Problem statement
Client is a provider of bandwidth to customers many of them being banks, utilities and enterprises. Most of the time this facility is used as a back up line and hence the propensity to pay on time is lower. Further, constant flux in the financial services industry in India over the years (consolidation, branch closures, branch re-org) meant constant change in the paying authority. This was made harder with the constant change resources at the customer’s end. There were also multiple issues with stability and usage of the facility.
Solution provided
TanServ worked on mapping the entire organisation structure at the customers places with clear lines on payment hierarchy. Regular track of the changes in the org structure coupled with tracking the changes in manpower ensured we were able to provide on time invoice, right the first time resulting in timely payments.
Results
Transparency in the books led to better understanding of the schemes and hence better off take by dealers. Fewer credit blocks or bounced cheques led to better overall business.
