To say the accounts receivable (AR) collection process at Sony Pictures Entertainment (SPE) was in need of help a few years ago would be an understatement. When SPE’s Vice President of Customer Finance, Michael Schillo, arrived at the company in 2006, they had $250 million of outstanding customer deduction balances, mountains of paper everywhere, and a lack of operational metrics. The three primary elements SPE’s quote to cash process needed were:
1. A more effective promotional rebates process
2. Speeding and reconciling returns
3. An automated deduction workflow
DataServ’s quote to cash solution helped streamline everything for SPE and today the company has less than $25 million in outstanding invoice balances while collection time is down 44% and labor costs are down 45%.
At the Institute of Financial Operations’ annual Fusion conference, which takes place in Dallas from May 5-8, Schillo will discuss all the benefits of DataServ’s quote to cash solution in an educational breakout session that will be held on May 7 at 3:15 pm. Schillo will be joined by DataServ Founder/CEO Jeff Haller to elaborate on the biggest benefits SPE has seen from DataServ’s automated quote to cash process, which include having all sales cycle documentation instantly available and exportable to clients.
You can download a copy of this presentation here.