$1.2M of $1.4M overdue, collected in three months.
The problem
Work finished on site, but the status was set late or never, the paperwork was chased backwards, and the invoice went out on the deadline. Invoicing took weeks. $1.4M in receivables sat overdue, and nobody owned collecting it.
What we did
A 90-day Efficiency Sprint, with finance as one of its areas.
- One owner: a dedicated person owns receivables, split into three tracked lanes.
- Reconciled books: a full reconciliation closed out duplicate invoices and credit memos.
- A clear closeout: once the signed completion is in hand, the job is marked complete the same day, the closeout package is assembled, and the invoice goes out within the week.
- A weekly finance sync with leadership.
The result
$1.2M of the $1.4M overdue was collected in three months.