Hampers with Bite Case Study

Hampers with Bite Case Study

Hampers with Bite Logo
Hampers with Bite, founded by brothers Nick and Rory Boyle in 2004; to address the gap in the market for modern gift hampers. Their vision was to produce beautifully packaged gourmet product hampers at a very reasonable price.

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.”

 

See how AR automation works to get your accounts receivables under control

Watch a demo

Martec Case Study

Martec Case Study

MARTEC’S ceiling fans, LED lights and bathroom fixtures are stocked in major wholesalers, mum-and-dad lighting shops and “everything in between”, says Linda Attenborough, MARTEC’s Financial Controller for the past eleven years. The supply chain, built over fifty years in business, extends around Australia and internationally. With over 3000 customers on account at any time, managing receivables was a full-time job for two of Linda’s staff. But it’s not anymore, says Linda, who implemented automated debtor management 12 months ago and describes ezyCollect as a godsend.

“ezyCollect is a godsend,”  – Linda Attenborough

The debtor management challenge

MARTEC moved its accounting system to MYOB Exo three years ago, and was using a combination of daily and weekly receivables reports, numerous Excel spreadsheets and “emails galore” to keep track of thousands of open accounts. “Because we have a wide variety of trading terms for debtors, trying to find a way to maintain all of them was hard,” explains Linda. Without good visibility of overdue accounts or a concise history of debtor communications, Linda felt like she was flying blind.

“It felt like I was always flying blind.” – Linda Attenborough


When MARTEC’s MYOB consultant, Kilimanjaro, suggested ezyCollect could help with cash flow and debtor management, Linda was ready to consider a better way to recover cash.

What MARTEC looked for in its debtor management solution

  • Eliminate manual processes: When reminder emails were sent, they were manually typed each time and the email trail was not easily shared amongst team members.
  • Save staff time: As the business grew, Linda had two full-time staff chasing payments, and she personally handled any accounts at risk of becoming delinquent.
  • One source of truth: It was hard to compile a complete debtor management picture as the process was managed from multiple sources of information.
  • More visibility: Some accounts aged to 120+ days because the accounts team didn’t have high visibility on ageing invoice data, or the time to consistently remind customers to pay.
  • Improved cash flow: With 27 percent of accounts overdue, cash flow forecasting was less predictable than Linda would have liked.

The results with ezyCollect

One year after implementing ezyCollect, MARTEC’s accounts receivables and debtor management picture looks remarkably different:

  • 80% improvement: From a starting point of 27 percent of accounts overdue, only five percent of MARTEC’s accounts receivables are now overdue. By the end of the month it’s closer to three percent, says Linda, whose goal is to keep overdue accounts to under ten percent: “Each month we’re getting better and better.”

    “Each month we’re getting better and better.”


  • Saves 8hrs/day: Linda estimates ezyCollect saves eight hours a day, the equivalent of a full-time staff member, allowing her to deploy her team to other processes within the business that require their time and talents.

  • Act faster: Receivables no longer age as long, as ezyCollect identifies ageing debtors before they have the chance to become delinquent, allowing Linda’s team to follow up proactively. The team has an up-to-date log of all debtor communications in one place and can take decisive action with confidence.

  • Automation with customisation: “We set what we want the reminders to say and when they are sent.” Linda likes that she can exclude single invoices, so an individual invoice doesn’t prevent the entire account from being kept to terms.

  • Consistent communications: Now overdue debtors consistently receive payment reminders which include a copy of overdue invoices. “It helps debtors, too,” says Linda, who can now be sure her debtors have received the invoice and have all the payment information on hand.

“It helps debtors, too.”

Now Linda is looking forward to adding the Simplypaid function to invoices, allowing her debtors to click and pay online. “I’m hoping it will help us get the five percent overdue down to one or two percent!”

To see how ezyCollect can get your accounts receivables under control, take a tour today.

Download the 

Martec Case Study
IQPC Case Study

IQPC Case Study

IQPC in Perth knows business IT services and client support. It’s what they’ve delivered for the past 26 years. A five-fold growth in their team size has enabled them to offer their clients even deeper support to maintain and improve their essential IT services. More services equals more invoices to collect. In 2018, IQPC improved its invoice-to-payment efficiency by integrating ezyCollect with its Xero accounting software.

 

The Problem

 

Phil Wainwright is a director and co-owner of IQPC. He has personally overseen the accounts receivable process from the time the company issued its first invoice in 1994. Two decades later, an entirely manual process of chasing payments reached its tipping point.

“When it got to around 400-500 invoices a month, it was really hard to keep control of debtors,” explains Phil.

Although IQPC had a great track record of positive cashflow, the workload to recover cash was becoming a bigger burden on the four administration staff who shared the accounts receivable job.

IQPC’s variable payment terms added complexity to the job: some invoices would become overdue after seven days, others had 30-day terms. While Phil describes Xero as an “amazing accounting system”, he describes its capabilities to communicate with customers about overdue invoices as basic.

“Xero would send automated reminders on a per invoice basis. That was confusing and annoying for our clients,” says Phil, whose clients could accumulate up to 20 invoices each month. 

Unable to rely on autopilot, Phil’s team had the daunting task of extracting a long list of overdue invoices from Xero and manually preparing reminders. As the team completed collection calls, staff had to create and duplicate their call notes on every invoice in Xero. 

“The system was breaking down and things were getting missed and forgotten,” explains Phil.

The team was losing even more time processing credit card payments manually over the phone. 

“We desperately needed a good online payment gateway,” says Phil.

 

The Solution

 

IQPC integrated ezyCollect with Xero to solve two major pain points that were costing the business time: following up every invoice to payment; and accepting and allocating payments easily.

Now, IQPC deploys a 6-step workflow of automated emails interspersed with phone call tasks for staff. Customers appreciate the consolidated account information in every communication. And staff appreciate the daily call list emailed to them. 

We have found that the vast majority of clients respond directly to the automatic email reminders, so the daily call list is usually very small. Sometimes no calls at all,” reports Phil.

The automated end-of-month statement also acts as a powerful reminder and collection tool. “We always get a flood of payments for the next few days after our monthly scheduled statement run.

In addition, IQPC has deployed the online payment portal available in ezyCollect. Clients receive a reminder or monthly statement, click a Pay Now button, and enter a personalised payment portal listing every open invoice.

Previously, IQPC’s clients would need to call and ask for missing invoices; now they can access and query all of their invoices from their payment portal.

“Our customers have everything they need via their reminders, statement, and payment portal and can self-serve 95 percent of the time. Our team is no longer spending 8 hours a week answering their enquiries,” says Phil.

What’s more, the online payments system costs IQPC nothing to run, with no monthly service fees and transaction fees low enough that IQPC can surcharge to clients.

 

The Results

 

Before

After

  • Clients confused by too many invoice reminders from Xero
  • Too many invoices to chase
  • Messy system to log follow-up actions and share with team
  • Time-intensive phone call reminders
  • Clients call up for missing invoice information and to pay with credit card
  • Staff spent hours typing email reminders
  • Customers pay by cheque and staff spend time on banking
  • Clients receive concise account reminders from ezyCollect
  • Every account is tracked, monitored and communicated with
  • Automated workflow tracks itself and records progress. Keeps manual notes in one place.
  • Fewer, more efficient phone calls
  • Clients self-serve from their online customer portal to view, query and pay all invoices
  • Staff have time to prepare quotes and manage customer service
  • Customers pay with credit card via a secure online checkout

The Impact

 

IQPC saves at least eight hours each week or $12,000 a year. That saving is now directly allocated to more customer care. 

“We’ve automated other processes in the business, too, and streamlining the entire administration function has meant that our staff can evolve into more challenging roles. People who were doing manual data entry are now customer service professionals at the front line of our business.”

Ironically, after integrating ezyCollect’s sophisticated reminder system, IQPC’s clients actually receive fewer payment reminders.

“Our customers are no longer pestered with too many reminders. With ezyCollect they receive drastically fewer reminders and all the information is laid out in front of them. They can answer their own questions.”

Phil is pleased his IT business has been able to support its own clients with a digital payments experience. “The payment portal has a very slick and modern design so it creates a great impression on the client. Rather important for a tech company!”

 

Key Benefits

Better customer experience

Major time savings

AR visibility

Improved professionalism

Seamless online payments

Phil’s final word

“Xero is a fantastic accounting system and ezyCollect is the perfect complement to that system.Chasing over 700 invoices a month without ezyCollect would be a nightmare. We get paid quicker. Our clients get a much better experience. It’s less stress all around.”

Download the 

IQPC Case Study

CW Systems Case Study

CW Systems Case Study

CW Systems Pty Ltd is a leading distributor of blinds and shutters around Australia. The family-run business has been supplying high-quality window furnishings to major retail outlets since 1998. In 2014, the growing business upgraded its business management software to NetSuite to streamline its increasingly complex sales-to-dispatch workflow. In 2019, CW Systems integrated ezyCollect’s accounts receivable platform.

The Challenge

Christian Cruz took over as finance manager in 2017. He inherited a largely manual process of debtor management that used the resources of his accounts receivable officer and even the customer service team.

“Due to a lack of time, each week the customer service department would help the finance team to call our overdue customers,” says Christian.

On top of spending 2-3 hours each day making collection calls, Christian was losing four hours a week preparing email reminders—time he should have been allocating to preparing his budget and forecasting reports.

With some major retailers accruing up to 50 open invoices each month, it was a laborious task to go back and forth between NetSuite, Excel and Outlook to present customers with all of their invoice details.

“We didn’t have the time to contact every customer that was overdue, only the most overdue with the highest value.”

The Solution

CW Systems set up ezyCollect to work with NetSuite in June 2019 and sent their first automated communications eight days later.

The volume of reminder emails being generated by CW Systems increased immediately, with the business having the flexibility to exclude customers from the automated sequence.

CW Systems’ second payment reminder in the multi-step automated sequence is the most effective in generating a payment but the pre-reminder notice, which Christian schedules for five days before an invoice is due, has been a happy surprise.

“With the pre-reminder email, we have a lot of customers paying early.”

Even collection calls are fewer and easier now. “The reminders are populated with all the information customers need, so if I have to call them, they already have everything in front of them,” reports Christian.

In addition, the new online payments facility makes collecting money a 24/7 reality.

“With a Pay Now button on our communications, we are receiving payments at 11pm and two o’clock in the morning as our customers find time to do their accounting.”

An added bonus has been the Pay by Instalments service available within the online customer payment portal. Credit-worthy customers can opt to settle their account in full by entering a payment plan with a third party finance provider.

“We get paid in full and that means our customer avoids going on account hold. They can keep trading with us while better managing their cashflow. It helps them and us,” says Christian.

Results

Before

After

  • Multiple disparate systems to view and communicate accounts receivable
  • Messy process involving two teams
  • Limited reminders to a few customers
  • Low visibility of overdues
  • Average DSO 60 days
  • Missing payments due to office closed
  • Customers withhold payment due to cashflow gaps
  • Time-intensive phone call follow-ups
  • Central accounts receivable platform integrated with NetSuite
  • Faster, streamlined process managed by finance
  • Reach every overdue customer with multiple reminders
  • Management can easily get AR insights
  • DSO down 20% within 3 months
  • Online payments come in 24/7
  • Customers have easy access to pay in instalments
  • Fewer, more efficient phone calls

 The Impact

CW Systems now has a standardised accounts receivable process that has eliminated the mess of spreadsheets and brought instant visibility to its outstanding cash balances.

“We can grab a picture from the dashboard of the value of current overdues and longest overdue customers. It really helps when communicating to management,” says Christian.

Time saved is the biggest return on investment for the busy finance team. “What used to take five minutes to send a reminder email with all the right information, now takes around five seconds,” reports Christian.

The boost to cash reserves as invoices get paid faster also has a major pay-off. Now, CW Systems can consistently pay its own suppliers on time or in advance, without needing to dip into cash reserves set aside for tax payments.

Key Benefits

More working capital

Online payments 24/7

Major time savings

Bird’s eye AR visibility

Pay by Instalments

With a view to increasing their manufacturing arm, CW Systems now has the accounts receivable muscle to keep the cashflow pumping in the right direction.

Download the 

CW Systems Case Study