Peak Cashflow saves time and money by going digital

The Team at Peak Cashflow faced two core issues, brought on by successful business driving year-on-year growth, and the changing demands of an increasingly digital-first audience.

1. A rising volume of statements to generate, in a variety of layouts, including different components for different clients. The process required at least three members of staff to work at least one full day each month to generate and send these.
2. Customers were demanding statements by email, not post.

The vast majority of statements were sent out by post, which equated to immense print and postage costs, as well as the time to process these. The few that had to be sent by email were manually scanned and then emailed.

Aware that their existing statement production and distribution process was inefficient, Peak Cashflow looked to automate this to save time and cost.

However, most automation systems work well with just one standardized account system input, but Peak Cashflow’s data comes from a third party called HPD. Integrating with this and generating a range of different statement layouts, with different content for different clients, posed the biggest challenge when selecting a solution partner.

Moving away from the 1980’s design and layout for statements also presented Peak Cashflow with an opportunity to communicate with customers more effectively and improve perception of their clients’ brands.

Peak Cashflow has been a Corcentric client since 2016, and have seen a saving in excess of 15 percent on invoicing costs. Indeed, they experienced a 10 percent saving after just 16 weeks of working with Corcentric.

Savings due to reduction in print and postage are one factor, but freeing up the team from the laborious tasks of manually producing and distributing statements has made for more efficient processes at Peak Cashflow.

The implementation process was completed within 2 months, requiring minimal input from Peak Cashflow’s internal IT team. Rigorous testing ensured the solution was refined for all eventualities, and hit the launch date comfortably.

Peak Cashflow were especially pleased with how Corcentric worked during the COVID-19 lockdowns, Jim said “If I’d had a team doing post and envelopes then that would have been a cost to bear, but Corcentric is a variable cost based on how much we send. That flexibility and the ability to easily switch from post to electronic delivery, supporting delivery preferences in lockdown, have been a great benefit to us.”