Case Study: Laticrete boosts cash receipts by $6 million with Versapay

Laticrete boosts cash receipts by $6 million with Versapay

Laticrete, a global manufacturer of tile and stone installation systems, faced significant challenges with its highly manual accounts receivable process. The inefficient system lacked visibility, leading to invoice deliverability issues, misapplied payments, and unfocused customer outreach, which consumed staff time and stifled cash flow. To address this, Laticrete partnered with Versapay to automate its collections and cash application processes.

By implementing Versapay's Collaborative AR and Cash Application solutions, Laticrete automated dunning notices, provided a customer payment portal, and gained real-time visibility into invoice status. This resulted in a dramatic $6 million year-over-year increase in cash receipts for a given month and an 11% reduction in DSO. The automation also led to superior invoice deliverability, a better customer experience, and happier, more efficient employees.

Laticrete