The credit and collections team at Staples were presented with an objective from the CFO – reduce bad debt by 20%. However, they already faced a number of challenges. Seven collectors were struggling with over 900 accounts each, and were manually tracing invoices from customer portals – and many processes were largely paper-based. It was clear that in order to meet their target of 20% bad-debt reduction, changes would have to be made, so the team introduced an automated cloud-based solution.
Download this case study to find out how Staples automated their collections process and achieved:
- 27% reduction in past dues
- 5+ days reduction in DSO
- 8% reduction in 60+ days aging bucket