Crompton mitigates AR costs and improves sales productivity with FreePay

Crompton

Crompton mitigates AR costs and improves sales productivity with FreePay

The Objective

To reduce DSO, increase the productivity of the Sales team as well as reduce their overall cost involved in collections and reconciliation.

The Background

Crompton is a leading consumer electrical company with two business divisions - Lighting and Electrical Consumer Durables. Their products are available in nearly 150,000 retail points, serving a 3000+ dealers/distributor network.

The Challenge

Offline invoice presentment, cheque payments, loss of team’s productivity and loss of potential revenue.

Our Solution

Global PayEX worked closely with Goldmedal’s Finance, Sales & IT team to deploy their Electronic Invoice Presentment and Payment (EIPP) Solution called FreePay. The PayEX team quickly put the following into action:

The Results

The Crompton commercial team has realized significant benefits - as they can channel their team to purely focus on sales and maintain an excellent distributor relationship. Distributor benefits - the entire process has become transparent, seamless and fast. The real-time reconciliation has helped the company to release distributor limits instantly even at month ends which has large volumes of transactions. The F&A (finance teams) can focus on more productive work rather than on manual reconciliation, communications and ERP postings.

The Numbers

0 %

Productivity Increase of Sales Team

0 %

Reduction in Cost Involved in AR Collection and Reconciliation

Testimonial

GET IN TOUCH

Want to start optimizing your working capital?