How HTDS improved cash flow by reducing their Day Sales Outstanding by 25% and freed up millions of euros

Alain Coudert, CFO at HTDS had a major challenge: to effectively manage the unpaid invoices of an international technology company with multiple clients. He shares how he improved cash flow by transitioning from a complex, rigid process to a simple, intuitive, cost-effective solution.

HTDS: International technology experts

HTDS has been distributing and maintaining hi-tech detection systems internationally for over 20 years. HTDS works with large companies in 40+ countries, the company employs more than 400 employees worldwide.

Time-consuming, hard-to-manage payment reminders

When he arrived at HTDS in 2016, Alain discovered a time-consuming manual payment reminder system. “The payment reminder emails in our accountancy tool, Sage, were too rigid, there was no option to customise them. It cost us a lot of time and energy.”. This lack of flexibility caused lengthy payment terms (Day Sales Outstanding stood at 200 days) and had a negative effect on the company’s cash flow.

A solution to simplify and automate invoice payment reminders

A Clearnox demo became a turning point. “As soon as I saw the intuitive interface and how easily it could connect to Sage, I knew it was exactly what we needed.” Integration with Sage was quick and hassle-free, meaning we could start using the tool immediately. Clearnox’s simplicity made it easy to use on a daily basis: “I could send payment reminders directly from my sofa, while watching TV. I’m not even joking!”

Day Sales Outstanding reduced by 25% and cash flow significantly improved

The results were immediate and impressive. HTDS reduced its Day Sales Outstanding by 25%. “That’s a 5-7% improved cash flow, in other words, several million euros.” With the transparency offered by the Clearnox dashboard, relationships between our sales and accountancy teams have improved considerably, making dispute resolution quicker and increasing client satisfaction.

An essential tool with seamless integration

Today Clearnox is an integral part of our internal processes at HTDS. “It’s become indispensable, fully integrated into the way we work. I’m happy to recommend Clearnox, even for small companies. It offers huge savings in both time and money and is so easy to use. When cash flow stops, everything grinds to a halt. Automated payment reminders aren’t a choice, they’re a necessity.“

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