Case Study: Veriphy reduces overdue invoices from 20% to 3% and saves 2–3 days a month with GoCardless

Convenience for customers, overdue invoices reduced from 20% to 3% and 2-3 days a month in time savings

Veriphy, a provider of AML, company and people checks serving around 10,000 customers, was struggling with varied billing volumes, manual reconciliation and high late payments — about 20% of invoices were overdue. Customers wanted the convenience of Direct Debit and Veriphy needed a cost-effective, simple solution that integrated with its billing platform KashFlow, so the company turned to GoCardless.

Veriphy implemented GoCardless (integrated with KashFlow) to take Direct Debit payments; roughly a third of invoices are now collected this way. GoCardless reduced overdue invoices from 20% to 3%, enabled automatic reconciliation, delivered cost savings versus other providers and card payments, and saved the team roughly 2–3 days a month in reconciliation and chasing payments — with positive feedback from customers.

Veriphy

George Ford

Director