For Billtrust Collections
83% OF CUSTOMER COMMUNICATIONS
3X ACCOUNT COVERAGE INCREASE
$5 MILLION IN PAYMENTS
Automated with BPN
68% ELECTRONIC PRESENTMENT
Founded in 1992, Waterlogic is an industry leader in bottleless water, servicing more than 100,000 organizations across North America. They provide an alternative to traditional five-gallon bottled water jugs by purifying tap water through a five-step filter process.
As a high-growth company, Waterlogic has partnered with Billtrust since 2014 to enhance order-to-cash processes such as invoice presentment and distribution, customer payment processing and cash application. In 2020, they were planning for an ERP conversion, but with the pandemic, Waterlogic lost all of their offshore collections team and was in need of a solution to maintain company cash flow.
Since Waterlogic had already worked with Billtrust and implemented their solutions for invoicing, payments, cash application and most recently joining their Business Payments Network (BPN) to automate virtual card payments, they knew they could depend on Billtrust for support with collections. They were up against the clock, however, and needed to work vigorously with the Billtrust Implementation Team to help get the solution up and running as quickly as possible.
With multiple Billtrust solutions, 68% of Waterlogic’s customers receive some form of electronic invoicing, and 20% pay electronically and have a 76% match rate when applying lockbox payments -- saving hours of manual labor. They also automated over $5 million in payments through BPN in the last two years. Most recently, they were able to launch Billtrust Collections in under 30 days, implementing a consistent, effective contact management approach while eliminating outsourced resources. A year later, Waterlogic has automated 83% of their customer communications, increased account coverage three-fold, improved customer response rates from 1% to 7% and exceeded their previous highest monthly collections amount by $1 million on the same revenue streams.
“During a very challenging time, Billtrust was there, working hand-in-hand to help us eliminate the need for outsourced collectors which presented PCI-compliance challenges. This gave us a self-configurable solution that can grow and change as we do, which is hugely important to our business.”Nate Hurst, CEO of Waterlogic
Download this case study as a PDF
This case study is available as PDF for your records, or for easy sharing with your team.