Cheetah Digital had no automated dunning process, so their clients were receiving an invoice and then never hearing from them again, or only hearing from then when the invoice was severely delinquent. The collectors, all of whom were new, were each attacking their portfolio in a variety of ways, spreadsheets, system reports etc. so there was no consistency in their approach and no visibility to anyone else throughout the company.
With the implementation of the YayPay AR solution, they achieved the following:
• DSO reduction globally of 20 days
• 35% reduction in overdue
• Automated workflows that integrate sales and the AR team.
• Internal reporting for global transparency on the entire AR portfolio.
• Zero automation and no consistent process for follow-up.
• No oversight or communication of aging to customers prior to past due.
“We have seen payments come in faster, and a better customer experience because we are able to address things quickly."
- Chris Pearce, International Finance Director EMEA and APAC
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