HAMILTON, N.J., March 2, 2017 /PRNewswire/ -- Billtrust, the leader in Payment Cycle Management, today announced its newest "Billtrust Rockstar", a formal acknowledgment of financial professionals who are leading a transformation of the invoice-to-cash process within their organizations.
Candace Hoover, Billing Administrator at the Manheim Area Water and Sewer Authority (MAWSA), earned the Billtrust Rockstar designation after being nominated by Deb Tobias, Financial Controller at MAWSA. MAWSA is a small water and wastewater Authority supplying approximately 3,000 water and 2,300 wastewater customers in the Manheim area. MAWSA's current customer water demand is roughly 450,000 gallons of water per day.
Among Ms.Hoover's accomplishments:
- Days Sales Outstanding (DSO) reduction: Over the past year, DSO has dropped by 10.8 days, which significantly increased cash flow and reduced open balances.
- eAdoption: Through best practices, Ms. Hoover overachieved her goal of 25% for increasing electronic invoicing adoption. Ms. Hoover reached 31%.
- Improved efficiency: Although not a large percentage of her market, the customers who pay their invoices electronically reduce her processing time by 30%.
The overall process efficiency for the AR department has been significant. MAWSA's customer base is divided into three wards, and prior to working with Billtrust, Ms. Hoover would spend one week generating invoices for just a single ward. To accommodate the time it took to manage the workload, they billed quarterly. This was a highly manual process that slowed the flow of incoming cash.
Once Billtrust's automation of the invoice-to-cash process was implemented, Ms. Hoover moved to monthly billing, as she could service all three wards in a single week. The efficiency of the process with Billtrust has allowed Ms. Hoover to create new, predictable processes that have more of her customers paying on time. These process improvements help Ms. Hoover spend more time focused on collections and special projects that advance the smooth operations of MAWSA.
"I genuinely appreciate the working relationship that Billtrust has built with MAWSA and their willingness to provide best practices, share tips and tools, and provide support groups," said Ms. Hoover. "Programs like Backstage Pass [a client-only user group] and the open forum in Client Connect [the online portal for managing invoices] help Billtrust transcend from the typical customer-client relationship into an active participant in our customer service team."
The Billtrust Rockstar designation was created to recognize individuals who are visionaries and high achievers among their accounts receivables peers. The primary criteria for receiving the designation are improving cash flow, lowering DSO, reducing organizational costs, and increasing customer satisfaction.
"Candace's commitment to doing things in the most cost effective, efficient and joyful manner does not go unnoticed. Her dedication to our town and customers is at such a high level, that I nominated her for Rockstar status," said Ms. Tobias.
AR professionals who achieve the Billtrust Rockstar designation are featured in industry publications and honored in the "Hall of Fame" at Billtrust's Hamilton, New Jersey, headquarters. They are also recognized at the annual client conference Billtrust Connect.
"Billtrust is pleased to recognize individuals who demonstrate leadership and innovation in their profession," said Flint Lane, Billtrust CEO and President. "The Billtrust Rockstar designation showcases Ms. Hoover's hard work and stellar results to her industry peers."
Billtrust encourages coworkers and colleagues to submit the names of one or more potential Billtrust Rockstars within their organization for consideration. Nominations are considered on a rolling basis. For more information about the designation, including judging criteria and how to nominate an individual for the honor, visit www.billtrust.com/clientsuccess.
About Billtrust: Billtrust accelerates cash flow by automating invoice delivery, invoice payment, and cash application. Companies can improve operational efficiency throughout the invoice-to-cash process with electronic invoicing and payments in a flexible, cloud-based solution. Finance executives and AR specialists love and recommend Quantum, Billtrust's payment cycle management solution, for the remarkable cost savings, ease-of-use, and improved customer satisfaction rates.
Want to know what Billtrust can do for you? See how these clients achieved stellar results: https://www.billtrust.com/clients/testimonials