A large manufacturer of commercial and residential equipment was in the starting phase of adopting a new global credit organization with a focus on reducing past dues of $350M by year-end. With three global shared service centers, and 55 ERP systems/configurations in use, they had no centralized reporting to give direction on how to proceed.
The Company turned to us for a tailored assessment of the collection environment and controls, and to expedite cash recovery while documenting root causes for non-payment through year-end.
SolomonEdwards deployed and managed a team of 12 Dash-for-Cash experts over the course of 15 weeks. This dynamic group first implemented quick wins that yielded immediate, tangible collections results and a significant ROI.
For lasting adoption, the collection team catalogued root causes, combined with company and industry best practices, to develop a roadmap for transformation of sustainable improvements to be achieved in 90 days and beyond.
SolomonEdwards is providing ongoing support to evaluate and transform the client’s collection function across shared services to align with the new global credit policy and organization.
Caroline is a Principal with SolomonEdwards’ Houston Consulting Group and is a hands-on Shared Services leader with expertise in order-to-cash (OTC), procure-to-pay (P2P) and Service Center assessments with demonstrated success overhauling business processes, restructuring staff, and designing metrics and systems to maximize impact to the bottom line. She specializes in working capital initiatives focused on fast improvement in cash and liquidity.
Margaret Stribling oversees our A&F Transformation services, with a particular focus on Business Transformation and Outsourced Accounting. She also serves as the lead for both the Energy and Manufacturing & Industrial Supply verticals. Margaret brings over 20 years of experience within the Big 4, industry and consulting. Her expertise includes business transformation and optimization, financial reporting and managing multiple complex projects.