Before Upflow, Invicti's accounts receivable operations heavily relied on manual work.

Sacha Darmanin, Accounts Receivable Manager at Invicti, noted: “We used NetSuite for data management but often transferred data to Excel, adding comments for each customer.  It was a very heavy lift because every week I used to have a meeting with each member of the team and go through the most problematic accounts.”

The lack of a structured and guided process also left team members unsure about their next steps, causing inefficiencies. “ For example, the team used to chase overdue accounts, but they didn't know what the next task should be…whether they should call or if they should reach out internally to someone who's handling the customer, for example.”

Two other metrics Sacha and the team wanted to reduce were DSO and invoices 31+ days overdue. DSO (or Days Sales Outstanding) measures the number of days that a company takes, on average, to collect its accounts receivable. The higher the number, the longer it is taking the company to get paid - and reducing this number was a major focus for Invicti. Added to that, Sacha had identified a need to address overdue invoices that were on their way to becoming bad debt - specifically, those that were over a month overdue.

To address these challenges, Sacha and the team at Invicti looked for a solution and found Upflow.

Upflow significantly improved Invicti’s accounts receivable performance. Payments 31+ days overdue decreased by an impressive 68% between Nov 2023 and Nov 2024.

This improvement directly translated to a 36% reduction in Invicti’s Days Sales Outstanding (DSO), from 69 days in February 2024 to 44 days in December. This accelerated cash flow, providing a significant boost to Invicti’s working capital.

Invicti also introduced automated payments in May 2024, via Upflow’s Stripe integration. Payments received through autopay have now increased 17X, indicating strong potential for future adoption and improved cash flow predictability.

Beyond these key metrics, Upflow streamlined Invicti’s AR processes. Automating emails and task management reduced manual effort, improved response times, and minimized team communication overhead. By implementing distinct workflows for different customer segments, Invicti can now tailor their approach and effectively escalate overdue accounts.

In summary, Upflow has not only improved Invicti’s financial health but also enhanced the efficiency and effectiveness of our AR team, allowing them to focus on more strategic initiatives.

The future focus for Invicti involves further fine-tuning their Accounts Receivable (AR) process, particularly by tightening their credit terms and specific workflows. There’s also interest in fully integrating the customer success team into Upflow to leverage complete visibility for more coordinated efforts.

Invicti's experience underscores the transformative power of adopting a robust solution like Upflow, from optimizing their cash collection processes to fostering improved interdepartmental communication and efficiency.