Having spent more than two decades in leadership roles in Technology and Fintech companies, I had the opportunity to engage with many companies – large to small across various industry segments.

If I have to pick up one common thread while executing my role and listening to CXOs, the discussions will revolve around four topics : Revenue Growth, Cost Reduction, Improve Customer Satisfaction And How To Improve Cashflow.  Managing & growing Cash being the heart of any business, it caught my attention. After studying multiple factors impacting cashflow, I narrowed down on one metric – how to reduce Days Sales Outstanding ( DSO ).

One would think that once a deal is won, half the job is done, but as a SBU head in IBM and later on as CEO at Ingenico ePayments ( formerly TechProcess ), I realized that the one of the toughest part of the business is not just delivery, but also collecting your dues.

Sales, Delivery and Accounts will find it very hard to collaborate and efficiently manage receivables, reconciliation, invoice disputes and many more. There are many companies who end up writing off more than 3% of their revenues due to poor receivables management.

Our traditional approach of managing receivables will involve data over multiple spreadsheets, emails or letters followed by organizing ‘Collection Calls’ towards month ends or every quarter-end,  run campaigns, use carrot and stick approach  with sales folks to collect on time. And each time we would end up telling ourselves, ‘we can do better’.

What disturbed me more was the apparent lack of coordination within our own organisations. Finance would do the right thing by escalating to all concerned, Sales would relay the customer perspective, Operations would say ‘there’s no problem’ and in general, everybody would point fingers at someone else. I used to call it – “Operation successful, patient dead”.

Everyone believes they have done their job, however, net result is: cash not into your bank account. That said, under pressure, multiple people would follow-up with the same individual at the customer site, leading to more irritation in an already frayed relationship, resulting into customer satisfaction issues.

Root cause? Each department in the company ended up looking at receivables from their narrow perspective and not collaborating enough. An important realization I had was that more delays in responding to customer, only makes it more tougher to collect. And God forbid, if the receivable tips over an accounting year! Nobody likes to pay for invoices when the books are already closed.

This set me and Anand (my co-founder), thinking about why we cannot automate the process of collections to create one single collaborative platform for Receivables Management.

And thus, was born the idea of Kapittx a SaaS platform that enables automating Receivables Management.

Kapittx is an innovative Accounts Receivable management solution helping finance team within companies to collaborate across functions to manage receivables more efficiently and get timely payments from clients. The software platform enables real time accounts receivables, cash forecast and analytics for companies to gain insights into customer behavior and make customers happy.

Kapittx ensures streamlining of daily payment collection efforts by taking all invoices and supporting documents and presenting then to the right customer contacts before their due dates. The solution comes with an algorithm that automates payment collection reminders to customers through personalized interactions.

By using Kapittx, CXOs can easily access the system and view all the information he or she needs to see – Payor Trends, Analytics, Invoices Performance, Disputes and AR Team efficiency among others. This visibility allows him or her make better decisions and actions on how to improve account receivables, bring down outstanding receivables and DSO, and further accelerate business growth.

I believe Kapittx is a great tool to improve cashflow.