How Satago improved a leading recruitment company's cashflow within a month
Number of Employees: 60 employees
Year of inception: 2011
Founded in 2011, Gemini People is a fast growing recruitment company that specialises in recruitment solutions for the advertising, digital, fashion and media industry. The company belongs to the Hamilton Bradshaw Group, which was founded by Dragons Den investor James Caan.
What they used before Satago
Before Gemini People started using Satago, their credit control managers used Excel spreadsheets for their chasing history, which included extracts from emails and internal staff notes. As an accounting software solution they use Xero. Through Xero they used to send invoice statements manually, as Xero doesn’t have an automated process in place, while their credit control managers wrote and sent invoice reminders and statements manually. Their average debtor days were at around 52 days.
What they were looking for
Gemini People approached us as they were looking for a credit control tool to streamline their processes by automating certain aspects of the day-to-day routine of their credit controllers. Additionally, they required an advanced accounts receivable platform to keep track of their credit control performance.
How do they use Satago
Every morning, a credit control manager does the cash allocation and reconciles their Xero accounts before 10am. After that, they push a manual import in Satago for an up-to-date overview on their accounts receivable. Gemini People makes use of the primary functionalities such as sending invoice reminders and statements.
"We set up our reminder and statement templates, customised the days when we wanted them to be sent and enabled the chasing - that’s it. We could literally sit back and see the first responses and payments coming in shortly after."
Priya Patel, Head of Credit Control
Also, they replaced their Excel spreadsheets with Satago’s internal comment and integrated client response system. Any replies from clients are directly fed into Satago, which makes extracting information from email correspondences redundant. In weekly meetings with the Financial Director, Satago is used to provide quick access to the chasing history and to show the progress of their chasing process. Satago’s aged debtor reports also allows their credit control managers to see at a glance which clients need special attention and which need a more persistent follow up.
What impact did Satago have on Gemini People
Gemini People’s credit control managers don't need to spend time on sending invoice statements and reminders to their clients anymore. "By automating the process, I can spend more time on reaching out to my clients that need a follow up by phone" said Priya, Head of Credit Control. Within less than a month, they have decreased their Debtor Days (DD) by 21%.