The challenge: managing the daily orders of 2,000 active clients manually
Hadco struggled to keep up with their 2,000 active clients that make new orders every day. When new invoices come in daily, it’s hard for a team of 4 to stay on top of receivable collection without streamlined processes for invoicing and collecting receivables. Things can quickly become hectic. The collections team was overwhelmed every minute of every day.
Hadco’s system already places past due customer accounts on hold after 31 days. However, that means no new orders can go through, causing loss of business for Hadco and order delays for the customer.
But what about the clients who don’t make new orders? These overdue invoices fall through the cracks, especially if the invoice amount is relatively low. Outstanding invoices add up to significant sums, and if the collections team doesn’t handle them, funds are lost forever.
“My team was busy every minute from the second they arrive at the office, and my goal was to find a solution with as many automatic capabilities as possible…And I have to say, I was very impressed with Gaviti.”– Irina Shpilman, CFO, Hadco
The solution: Abandon manual work, automate A/R and payment collections instead
Hadco’s CFO, Irina, wanted a solution that didn’t require hiring and training new people. Instead, she was looking for a way to make the collection department’s operations more efficient. She wanted the daily operations of invoicing, following up, sending reminders, and collecting to run smoothly. Irina was looking for comprehensive automation to make up for the small collections team and the heavy workload. She wanted her department and clients to be equally satisfied.
It’s crucial for accounts receivables to keep up with client demand and get paid on time. The best way to meet business demand? Streamline and automate the collection process end-to-end.
“My collectors and CEO were very skeptical about Gaviti…change isn’t easy for everyone, but now they are very happy with the system, and they love using it.“– Irina Shpilman, CFO, Hadco
The benefits: clients and team satisfaction, recovering low balance invoices automatically
It’s been less than 2 months since Hadco adopted Gaviti’s solution. The CEO and team of collectors love the newfound visibility and clarity they have over the collection process. Auto reminders started going out to clients, and in response, checks began arriving at Hadco’s offices. The Hadco collection team is pleasantly surprised at how easy it is to recover old accounts they otherwise wouldn’t reach. The best part is that clients are more engaged and even compliment Hadco for their new collection system.
“Our customers like getting Gaviti’s automated reminders. They actually told us that this is genius and thanked us for the reminder.”– Irina Shpilman, CFO, Hadco