“We were able to spend the bulk of our day collecting… and [we] would not have gotten there if it weren’t for Lockstep Collect,” Hlavac said. Perlick saw a complete transformation in their day’s sales outstanding (DSO) just five months after implementing Lockstep Collect. Since the team was able to focus their time on reaching out to more customers, they reduced their DSO from 44 days down to 37 days.
Mid-States Bolt & Screw
With Lockstep Collect, Taylor groups her customers into credit classes, allowing her to specify exactly who needs to receive invoices. The workflow will place new customers into the correct group automatically and knows when each are due to receive an email. Lockstep Collect then automatically sends emails out to those customers notifying them of their past due accounts. “The reason that I wanted Lockstep Collect, and it’s still my most favorite feature…
Securitas Electronic Security
The most powerful area of Lockstep Collect for Securitas was the advanced automated workflows. The automation allowed Securitas to reach out to and communicate with customers, without being forced to do the email outreach manually. After turning on their advanced automated workflows for their small customers, which make up about 60 percent of the company’s total customers, Securitas US was able to increase their receivables by over 247 percent.
At any given time, State Systems has around 5,000 customers that owe a balance. They split the collections process between two people; one whose primary function was to apply cash or check payments all day and the other made calls and sent out statements. Even with one person dedicated solely to statements, it was impossible for all this work to be completed. State Systems has gone from barely being able to reach all…
“When COVID hit our executives turned their focus, pretty much immediately, onto accounts receivable…It was nice to know we could rely on Lockstep Collect to send out automated notifications so we could really focus our time on what our executives really needed us to do, but still know that we weren’t abandoning all of our customers at the same time,” Perry explained. Soon, Packsize’s growth took off again as…
Tagua Gunleather, located in Miami, Florida, manufactures and sells leather gun holsters, carriers and other weapon accessories. Tagua has been in business for over 10 years creating premium leather items from 100 percent genuine cowhide. Customers of Tagua Gunleather can either purchase their products straight from their e-commerce website or they can be purchased in one of the many retailers that carry Tagua Gunleather items. For those retailers carrying their products, Tagua Gunleather is extending credit terms and collecting on invoices, which is where the need for a solution to streamline their accounts receivable process arises.
EST Associates, Inc
EST has created such a good reputation that 90% of their top 50 customers have stayed with them for over a decade. With such a wide array of customers across industries and requiring a different level of service, EST was in the market for a tool that could allow them to do more with less manual work.