How Gymlib reduced by 80% the time spent on cash collection
Agathe’s challenge when joining Gymlib was to fix the AR situation. After going at it head first, spending tens of hours a week manually chasing down customers and relevant data, she took a step back. That’s when she realized she needed the right stack for the job. With Upflow she finally took control of the company’s cash flow.
Agathe Leprun
Finance Manager
-80%
Time spent collecting cash*
30%
DSO reduction*
*in six months.
Before Upflow
Since Upflow
Couldn't measure KPIs easily
Access to real-time KPIs & analytics.
Collection took 2 hours / day
Collection takes 2 hours / week
No time to build a strategy
Ability to easily iterate and improve collections processes
Mission statement
Founded in 2014, Gymlib helps employees stay healthier and improve their quality of life by providing access to thousands of sports clubs through a single subscription. To date, they serve hundreds of customers in Europe.
FTEs
51-200
Industry
Fitness
HQ location
Paris, France
Stack integrated with Upflow:
API
Real-time analytics to get results quickly
Tracking key financial indicators used to be a nightmare: it relied on extracting data into spreadsheets and was riddled with human errors. That left Agathe with little time to get a holistic view of the problem and help the team improve.
Agathe is now able to drive the company’s collection effort: thanks to dashboards and her easy access to dedicated analytics, she now has an overview of her accounts receivables and can report with accurate and relevant info.
Gymlib saw quick results: their DSO decreased by 30% in 1 month!
We knew there was an AR problem, but couldn’t evaluate its magnitude since we couldn't measure KPIs easily.
From 10 to 2 hours a week dedicated to cash collection
To get collections back on track, Agathe had to spend hours every day getting up to speed. She had to check the customer balances, go through all past communications with them and then, prioritize which ones to focus on and write the appropriate reminders.
With Upflow, her time is now focused on what has the most impact. All she needs to do is go on her dashboard and focus on tracking down the worst payers and iterating on her AR strategy.
How? She set up different collection workflows to make the reminder emails feel familiar and personal and moved a significant subset of them to automatic mode.
I was spending 2 hours a day back then, now it's 2 hours a week.
The right tool for a continuous improvement
When she took over the AR at Gymlib, Agathe was overwhelmed by how much manual work she had to do and how little quality information she had access to.
Since then, she is able to actually drive the collection effort and iterate on the cash collection processes. For example, she regularly refines the workflows within Upflow to keep improving the DSO. Her Upflow CSM has also helped a lot by sharing the relevant best practices.
Agathe’s take on AR
Take a step back and get the right tool. The ROI with Upflow was almost instantaneous.
Keep adapting your workflows as your business grows.
Finance Teams
Say goodbye to Excel, revolutionise your collection processes. Get control of your cash flow.