Seventeen years on, Hampers with Bite is a leading supplier of hampers within Australia, working with brands like ANZ, Telstra, and Coca-Cola, to create bespoke and memorable gifts.
“Everything that we’ve seen from ezyCollect, we knew it was the one early on.” – Beth James, Customer Operations Manager
The AR challenge
Hampers with Bite faces the challenges of extreme seasonality. They do the majority of their business during Christmas time. This leads to cash flow issues in the middle of the year when they order stock and have thousands of open invoices and high overdue.
- Lack of visibility on invoices: Lack of visibility on all receivables – makes tracking payments difficult and chasing impossible
- Manual process of collection and chasing: Labour-intensive and inefficient manual processes lead to cash flow issues, further exasperated by seasonality
- Payment and collection inefficiencies: Receiving payments wasn’t seamless; credit card transactions were completed over the phone. The business wasn’t easy to pay.
The results with ezyCollect
- 4x revenue growth with 50% fewer resources: At peak volumes, Hampers with Bite used to allocate four full-time resources to chasing invoices. Now they only need to have two people chasing open invoices. Much higher collection effectiveness and seamless AR automation has contributed to this efficiency.
“We’ve managed to halve the resources we put towards it while quadrupling the revenue.. It has saved us 2000 hours the last financial year.”
- Saved 2350 hours in 12 months from administrative tasks – Having the ability to customer automated communication enabled Beth and her team remove the manual chasing that contributed to more efficiency
- Sped up cash recovery by 97.99% – Using Simplypaid’s digital platform, Hampers with Bite managed to skip transactions over the phone, giving their customers a rapid and easy payment method with one click.
- Reduced overdue debtor days by 94.70% in 6 months: The average of 170 days overdue rolling 6 months has been reduced to 9 days.
overdue days improvement.
“Allocating payments to customers is a lot faster. It’s a no brainer to recommend ezyCollect.”