Daylight Transport, a nationwide less-than-truckload (LTL) freight carrier, specializes in expedited freight services, moving goods across the country with unmatched speed and efficiency. To optimize their cash application and invoicing operations, they turned to Billtrust.
Before Billtrust: struggling with manual processes
Before partnering with Billtrust, Daylight Transport faced significant challenges with their cash application process. With a single cash application specialist manually entering remittance information for over 1,500 invoices daily, the process was not only time-consuming, but also prone to errors. Applying cash took an average of 2.5 days, delaying the entire receivables process and impacting days sales outstanding (DSO).
The power of AR automation
Daylight Transport chose Billtrust to automate and streamline their processes. By leveraging Billtrust’s advanced OCR technology in Cash Application, they were able to scan checks and remittance devices, automatically extracting and correlating data with open invoices. This automation allowed their cash application specialist to shift focus from manual data capture to resolving exceptions, significantly enhancing efficiency.
A 15% boost to DSO
Since implementing Billtrust, Daylight Transport has seen transformative results. All cash remittances are now applied by the end of each business day, greatly improving accuracy and efficiency. This not only equips collectors with precise information, but in conjunction with Billtrust Invoicing, also guarantees the swift delivery and tracking of invoices to customers via traditional mail, e-invoicing, or Daylight Transport’s payment portal.
One of the most significant impacts has been on Daylight Transport’s DSO, which has improved by 15%. By reducing DSO from 34 days to just 29-30 days, Daylight Transport has accelerated its cash collections, providing a notable boost to their financial performance.
Supporting growth with Billtrust’s scalable solutions
Over the last decade, Daylight Transport’s partnership with Billtrust has evolved to support their growing operations. Initially handling 1,500 invoices daily, they now manage close to 4,000, all while maintaining the same headcount. Billtrust’s scalable solutions have allowed Daylight Transport to continue delivering top-tier service without compromise.
“Billtrust has been a game-changer for our order-to-cash process. Their solutions handle everything from cash application to invoice distribution and customer portals, making our collections management more effective than ever.”
Avron Cohen, Director of Corporate Finance, Daylight Transport.
Ready to streamline your financial operations like Daylight Transport? Contact a Billtrust expert today to see how we can help your business grow.
