Case Study

State Systems Protects Cash Flow with Lockstep Receivables

State Systems Protects Cash Flow with Lockstep Receivables

Pages 2 Pages

State Systems, a facilities services provider, struggled with managing collections manually, relying on two employees to handle 5,000 customers' balances. They implemented rules to manage workloads but still faced inefficiencies, such as costly "folding parties" to send statements. To improve the process, CFO Logan Hale chose Lockstep Receivables over outsourcing. With automation, they reduced days sales outstanding (DSO) by 24%, cut working hours by 80 per month, and allowed customers to self-service through a portal. This shift transformed their cash flow and improved customer interactions, as statements are now sent more frequently and tailored to specific customer needs.

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