Cash Application Specialist I

Department: Finance

Location: Santiago, Chile

Position Overview

Cash Apps is responsible for the accurate and timely application of customer payments to the correct accounts and invoices. The role ensures the integrity of the Accounts Receivable (AR) ledger, minimizes unapplied cash, and supports effective cash flow management through compliance with defined controls, policies, and service levels.

Job Responsibilities

Payment Application & Accuracy

• Apply incoming customer payments to the correct customer accounts and open invoices.

• Ensure accuracy of postings to prevent misapplications, duplicate postings, or unapplied cash.

Accounts Receivable Ledger Maintenance

• Maintain accurate AR ledger balances by ensuring all applied cash is properly reflected in systems of record.

• Monitor, research, and resolve unapplied, partially applied, or on‑account cash.

Payment Research & Issue Resolution

• Investigate payment discrepancies such as short payments, overpayments, incorrect remittances, or unidentified payments.

• Review remittance advice, bank data, and system information to determine root cause and appropriate resolution.

Cross‑Functional Collaboration

• Coordinate with Collections, Billing, and Customer Support teams to resolve payment issues or invoice‑related discrepancies.

• Escalate unresolved or complex cases in accordance with defined operational controls.

Service Levels & Performance

• Meet defined SLAs and KPIs related to timeliness and accuracy of cash application.

• Support audit readiness by maintaining accurate documentation and transaction traceability.

Key Outcomes

• Accurate customer account balances.
• Reduced unapplied and aged cash.
• Improved cash flow visibility.
• Strong partnership with upstream and downstream OTC teams.

Service Level Agreements

• Cash applied within 24-48 hours after posting to a bank account.
• Collection related items that involve cash application need to be resolved within 24 hours.
• Account reconciled at end of month.

Qualitications

• Proven work experience as a Cash Applications Specialist or similar role
• Strong understanding of basic accounting principles
• Proficient in MS Office, especially Excel, and accounting software
• Excellent data entry skills and a high degree of accuracy
• Ability to work independently and as part of a team
• Strong numerical aptitude and problem-solving skills
• Excellent communication skills, both verbal and written
• Associate’s or Bachelor’s degree in Finance, Accounting, or a related field is a plus

Organizational Alignment

Reports to: Manager, Order to Cash

Environmental Job Requirement and Working Conditions

Primary office location: Santiago, Chile

Position Requires:

• minimal (less than 25%) travel required both domestic and international to Sovos locations and events
• Utilize technology (e.g., phone systems, computer hardware and software applications) to fulfill work requirements

Company Background

Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction control compliance, tax reporting and more. The company supports more than 8,000 customers, including half of the Fortune 500, operating in over 70 countries. Its SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout North America, Latin America and Europe, and is owned by Hg and TA Associates. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.