ManpowerGroup, the world’s workforce expert, creating innovative workforce solutions for more than 65 years with revenue of $20B USD, is using SunGard’s GETPAID in Germany to help unlock working capital and increase cash flow through automation of its collections and dispute management.
The German subsidiary which has led the project has seen a decrease in overdue invoices since going live, and as a result has increased cash flow. “We embarked on an extensive selection process to ensure we were choosing the receivables solution that is most suited to our needs,” says Anastasia Roehrig, Finance Director for ManpowerGroup Germany. “We concluded that SunGard’s AvantGard GETPAID best meets our functional requirements by combining credit risk facilitation with collections management and dispute resolution. Furthermore, we were pleased with the successful implementation, which was on budget and on schedule.”
ManpowerGroup’s project goals included the improvement of cash visibility, increased cash flow and the reduction of bad debt reserves by reducing past due receivables and leveraging the integrated, detailed reporting. By automating, standardizing and centralizing, SunGard’s GETPAID is enabling ManpowerGroup’s credit and collections team to improve its productivity by eliminating many manual tasks. Furthermore, the software has notably increased the team’s capacity, allowing it to manage an increasing volume of collections with current resources.
“With this initiative, ManpowerGroup proves its industry reputation as a trailblazer,” says Matthew White, svp of receivables solutions for SunGard’s AvantGard. “In fact, in a recent global study published by SunGard we found that only 7% of companies are harnessing credit risk to support their collections and drive cash flow.”