How Queue Associates reduced their average invoice collection time from 45 days to 5 days.
How Queue Associates reduced their average invoice collection time from 45 days to 5 days.
Industry:
Value Added Reseller
Value Added Reseller
Headquarters:
New York, NY
New York, NY
Locations:
14
14
The problem
The problem
Queue Associates had a problem that many companies face. They had a ton of customer orders, but there was an issue with getting paid. When they sent out bills for their services, it took a long time, around 45 days, for customers to actually pay them. Each invoice required manual collection effort and cost the business up to 6 hours each week. The slow collection process wasn’t only time-consuming, but it had potential to affect cash flow. Without money flowing into the business, potential growth was at risk of being delayed. It was imperative that Queue Associates could find a solution before any issues arise.
”
EBizCharge has cut our payment collection time tremendously. Our average DOS was previously about 45 days. Now that average is down to 5 days.
EBizCharge has cut our payment collection time tremendously. Our average DOS was previously about 45 days. Now that average is down to 5 days.
Jeffrey Goldstein from Queue Associates
The solution
The solution
EBizCharge offered Queue Associates a way to better manage their invoice payment workflow by integrating a payment processing module into their Microsoft Dynamics SL system.
The Microsoft Dynamics SL integration is pre-built by EBizCharge and allows businesses to run transactions on invoices, send email pay links and more– all from inside Microsoft Dynamics SL. With pre-built integrations, Queue Associates was able to quickly get EBizCharge implemented and were running transactions in no time.
The results
The results
- 88% decrease in payment collection time
- Centralized payments into their Microsoft Dynamics SL system
- Eliminated manual phone follow up to collect invoice payments
By integrating Microsoft Dynamics SL with email payment functionality, Queue Associates achieved a remarkable reduction in the time required to collect customer payments. Now, when their accounting team generates a new invoice, they have the option to process the transaction directly within Microsoft Dynamics SL or effortlessly send a payment link via email alongside the invoice.
This streamlined workflow has proven immensely advantageous for Queue Associates. Since its implementation, collection times have plummeted from a 45-day cycle to a mere 5 days. The email payment feature played a pivotal role in this success by eliminating the need for laborious manual phone call follow-ups, while the integration into Microsoft Dynamics SL helped to centralize all collection efforts.
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