Case Study: a large professional services firm improves collections and financial operations with Stonehill

a large professional services firm boosts collections in under 2 months with Stonehill

The Chief Financial Officer of a large professional services firm faced significant challenges after a new ERP system implementation caused a billing backlog and exposed process gaps. The CFO engaged Stonehill for support with a financial workshop, process documentation, an implementation plan, and data analytics to drive a necessary financial transformation.

Stonehill implemented a new collections process with a supporting scorecard to track progress and worked to revamp and document the finance department's internal procedures. This included creating new companywide policies and standard operating procedures. As a result, the firm increased collections and improved cash flow. Stonehill's work provided the tools to identify inefficiencies and focus transformation efforts, ultimately driving greater efficiency and profitability for the organization.