Through our tailored Dash-for-Cash solution, your organization can expect to see significant improvements in your financial operations, leading to a stronger, more resilient business. Benefits include:
“We met all compliance requirements and deadlines, lowered our DSO and recovered over $33 million in uncollected receivables in 16 weeks”
—CFO, Industrial Manufacturer
The primary barriers to successful collections often lie within the organization. Inefficient processes, disparate systems, and performance gaps are common culprits that prolong days sales outstanding (DSO). Addressing these internal issues through targeted interventions and streamlined processes is essential for improving collections and optimizing working capital.
Our approach focuses on identifying and addressing these issues, enhancing collections, and optimizing working capital for lasting financial health.
SolomonEdwards provided a team of exceptional project managers and subject matter experts who successfully helped us navigate two complex projects—revenue recognition and order-to-cash. As a result, we met all compliance requirements and deadlines, lowered our DSO and recovered over $33 million in uncollected receivables in 16 weeks. SolomonEdwards is our go-to firm.
We used SolomonEdwards for our revenue recognition and order-to-cash projects and found their people to be extremely knowledgeable and responsive. They hit the ground running, worked well with our team and exceeded our expectations on both projects.
Dash-for-Cash is SolomonEdwards’ comprehensive, multi-phased approach specifically developed to address the complexities of the OTC cycle. Unlike traditional OTC solutions that focus primarily on incremental improvements, Dash-for-Cash leverages targeted assessments and strategic interventions to rapidly enhance cash flow and reduce outstanding receivables.
With our unique dual workstream methodology, we deploy specialized collections teams equipped with advanced tools to work alongside your staff. This partnership ensures the identification and execution of high-priority OTC improvements that have an immediate impact on your AR collections.
Leveraging data-driven insights, we pinpoint the root causes of delays and non-payment, recommending sustainable changes that enhance collections and reduce DSO. Our rapid implementation and comprehensive reporting guarantee quick wins and lasting results, transforming your financial operations for optimal efficiency and effectiveness.
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We bring proven capabilities and assessment tools to improve your cash flow, with a focus on areas that directly impact collections efficacy.
We worked with a global Fortune 500 industrial equipment manufacturer operating in 50 countries to free up $200-$300M in cash flow from its AR balances across its global footprint. The client realized a 700% ROI on consulting fees, in addition to other benefits including: collected over $33M from customers in the first 16 weeks of the initiative (and $80M in total); recovered $19M in bad debt reserves by focusing on severely aged items; and developed a roadmap for sustainable improvements to be implemented over several months.
An industry-leading supplier of industrial equipment and services was falling short of its targeted DSO and working capital goals. They sought our help to evaluate their OTC processes, establish targets and develop a prioritized roadmap. We also formed a dedicated team to address a specific distressed portfolio. Our work with the client led to a 7-day reduction in DSO, creation of an accountability model for past-due AR, and a plan for achieving additional DSO reduction targets.
A global manufacturer of consumer products was adopting a new global credit organization with a focus on reducing past due accounts by $350M in a matter of months. With three global shared service centers and 55 ERP systems in use, the company lacked centralized reporting to provide direction for the initiative. They sought our help to assess the collection environment and implement our Dash-for-Cash program to document and remediate root causes for non-payment. Over a 15-week period, we helped the client collect $109M in the first 90 days, with an estimated reserved AR target of $8M. In all, the client realized an ROI on the initiative of 567%
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