Morningstar + CIAL: Reduce 120+ day delinquencies to 75% with D&B Finance Analytics
With almost 10,000 customers around the world, Morningstar needed an accounts receivable solution that can serve its global needs.
Receivables Intelligence, a feature of D&B Finance Analytics, has helped streamline the company's receivables process, and the automated reminders have been especially helpful in standardizing the process globally.
Outcomes
75% reduction in delinquencies of more than 120 days
Automation of accountcollection
Customized tailored workflows
Company History
Morningstar is a U.S. company that provides financial services globally, offering a variety of research and investment management services. It is present in 32 countries, has more than 12,000 employees, and is the global benchmark in asset management.
Pain Point
Like many companies, Morningstar still maintained a fairly manual collections process. The two-person team relied on a spreadsheet to keep track of past-due accounts, and an accounts receivable specialist spent much of his time emailing clients one by one.
We rely heavily on the automated reminders – especially with our shared service center. This process has really helped us, given there is really no way to manually follow up on 3,000 invoices.
Rachel Hancock
Accounts Receivable Collections Supervisor of Morningstar
Compared with the complexities associated with some of our other enterprise solutions, such as our CRM and ERP, Receivables Intelligence was much easier to implement, and this is an easy tool to train new employees on.
Rachel Hancock
Accounts Receivable Collections Supervisor of Morningstar
Solution
During implementation, the Dun & Bradstreet team worked with Morningstar to create tailored workflows that made the most sense for each business unit and subsidiary in each country – and each customer.
Moving from a manual process with spreadsheets to one system driven by automation has been a time saver for Morningstar.
Results
Receivables Intelligence has even helped with cash forecasting.
The platform has extensive reporting and readily accessible dashboards that include cash flow projections, and Morningstar can also easily see what payments are promised daily.
The system has the flexibility to build out long-term cash projections using payment data history.
75% reduction in delinquencies of more than 120 days
Automation of accountcollection
Customized tailored workflows
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