Associated Press
CVS was retained to assist the internal collection department in the processing of "slow paying" accounts. Working from off site, CVS, through our business unit, contacted AP members (Associated Press is an organization of members) to determine the problems and then assist them with issues affecting payment. A process was set up to address misapplied payments, address disputes and obtain copies of outstanding invoices in a timely manner. Per the assistant treasurer, "It was as excellent situation for us. We got clear of a lot of volume that was causing us a backlog." We were able to reduce the DSO by 12 days, in effect creating a reduction in DSO levels by 16%.

National Communications Company
CVS was retained by the client to set up and run an offsite accounts receivable department to manage the process of customer retention, equipment loss and collections. CVS was able to help the company achieve a 34% reduction in equipment loss, while increasing customer retention by 28%.

National Cable Installer
CVS was retained by the country's largest residential cable installation and maintenance company to manage the reconciliation/collection of an acquired $25 million portfolio, as well as, to assist management in improving the operations of the accounts receivable department.

International Equipment Manufacturer
CVS was retained by an international equipment manufacturer to assist them in reducing the levels of their aged receivables. Under our engagement, we established a new credit and collection policy, created new credit application forms and support documents and set up an off-site customer service/collections call center. Over a 22 month period, CVS achieved the following results:

• Unapplied credits decreased from $1,233,803 to $127,729
• Invoices aged over 360 days decreased from 16% to 2%
• Invoices aged 181-360 days decreased from 8% to 4%
• Invoices aged 91-180 days decreased from 11% to 5.3%
• Invoices aged 61-90 days decreased from 7% to 4%
• Invoices aged from 31-60 days decreased from 4% to 3%
• Invoices aged 1-30 days increased from 25% to 39.3%
• Current invoices increased from 29% to 42.4%