When the global crisis hit, CorneaGen faced a monumental challenge. The company’s days sales outstanding (DSO) was averaging 73-78 days and invoices older than 150 days represented $1.5 million of revenue. This situation needed to improve quickly, or the organization would risk facing serious cash flow problems.
The AR team struggled with significant inefficiencies caused by poor AR practices. When invoicing, old credit notes were applied to outstanding invoices. This meant that when a customer took a credit note, CorneaGen’s team had to spend time reconciling information in the invoice history. This stalled the process and took time away from revenue-generating activities.
YayPay seamlessly integrated with CorneaGen’s NetSuite ERP to unlock the company’s financial data. The team immediately benefitted from having data organized and presented on centralized, cloud-based dashboards. Customization capabilities enabled the team to create reportable fields for data, which eliminated the time previously spent scrolling through endless customer information.
Learn more about how YayPay transformed CorneaGen’s AR team – download the case study!