Excessive A/R Due to Multiple Acquisitions,
Difficult Economic Environment, Limited Resources
and No Budget to Handle Recovery.
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Industry
Professional
Services - Consulting, Training
Challenge
Over
360 A/R of $8M, DSO at 60 Days
Results
$4.1M
of Old A/R Recovered, 29.4% DSO Reduction |
A global provider of professional services had grown
by acquisition. Due to the challenges of absorbing
the different systems and A/R without accompanying
staff, a high level of A/R existed. Harvest worked
with the client on 2 continents and 5 sites to recover
over 360-day-old A/R from US and International customers.
This yielded a 29.4% DSO reduction and recovered over
$4.1 million in cash. The effort was so successful,
it was noted in their annual report.
Current Collections Staff Unable
to Focus On Over 360 Day A/R; High Bad Debt Reserves;
Limited Budget for additional Resources.
|
Industry
Computer
Peripherals - Equipment Manufacturer
Challenge
$2M
of > 600 Day Old A/R, $250K EDI bottleneck
Results
$1.5M
of Old A/R Recovered in Under 9 Months |
A division of a larger conglomerate which manufactures
and sells computer peripherals to the Fortune 500
was looking to reduce its over 360-day old A/R. Current
collections staff had its hands full keeping up with
current invoices. So, Harvest was assigned the over
360-day A/R collections. Harvest worked at the client's
corporate headquarters to recover over $1.5 million
in 600+ day-old A/R, helped resolve $250K of EDI only
A/R as well.
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