The team size at Staples consisted of 12 people, with 2 people handling Cash Application while the rest managed Credit and Collections. The work division across Staples had 7 collectors managing 900-1000 accounts on an average individually, with aging buckets ranging up to 1000 days and they had to gather information from 20 different Customer Portals.
These accounts comprised mainly multiple parent-child scenarios which further complicated the situation due to lack of visibility across critical accounts and minimal transparency across the ones that were outsourced.
Everything from aging to strategizing, prioritization to call notes was restricted to a single piece of paper
Collectors were stuck with manually tracking missing invoices and updating invoice-related information
from 20 different customer portals leading to lesser productivity.
Staples wanted to break away from manual correspondence with the help of automation to reduce the
daily workload of their analysts, and eliminate the need for making notes or strategies on paper.
They wanted a way to automate low value tasks and incorporate worklists so they could have analysts focus on higher priority or strategic accounts. This would also help to centrally keep track of activity of high-risk and other customers.
They wanted to bring down their DSO and bad debt
Staples is The Work Life Fulfillment Company, helping businesses of all sizes be more productive, connected and inspired — however and wherever they work today. With dedicated account teams, category professionals, innovative brands and a curated product assortment for business, Staples provides customized solutions to help organizations achieve their goals.
Business Supplies and
Our CFO’s objective was the reduction of Bad Debt by 20%, while the management wanted to maintain a similar ROI, with 2 FTEs retiring.
Manager Credit and Collections