DLC launched into a multi-pronged approach, quickly understanding that solving each issue sequentially would not result in a sustainable solution. Immediately identifying that AR collection efforts were stymied by lack of visibility into detailed invoicing alongside multiple billing channels creating confusion between actual vs. accruals, DLC proposed a novel plan to alleviate the pre-existing AR aging while reformulating the receivables process and the interaction within the larger context of the operations teams.
Analyzed and created collections protocol for prioritizing aged Accounts Receivable
Developed cross-functional support for Finance, enabling proactive approach to working capital
Launched intracompany mgmt. reporting to allow insight into Financial metrics, eliminating requests for information
Receiving executive approval to proceed, DLC successfully collected 80%+ of the aged AR within 90 days while implementing processes to between sales and finance reduce the cash conversion cycle by over 65 days.
As there was substantial data analysis involved, DLC was able to produce Power BI reporting and dashboards to the management teams, moving them from a reactive organization to a proactive one.