Multinational, publicly-traded global manufacturer and marketer of differentiated and specialty chemicals.
Our client was facing difficulties in Credit, Collections, and Disputes, and they desired to consolidate and standardize their global processes.
We introduced Credit, Collections, and Dispute automation modules, consolidated and standardized their global operations, and improved visibility to provide a single source of information and increase efficiency, productivity, and working capital.
Read on for more information on how we successfully delivered a positive outcome for our client.
Our customer was experiencing problems with Credit, Collections, and Disputes and wanted to simplify and standardize their global procedures. Their collection technology merely captured 50% of worldwide trade receivables. They needed to move away from manual processes for increased productivity.
For authorization and resolution of deductions, manual collaboration between departments was required. Manual customer correspondence was being used for collections and credit approvals were distributed via email.
With four platforms and limited reporting capabilities, there were no SAP integrated workflows. Excel spreadsheets were being used for sophisticated scoring models.
Manual credit report aggregation was the norm, and they had many financial data sources, including D&B e-RAM and third-party websites
For a $1MM investment in initial licensing and implementation, we introduced Credit, Collections, and Dispute automation modules, consolidated and standardized their global operations, and improved visibility to provide a single source of information and increase efficiency, productivity, and working capital.
All resulting in increased working capital of $30MM, reduction in global overdue to 2% – 4%, 5x improved productivity in account collections per day, and 96% less time taken to conduct each credit reviews.
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