Biotech firm needs to engineer a solution to close order-to-cash performance gap ​

Picture this...

You’re a global manufacturer of antibody reagents, kits, and services that has nearly doubled your revenue following the acquisition of an adjacent provider. However, your combined organization has experienced significant staff turnover and struggled to improve working capital performance given a lack of integrated processes, systems, and metrics. ​

You turn to Accordion.

We partner with your team to diagnose your current state operations and determine the root causes impacting cash conversion efficiency. Given your upcoming debt obligations, we accelerate the assessment phase and focus on rapid solution design to achieve nearer-term results. More specifically, we: ​

• Identify a 28-day DSO performance gap and develop a prioritized improvement plan, including quick wins, to achieve sustainable results.​
• Focus on risk and credit management, payment processing, collections, and master data integrity. ​
• Advise your technology team on design and implementation of financial systems to automate invoicing, customer payments, and cash application. ​
• Provide interim CFO leadership to enhance cash flow forecasting and management reporting, with a parallel team focused on demand planning and product management enhancement.​

Your value is enhanced.

You achieve quick wins and set a plan of action for longer-term process improvements, including:​

• A 17% reduction in overdue account balances.​
• A shift of 1,000+ smaller-dollar, high-volume monthly customer orders to prepay from standard payment terms.​
• An application of over $500k in unallocated cash. ​
• A revised collections and reporting approach based on customer segmentation and value attribution, and a redesigned customer onboarding process.​