Assistant Manager, Manager, or Specialist II |
What Does an Accounts Payable Specialist Do?
The Accounts Payable Specialist job description includes managing financial processes that ensure smooth vendor relationships and compliance with corporate policies. Responsibilities span from tracking invoices to resolving discrepancies and managing corporate card programs.
Responsibilities:
- Daily tracking of volumes for the entire payables process including Invoices, Helpdesk, T&E etc
- Allocation of volumes and supervising for timely completion in adherence of Service Level Agreement
- Involvement in all aspects of preparing invoices and expense reports for payment including, but not limited to; inputting to the financial reporting system, coding and verifying correct ledger codes, reviewing, in detail, all of the supporting documentation.
- Identify improvement opportunities using Benchmarking data, provide demonstrate to Managers in designing and implementing process improvements and efficiencies along with executing on results required.
- Conduct audits of invoices and expenses to ensure compliance with company policies and to protect client from fraud, waste and abuse.
- Provide accurate and helpful support with supplier inquiries.
- Independently work to resolve discrepancies with clients and departments or individuals throughout the firm.
- Program administration and oversight of the company’s corporate card program. Responsible for system administration of Concur, collaborating with technical teams to address problems and implement enhancements.
- Establish effective relationship with different partners within and outside the organization through written and verbal communication.
- Deep domain expertise in Accounts Payable Operations
- Excellent written and verbal communication skills, with a customer service mentality is a must
- End to End P2P process knowledge with accounting steps and controls
- Understanding of SLAs and implication of non-compliance
- Client handling experience which includes providing process updates/ dashboards calls and responding of critical issues
- SOX Knowledge and Transparency about control Narratives
- Result oriented (ability to prioritize & delegate) and a teammate
- Experience working within a SaaS procure to pay or ERP system is preferred. Exposure specifically Workday ERP and/or Concur Travel & Expense systems would be beneficial.
Key Roles and Opportunities in Accounts Payable:
Accounts Payable Specialist Job Description:
An Accounts Payable Specialist ensures timely and accurate payments, while maintaining compliance and managing risks. This entry-level role demands a strong foundation in financial tools and policies.
Accounts Payable Manager Vacancies:
As an Accounts Payable Manager, you oversee teams and ensure seamless execution of accounts payable processes. Your role involves strategic management of vendor relationships and leadership in optimizing workflows.
Key duties include:
- Managing a team of specialists.
- Streamlining P2P (Procure-to-Pay) processes.
- Preparing compliance reports and dashboards.
Accounts Payable Assistant Manager:
The Assistant Manager acts as a bridge between specialists and senior management. They assist in planning, monitoring, and ensuring timely completion of tasks.
Job Description:
- Overseeing daily invoice processing.
- Conducting audits and ensuring policy adherence.
- Assisting in designing process improvements.
Accounts Receivable Specialist Careers:
The Accounts Receivable Specialist complements the payable function by focusing on receivables, ensuring a healthy inflow of cash. They monitor outstanding payments, prepare aging reports, and maintain client communication.
Core responsibilities:
- Managing client invoices and ensuring timely receipts.
- Resolving payment discrepancies.
- Preparing financial reports and reconciling accounts.
Responsibilities of an Accounts Payable Manager:
Accounts Payable Managers take on strategic and leadership roles, ensuring that the entire function operates efficiently.
Key Duties:
- Leading the accounts payable team.
- Handling escalations and critical vendor issues.
- Ensuring compliance with financial regulations.
- Analyzing payment trends and recommending process enhancements.
Requirements for an Accounts Payable Specialist:
Qualifications we seek in you!
Minimum Qualifications:
- Bachelor’s /master’s degree with a major in Finance and Accounting.
- Experience with Accounts Payable or Finance.
- Functional SME with Workday Financials and SAP Concur.
Preferred Qualifications:
- Establish & Manage client relationship through regular engagement with the client
- Pro-actively identify the issues or client needs and take action
- High customer service oriented
Solid understanding on MS-Office with excellent MS-Excel skills and good PowerPoint skills (should be aware of following MS-Excel functions: VLOOKUP, Hlookup, Pivot, Graphs, Sumif, Countif, Counta, delimit, Concatenate)
Accounts Payable Specialist II: Advanced Opportunities:
For those looking to advance, the Accounts Payable Specialist II role offers more responsibility and exposure to complex systems and processes.
Key Features of the Role:
- Overseeing specialized accounts payable tasks.
- Acting as a subject matter expert in financial tools.
- Managing escalated payment issues and ensuring compliance.
This role is ideal for professionals aiming to grow in their careers with roles like Assistant Manager or Manager as the next steps.
Why Choose a Career in Accounts Payable or Receivable?
Whether you’re starting as an Accounts Payable Specialist or considering roles like Accounts Receivable Specialist Careers, the field offers:
- Stability and Growth: Financial roles remain in demand across industries.
- Diverse Opportunities: Pathways to roles like Manager, Assistant Manager, or cross-functional roles in finance.
- Skill Development: Gain expertise in tools, compliance, and financial analysis.
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About Genpact:
Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose – the relentless pursuit of a world that works better for people – we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.
Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook.
Get to know us at www.genpact.com and on the following social handles:
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Facebook: https://www.facebook.com/ProudToBeGenpact/
Instagram: https://www.instagram.com/genpact_global/
YouTube: https://www.youtube.com/@GenpactGlobal
** Beware of fake offers**
Genpact never requires applicants to pay to be part of our hiring process.
If you receive an email asking you to purchase a starter kit, equipment, or training, or to pay to apply for a role, you can assume that the message is a scam. For more information on careers at Genpact, please visit us at https://www.genpact.com/careers
Conclusion:
The accounts payable and receivable functions are vital to any organization’s financial success. With roles ranging from Specialist to Manager, there are abundant opportunities to grow and excel.
If you’re eyeing these roles in a thriving business hub like Hyderabad, consider companies like Genpact that offer global exposure, innovation, and career development.
FAQs
- What does an Accounts Payable Specialist do?
- An Accounts Payable Specialist manages invoices, ensures timely payments, and maintains compliance with financial regulations.
- What qualifications are required for an Accounts Payable Specialist?
- A degree in Finance or Accounting, along with expertise in tools like Workday ERP and SAP Concur, is essential.
- What are the responsibilities of an Accounts Payable Manager?
- Accounts Payable Managers lead teams, handle escalations, and ensure process compliance and optimization.
- What is the difference between Accounts Payable and Accounts Receivable?
- Accounts Payable handles outgoing payments to vendors, while Accounts Receivable focuses on collecting payments from clients.
- How can I apply for these roles at Genpact?
- Visit Genpact Careers to explore vacancies and apply online.
