Accounts Revenue Generation Project
FINANCE
A company’s finance department was not able to capitalize on a 2% discount offered by vendors for processing invoices within ten business days. Over a two year period the company failed to benefit from the discounts 50% of the time resulting in a loss of almost $1 million.
- The new process realized $1.78 million in annualized hard savings
- There was an overall 78% improvement in the process
Accounts Withdrawal Accuracy
FINANCE
A health insurance administrator for ASO accounts had a flawed billing process. The result was 25% of the customers had experienced incorrect administrative fees being charged to their account. An additional 8% of the customers were impacted by late withdrawal of fees. A project was launched to
improve internal efficiency (too many reconciliation checkpoints and manual workflows) and decrease customer dissatisfaction.
- The new process financial benefit of $304,688 and over the course of 8 months
- There were no errors
- Cycle time went from 2 weeks to 3 days
AR & DSO Reduction Project
EQUIPMENT SALES ORGANIZATION
The Asia-Pacific branch of this company had been experiencing high overdue Account Receivables (AR) and high Day Sales Outstanding (DSO).
- Days Sales Outstanding was reduced from 161 to 80 days in less than one year
- The company has experienced more cash flow available and pays less finance charges to their lenders
- This project has earned respect from their customers for the control processes on Account Receivables
Invoicing Process Improvement
SALES ORGANIZATION
The branch operation serving this country had an inefficient system of processing invoices and sending them to their customers.
