Reminders in Italian. Paid in 30 days, not 60.
A trading house with good buyers, slow paperwork, and money that arrived a month later than it should.
Paid after 60 days, chased by nobody.
Invoices went out days after delivery, because someone first had to collect the signed CMR. Late payers were chased when someone had time, which was rarely.
Money came in after 60 days on average, and the business carried the gap.
The buyers were good customers. They paid in the end, nearly always. But “in the end” was costing the business a month of cash, every month, and a growing credit line at the bank to cover it.
Chasing felt awkward, too. Nobody wanted to call a long-standing buyer about a late invoice, so it was left until it was very late.
The delay started before the invoice.
The map showed four days between delivery and invoice, just waiting for paperwork. After that, reminders went out late or not at all, and in English to buyers who answered in Italian.
- Delivery to invoice4 days
- Payment terms30 days
- Paid late26 days
The steps we changed first
The map made one thing obvious: the four days before the invoice were pure waiting. The goods were delivered, the CMR was signed, and the invoice simply sat in a queue until someone had a free afternoon.
The late payments were quieter. Reminders went out in English to buyers who wrote in Italian, and they were easy to put aside.
Invoice sooner, remind on time, see risk early.
We tackled the waiting first, then the reminders, then the risk. Each change was small, and each one was easy to see in the numbers.
- The invoice goes out the moment the CMR is signed. No more waiting for paperwork.BOSS
- Reminders go out on the due date, in the buyer’s language, once someone on the team approves them.Ledgvero
- Each buyer’s risk, with the reason, before anyone loads the next truck.Ledgvero
The reminders are polite and short, written in the buyer’s language, and nobody sends them without a look. Finance approves each one with a click, usually in a few seconds.
When a buyer starts to slow down, the team sees it early, with the reason beside it, and can decide before the next truck is loaded.
A month of cash, back.
Most buyers now pay within days of the first reminder. The business stopped carrying a month of other people’s debt.
- Days to get paid
6030- Invoice sent
4 daysSame day
Cash came in a month sooner, and the credit line at the bank stopped growing. Conversations with buyers got easier too, because a friendly reminder on the due date is much less awkward than a call two months later.
Finance now spends its time on the few buyers who need attention, instead of on every invoice.
