Gaviti, an automated receivables collection platform, born to help clients better manage collections as they grow, is helping Spaceback, an advertising technology company, to automate key collections tasks. Together, they have allowed Spaceback to maintain critical relationships throughout the collections process while freeing team members from the unproductive repetitive tasks that stifle finance departments.
Traditionally, finance departments and collections teams rely on spreadsheets and manual tasks to remind, ping, and ultimately collect overdue invoices from clients. Operating in this manner puts pressure across the organization as they struggle to manage cash flow on top of their mountain of manual tasks. Without collections-specific automation tools, such as those experienced by sales and marketing teams, companies are left to deal with growing DSO and spiraling AR. Gaviti’s platform is designed to automate the process, returning cash flow to organizations.
“Traditional methods of collections saw our DSO climb to levels that we as a company were uncomfortable with,” said Anthony Saran, Operations Manager at Spaceback. “As our team quadrupled in size, even more focus was put on cash flow in order to provide our clients with the quality and service they’ve come to expect from us. With Gaviti, we found not only a solution, but a partner who helped us quickly onboard and deploy automations that served our unique needs.”
Collections-specific workflow automations meant that clients would receive automatic emails as they hit new predetermined timing thresholds. The timed emails allowed for finance team members to only get involved in collections once a case was elevated. These true automation tools helped Spaceback maintain a consistent AR, even as the company scaled.
“Market demand continuously reminds us of the need for this critical business operation to be automated,” said Yan Lazarev, Co-founder and CEO of Gaviti. “We work closely with customers to regularly add new features and capabilities to help bolster available cash and reduce their reliance on loans as they wait for clients to pay for services.” One of the critical features is the ability of collection teams to calculate client risk, based on payment history and various other features. “Client data is critical for understanding each client’s risk score,” continued Yan. “For many companies today, it’s the difference between a daily cash flow struggle and the realization of true scale.“