The Challenge: countless hours of manual collections was unscalable and unsustainable for a small team.
The team was putting in untold hours to keep up with the hundreds of open invoices per month, produce necessary reports, and find the time to resolve invoicing issues. To keep up with the company’s expansion, Benjamin Gross of monday.com’s accounts receivable department understood that he would benefit from enhanced automation. He also wanted to ensure that there was the option to personalize messages to their varied customer base and avoid generic emails.
The Solution: Adopt an automated tool that would track and manage customer’s payments, eliminate manual invoice processes and reduce work hours.
When monday.com’s VP of Finance, Kfir Lipman, first connected with Gaviti, we knew our AR Collections Automation platform could have several benefits to address the challenges he was facing. The tool allows customers to send personalized emails and store notes, tasks, and reminders through an easy and digestible platform. They can also send quick replies through Gaviti, which stores their responses, making it easy to streamline their communications and scale their collections.
Gaviti is the only AR collections platform that integrates with Priority ERP, enhancing the partnership and driving simpler business processes, addressing three significant challenges:
- Automatic notifications brought awareness to overdue invoices
- Upcoming invoices sent reminders accordingly
- Flexible payment options meant invoices were rapidly completed
monday.com created a custom Gaviti workflow specifically for customers with low invoice amounts. They were able to include various payment options relevant to smaller invoices, like credit card payment options. The process took less than ten minutes and immediately reduced the team’s overall collection efforts.
Results with Gaviti: Control, Transparency, and Data-Driven Insights for Invoice Collections
“Gaviti’s product team hears us. We can see the results in the quickness of their regular platform enhancements.”
“Our Gaviti Customer Success Manager is the most responsive person I know. We’ll sometimes get a ping from Arielle even before we have noticed that there is an issue in how we have uploaded a file.”Benjamin Gross, monday.com Accounts Receivable
As Gaviti continues to roll out product enhancements for their AR team, monday.com can now more easily search through invoices, customers, activities, collectors, and other internal stakeholder views. With his Customer Success rep at Gaviti, Benjamin saw his feedback enhance the product.
Adopting Gaviti helped Benjamin and his team control the company’s collections process and reduce the hours spent tracking overdue customers and invoices. The ability to track actions from the customer side, and determining which emails were opened created a huge impact on how the team manages messages and workflows.