De uitdaging
Al meer dan 50 jaar levert Malin zijn klanten uitzonderlijk slim ontworpen en energiezuinige Raymond-heftrucks, fleet management, geïntegreerde systemen, opslagoplossingen en nog veel meer.
Net als vele andere groeiende bedrijven voerde Malin een aantal processen handmatig en zonder goede tracking uit. Ze hadden moeite de diverse leverings- en betalingsvoorkeuren van klanten te ondersteunen, en hun eigen portfolio en debiteurenbeheer liepen ook achter. Het debiteurenbeheer gebruikte een maandelijkse spreadsheet voor het klantencontact, maar vanwege de eentonige aard van het werk lag het personeelsverloop team hoog. Wat Malin specifiek nodig had was een manier om effectief contact te zoeken met klanten met betalingsachterstanden van 30 en 90 dagen.
De oplossing
With digital transformation and improved customer experience initiatives, Malin had been advised by their parent company Raymond Corp, to consider taking advantage of the automated, digital payment solutions provided by Billtrust which enabled several other Raymond dealers and Raymond Corp to enhance payment acceptance flexibility across every touch point within the AR process. They first implemented Billtrust Invoicing, giving their customers the option to receive invoices however they wanted. To further efficiencies internally, they rolled out Billtrust Cash Application which streamlined applying customer payments and remittance information. Next, they implemented Billtrust’s AP Portal Delivery, which automated invoice posting into third-party AP procure-to-pay portals like Ariba and eliminated manual keying. Finally, to further enhance the customer experience and reduce days to pay, they launched Billtrust Collections, which automated outreach and increased account coverage on past-due payments.
“Before Billtrust, it took one employee an entire day to post cash, which didn’t always post that day. Now it takes under two hours for one person to complete.”
Eddy Harless, Finance Manager
Malin
De resultaten
Within a year, interchange fee savings alone covered Malin’s investment in Billtrust’s Invoicing and Payments solutions. Now, 91% of their customers receive electronic invoices, and 50% of their AR team has been reallocated to other strategic areas within the business. With Billtrust Cash Application, they saw a 75%, or six-hour reduction, in their daily process, and with AP Portal Delivery, one employee can manage all of their customers’ AP portals. Through Billtrust Collections, Malin reduced aging buckets for customers 30 and 90 days past due by 74% and 78%, respectively, in under four years. Because of Billtrust, the Malin team could easily pivot and manage their order-to-cash operation remotely, which proved imperative during the COVID-19 pandemic.