Challenge
After a merger, a global hearing aid manufacturer had two credit teams using different ERPs, leading to data silos and challenges in monitoring customer accounts. Additionally, the increase in remote work made it difficult to manage customer relationships and process payments, resulting in a rise in DSO.
Solution
Automated and customizable collections have improved customer touchpoints and internal relationships. Quadient AR’s robust reporting features have enabled more effective portfolio management. An online, self-service portal allows customers to access accounts and pay quickly.
Results
- Decreased DSO by 27%, with customers paying 18 days faster on average.
- Eliminated reliance on an external collection agency, fostering a more personal touch in customer interactions.
- Elevated the AR team’s internal reputation, transforming them into a strategic partner for sales.
- Enhanced customer experience by providing clear and consistent communication, reducing the chances of unwelcome surprises.
- Improved collaboration between AR and sales, enabling them to address financial challenges strategically.
“The tool is extremely user-friendly. We needed just one day to onboard everyone. Quadient AR’s support team has been fantastic,, not just with during onboarding, but with ongoing support.”
– Director of Credit