Earthlite Works Out Collections Process Kinks with Altair® Monarch®

Challenge

Given its diverse and distributed customer base, Earthlite needed an accurate and efficient way to manage its accounts receivable and accounts payable reporting processes. The AR team of three was downloading 500-page PDF reports and manually pouring over the data to identify accounts where collections were needed. The static report structure prevented Earthlite from being able to sort and organize the information or perform any sort of data analysis. The reporting process took each team member approximately six hours every month to complete. Not only was this a time-consuming and resource-intensive method, it was also more susceptible to error and had the potential to cause delays in the collections process.

Solution

Earthlite turned to Monarch to help simplify data preparation and expedite analysis. Accounts receivable information is now automatically exported into a tabular structure, equipping Earthlite with the ability to sort, filter and perform analysis of any kind. Because the reporting and analysis process has been dramatically simplified and expedited, what took a team of three an average of 18 hours each month to complete, now takes one employee one hour to finish. As a result, the company is now saving approximately 200 hours per year.

Results

“Accounts receivable reporting used to take us forever, and it was always such a painstaking process,” said Mark Loy, IT administrator at Earthlite. “Now, the hours we spend on collections is greatly reduced, and reporting and analysis is a million times easier. Additionally, Monarch has enabled us to free up our employees to focus on other pressing business tasks. The technological and business benefits of using this platform have been invaluable.”

Because of the tremendous return on investment Earthlite is seeing in its accounts receivable reporting and the collections process, the company is planning to roll out Monarch to other areas of the business as well. Most immediate, the company would like to leverage Monarch for medical bill and insurance analysis, as well as for standard HR functions.