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Early Payment Discounts

It can be quite extraordinary how a relatively simple-to-solve administrative process can enhance and improve an organisation’s efficiency, and in this case, a huge multi-national company was losing hundreds of thousands of dollars on account of a less-than-efficient invoice processing system. Taking just a short period of time, and working entirely remotely, lean6-sigma solved the problem and improved the company’s financial well-being.

The Challenge

Pay invoices before the due date and receive a discount, but process deficiencies result in annual missed opportunities of $1.5M. Determine why invoices are not paid and claim cash revenue.

The Results

  • Missed revenue of $1.5M / yr reduced to £325K.
  • Root cause identified as lack of scanning capacity.
  • Opportunity delivered as three day Kaizen event.
  • Global standard created.
£1.2M EBIT

Chris is professional and competent, he has an ability to connect and bring on board people at all levels of the organisation. He has a very practical “willing to do” attitude, he was always very well prepared and organised for any meetings I had with him.

Vice President

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Early Payment Discounts

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