Job Title: Payment Processing Team Member – P2P & Payments Operations
Position Summary
The Payment Processing Team Member is responsible for supporting end-to-end payment operations and Procure-to-Pay (P2P) processes, ensuring timely and accurate processing of supplier invoices, payments, reconciliations, and compliance activities. The role works closely with procurement, finance, vendors, and banking partners to maintain efficient P2P and Payment operations.
Key Responsibilities
a.Payment Processing
- Process domestic and international payment transactions accurately and within established timelines.
- Review and validate payment requests, supporting documentation, and approval workflows.
- Monitor payment queues and resolve payment exceptions, rejections, and failed transactions.
- Investigate and resolve payment-related inquiries from internal stakeholders and external vendors.
- Perform daily payment reconciliations and resolve discrepancies.
- Maintain accurate payment records and prepare operational reports.
b.Procure-to-Pay (P2P) Operations
- Support the end-to-end P2P cycle, including purchase orders (POs), invoice processing, and vendor payments.
- Review supplier invoices for completeness, accuracy, and compliance with company policies.
- Perform two-way or three-way matching of purchase orders, invoices, and goods receipts.
- Coordinate with procurement and business teams to resolve invoice discrepancies and approval delays.
- Process vendor master data requests and ensure data accuracy.
- Track invoice aging and support timely payment of suppliers according to agreed payment terms.
- Assist in managing vendor communications related to invoices, payment status, and account reconciliation.
- Support month-end closing activities related to accounts payable and P2P transactions.
c.Compliance & Controls
- Ensure compliance with internal controls, accounting policies, and regulatory requirements.
- Identify and escalate potential fraud, duplicate payments, or control weaknesses.
- Support internal and external audits by providing required documentation and transaction records.
- Adhere to Service Level Agreements (SLAs) and key performance indicators (KPIs).
Continuous Improvement
- Participate in process improvement initiatives to enhance efficiency, accuracy, and automation within P2P and payment operations.
- Assist in testing system enhancements and process changes.
- Contribute to the development and maintenance of standard operating procedures (SOPs).
Required Qualifications:
- B Com, M Com, CA Inter/ CWA Inter, MBA.
- Proficiency in Microsoft Excel
- Proficiency in ERP systems (e.g., SAP, Oracle).
- Experience in Accounts Payable, Payment Operations, Shared Services, or Procure-to-Pay functions.
- Understanding of invoice processing, vendor payments, purchase orders, and reconciliation processes.
- Strong attention to detail and analytical skills.
Preferred Skills
- Knowledge of end-to-end P2P processes and controls.
- Experience with vendor management and accounts payable operations.
- Familiarity with banking platforms and electronic payment methods.
- Strong problem-solving and stakeholder management skills.
- Ability to work in a fast-paced, deadline-driven environment.
