How Adikteev crushed late payments: 33% fewer invoices 61+ days overdue in under a year
Adikteev, an adtech company specialized in user retention and growing in-app revenue for their customers, faced challenges maintaining consistent focus on cash collection. Their DSO (Days Sales Outstanding) sat at an unhealthy 54 days, hindering their ability to invest and grow.
87%
24%
33%
Adikteev: a returning Upflow customer
Adikteev initially ran their accounts receivable process through Upflow from 2019 to 2022 and saw positive results. After switching to a new billing tool (Sellsy), which featured integrated reminders, they decided to stop using Upflow thinking they could use the functionality in their new billing tool instead.
Soon, however, they encountered limitations in data insights and workflow customization. Realizing the shortcomings, Adikteev re-partnered with Upflow in June 2023.
At that time Adikteev was facing the following challenges:
- Manual workflows and lack of automation: Adikteev’s reliance on manual processes for collection efforts made it difficult to ensure consistent follow-up and prioritize tasks effectively. As Guillaume Schwoob, Finance Manager at Adikteev, states, “without any automated process on cash collection, it was pretty tough to stay focused on the things that matter for Adikteev.”
- Limited insights and inconsistent follow-up: Guillaume notes that Sellsy lacked the invoicing collections-focused analytics and customizable workflows offered by Upflow. This made it difficult to identify trends, prioritize collection efforts, and ensure consistent follow-up with clients.
- Inefficient cash flow management: Adikteev’s business model, with their own net 30 payment terms coupled with the same for the majority of their suppliers, meant a focus on efficient cash flow management was needed. Delays in client payments directly impacted their ability to invest and grow. Guillaume highlights this point, saying “longer payment delays for Adikteev means an inefficient cash collection. And that leads to not being able to invest as we’d like to. So reducing our DSO is a key priority.”
- DSO actually represents big sums of money: Guillaume notes that the DSO figure is not just about the number of days: “For us, even one day of DSO means large amount of cash. So reducing it by five days could lead to several million dollars of cash available. So that’s a really huge impact that you don’t really grasp when you only look at the DSO level.”
In essence, the lack of automation, limited data insights, and inconsistent follow-up hampered Adikteev’s ability to optimize their cash collection process.
Upflow drives major improvement in cash flow
The impact of Upflow’s re-implementation was swift and significant:
“We have two types of clients: direct and agencies. We noticed that with agencies, payment delays are at least twice as high. So with them we have now adapted our messaging to be a little pushier before sending the invoice.”
“The integration with Sellsy works perfectly well – no issues since we began using Upflow.”
Guillaume Schwoob
Finance Manager
