Rocket Industrial implemented VersaPay ARC®, a cloud-based solution that automates the entire invoice-to-cash process: presentment, collaboration, collections, payments and cash application. With ARC, Rocket Industrial has instant access to customer data and key metrics, such as DSO, anytime and from anywhere. Weekly emails to the sales team now take two minutes instead of hours and customer statements happen automatically, requiring none of the AR Manager’s time.
Where there use to be tension, ARC has helped Rocket Industrial’s finance team build a true partnership with its sales team by providing access to customer accounts and facilitating communication.
One area of efficiency realized by implementing ARC that surprised even the Finance Director was how much time had previously been spent chasing small customers. With ARC, human intervention is eliminated from the process as small customers can set-up autopay.
When comparing ARC to the alternative solution of hiring an additional team member; ARC is always “on”, it never takes a sick day, it costs less per year than an FTE, it improves visibility and flexibility and, most importantly, it allows Rocket Industrial to scale.