Digital receivables management in agencies
More liquidity, less effort: How the agency Claneo completely automated its receivables management
Overdue payments
Time spent collecting
Branche
Digital Agency
location
Berlin
EMPLOYEES
80 +
Customers
Small and medium-sized enterprises, large international corporations.
Key Take Aways
- 75% less processing time for following up on unpaid invoices
- 50% reduction of overdue invoices in 6 weeks
- Automation of processes in dunning and payment allocation
About Claneo
Claneo is an internationally active and award-winning agency for international search & content marketing based in Berlin. Its clients include small and medium-sized companies as well as international conglomerates from a wide range of industries. Founded in 2017, the team has already grown to over 80 employees.
Challenges
Process automation
In receivables management, time is an essential factor in avoiding late payments or, in the worst case, bad debt losses. Valuable time should not be lost by having to process simple and recurring tasks manually. This applies, for example, to the processing of open items or the sending of payment reminders.
Smart deciphering
Customer deposits and open invoices are to be allocated in a time-saving and precise manner.
Lack of overview of open invoices
Which invoice has not yet been paid and which tasks are due today? Such questions should be answerable without much research. And it should also be clear who is responsible and should take care of the tasks.
Lack of transparency
The challenge in receivables management is to combine many individual data points into one big picture. At the same time, however, the details of individual customers, individual invoices, individual transactions and individual interactions must not be lost.
Optimize response times
Which invoice has not yet been paid and which tasks are due today? Such questions should be answerable without much research. And it should also be clear who is responsible and should take care of the tasks.
”
It's important for us to get paid on time. Having a real-time overview of our invoices is crucial in this regard.
Martin Grahl, Managing Director at Claneo GmbH
“
Claneo's Experiences with VEITA
Faster payments: Receipt of payments accelerated significantly within the first few weeks. The proportion of overdue invoices was significantly reduced.
Efficiency: By automating and accelerating dunning and payment allocation processes, Claneo was able to significantly increase efficiency in accounts receivable. Instead of 3 days per month, the accounts receivable manager now requires a few hours per month. Better results were also achieved, as more time is now available for more complex issues.
Transparency and collaboration: With VEITA, it is now easy for Claneo to keep track of every customer, every invoice, every balance, every transaction and every interaction. And because VEITA is a cloud-based solution, Claneo team members can also collaborate at the home office or on the road.
Improved reporting: Claneo takes advantage of the ability to analyze data for even more customized analyses in a business intelligence (BI) tool. VEITA provided pre-built dashboard templates with charts and filtering capabilities for this purpose. The dashboard templates have had the dual benefit for Claneo of saving time in collecting and organizing data as well as gaining more valuable information.
