Case Study: Revolutionizing Accounts Receivable Management for a Leading Media Conglomerate
John Hastings
December 12, 2023
•
5 min read
Client Overview
A major media conglomerate, operating multiple television networks, digital platforms, and radio stations across the United States, faced significant challenges in managing their accounts receivable processes.
The Challenge
The client's accounts receivable department was struggling with:
High Days Sales Outstanding (DSO), averaging 75 days
Manual, time-consuming processes for invoice generation and tracking
Frequent billing errors leading to disputes and delayed payments
Limited visibility into payment statuses and cash flow projections
Inefficient allocation of staff resources, with a large team dedicated to AR management
The Solution: Audience Platform's AR Automation
The media conglomerate partnered with Audience Platform to implement a comprehensive AR automation solution. Key features included:
Automated invoice generation and distribution
Real-time integration with multiple billing systems
AI-powered cash application and reconciliation
Self-service portal for advertisers to view and pay invoices
Advanced analytics and reporting capabilities
Implementation Process
Initial assessment and customization of the AR automation solution
Integration with existing financial systems and data migration
Staff training and change management support
Phased rollout across different business units
Continuous optimization based on performance metrics and feedback
Results
Within 12 months of full implementation, the media conglomerate experienced significant improvements:
Reduced DSO: From 75 days to 45 days, a 40% improvement
Increased Operational Efficiency: 65% reduction in manual AR tasks
Improved Accuracy: Billing errors reduced by 90%
Enhanced Cash Flow Management: Real-time visibility into AR status and projections
Resource Optimization: AR team reduced by 40%, with staff reallocated to strategic initiatives
Client Satisfaction: 30% increase in advertiser satisfaction scores related to billing and payment processes
Key Benefits
Streamlined Processes: Automation eliminated bottlenecks and reduced processing time
Improved Cash Flow: Faster collections and reduced DSO positively impacted working capital
Enhanced Visibility: Real-time dashboards provided actionable insights for financial planning
Scalability: The solution easily accommodated growth without proportional increase in AR staff
Compliance: Improved audit trails and documentation ensured regulatory compliance
Client Testimonial
"Audience Platform's AR automation solution has transformed our financial operations. We've seen dramatic improvements in efficiency, accuracy, and cash flow. The self-service capabilities have also greatly enhanced our relationships with advertisers. This technology has positioned us for continued growth and success in the competitive media landscape." - Chief Financial Officer
Conclusion
By implementing Audience Platform's AR automation solution, the media conglomerate significantly improved its financial operations, reduced costs, and enhanced advertiser relationships. The success of this implementation demonstrates the transformative power of AR automation in the media industry, setting a new standard for financial management efficiency.
Client Overview
A major media conglomerate, operating multiple television networks, digital platforms, and radio stations across the United States, faced significant challenges in managing their accounts receivable processes.
The Challenge
The client's accounts receivable department was struggling with:
High Days Sales Outstanding (DSO), averaging 75 days
Manual, time-consuming processes for invoice generation and tracking
Frequent billing errors leading to disputes and delayed payments
Limited visibility into payment statuses and cash flow projections
Inefficient allocation of staff resources, with a large team dedicated to AR management
The Solution: Audience Platform's AR Automation
The media conglomerate partnered with Audience Platform to implement a comprehensive AR automation solution. Key features included:
Automated invoice generation and distribution
Real-time integration with multiple billing systems
AI-powered cash application and reconciliation
Self-service portal for advertisers to view and pay invoices
Advanced analytics and reporting capabilities
Implementation Process
Initial assessment and customization of the AR automation solution
Integration with existing financial systems and data migration
Staff training and change management support
Phased rollout across different business units
Continuous optimization based on performance metrics and feedback
Results
Within 12 months of full implementation, the media conglomerate experienced significant improvements:
Reduced DSO: From 75 days to 45 days, a 40% improvement
Increased Operational Efficiency: 65% reduction in manual AR tasks
Improved Accuracy: Billing errors reduced by 90%
Enhanced Cash Flow Management: Real-time visibility into AR status and projections
Resource Optimization: AR team reduced by 40%, with staff reallocated to strategic initiatives
Client Satisfaction: 30% increase in advertiser satisfaction scores related to billing and payment processes
Key Benefits
Streamlined Processes: Automation eliminated bottlenecks and reduced processing time
Improved Cash Flow: Faster collections and reduced DSO positively impacted working capital
Enhanced Visibility: Real-time dashboards provided actionable insights for financial planning
Scalability: The solution easily accommodated growth without proportional increase in AR staff
Compliance: Improved audit trails and documentation ensured regulatory compliance
Client Testimonial
"Audience Platform's AR automation solution has transformed our financial operations. We've seen dramatic improvements in efficiency, accuracy, and cash flow. The self-service capabilities have also greatly enhanced our relationships with advertisers. This technology has positioned us for continued growth and success in the competitive media landscape." - Chief Financial Officer
Conclusion
By implementing Audience Platform's AR automation solution, the media conglomerate significantly improved its financial operations, reduced costs, and enhanced advertiser relationships. The success of this implementation demonstrates the transformative power of AR automation in the media industry, setting a new standard for financial management efficiency.
