Vittree - Finance Process Outsourcing, Assurance Services, Decision Support & Legal Services

Customised financial solutions for a European products company


Business Drivers

TomasAbram is a London based software products company, working with a global network of partners to provide software services to customers across UK. The Directors were looking for a partner who could take care of their accounts receivable and payables processes and improve on existing receivable and payables performance. They also wanted a provider with the technical knowledge, commercial nous and ability to look at the different schemes provided by their global network of partners and provider advice on the most economical sourcing option.

Our Solution

When we partnered with the company, the receivables were in a poor shape with average receivable above 90 days . With continuous follow up and incentivising debtors we were able to bring down the average age of receivables to well within the optimal range of 35days. For Payables, we re-engineered the process and now each vendor is paid off based on individual credit terms agreed with them. The re-engineering of these processes helped TomasAbram have a better cash utilisation. We were also able to assist them with their landed cost calculations in respect of the services offered through partners, which helped achieve better pricing.

Business Benefits

The analysis of long outstanding payables and receivables was taking a lot of valuable management time and effort. With these processes outsourced and the improvements we were able to make, management were able to negotiate better terms with both customers and partners. The payable and receivables services we provided enabled the client to manage their cash flows better resulting in increased profitability and reduced risk for the business. The resultant better costing of services allowed them to re-vamp their pricing model and make it more competitive. Partners and customers provide various offers on payment terms and with our real-time research and analysis the client were able to make the most of all the offers based on the business requirements and this also helped the company to be more nimble and react faster to market needs.

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