Cash and receivable issues are on the radar screen for senior-level executives, board members, and Wall Street. If you’re struggling to increase free cash flow, SolomonEdwards’ Dash-for-Cash (DFC) program is a novel approach to Order-to-Cash (OTC) that frees up working capital by bringing cash in the door and establishing a roadmap for a sustainable model — including a plan to deliver quick results.
We put experienced people on the ground, working alongside your personnel to identify high priority OTC improvements that have immediate impact on the effectiveness of AR collections. We use a two-phased approach to assess internal practices while executing on the DFC program.
If you check some of these boxes, there’s a good chance that we can find your cash and help you improve your processes:
Download this health checker to assess whether you need OTC help. If you answer yes to any of these boxes, there’s a good chance that we can find your cash and improve your processes.Download brochure
How many of your customers without standing receivable balances are over their credit limit?
What's the visibility and access to your contract datasbase?
What is your policy and how are you enforcing it?
How well are your collectors following best practices when it comes to day-to-day processes?
Do you have a collections dashboard? Are you using a collections module? Have there been data migration or integration challenges?
Do you have a dedicated team to resolve invoice disputes?
How often does a cash applicator misapply cash to the sub-ledger?
How are overrides to credit limits approved and tracked?
How siloed are responsibilities between collections and cash application?
How structured is the data integrity and are there issues with the story that the AR sub-ledger tells?
SolomonEdwards embeds a team to immediately start collecting cash, all while cataloging root cause data. We will:
….all while we’re collecting money for you and generating a positive ROI!
SolomonEdwards helped a Fortune 500 company operating in 50 countries in the middle of an initiative to free up $200- $300 million in cash flow from its AR balances throughout its global footprint. We helped the client realize a 700% ROI on consulting fees with the following benefits: • Over $33M collected in the first 16 weeks from customers; $80M in total • Recovered $19M in bad debt reserves by focusing on severely aged items • Developed a roadmap for sustainable improvements to be achieved in 4-6 months
An industry leading supplier of advanced industrial safety equipment and services was falling short of its targeted DSO and working capital. The management team engaged SolomonEdwards to assess its OTC processes, establish targets, and develop a prioritized roadmap. We deployed a modified DFC project team for their specific distressed portfolio. • Reduced DSO by 7 days in 4 months • Established a cross-functional accountability model for Past Due AR • Developed detailed plans to achieve the remaining DSO reduction and transitioned to the client team to execute
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