Business Case Peninsula, decrease in DSO
Peninsula helps small businesses worldwide, but how?
Peninsula Consisting of 13 companies worldwide, Peninsula has been providing professional services to small businesses across the UK since 1983. Originally specialising in employment law and HR, Peninsula has since expanded to cover health, safety management, insurance and employee wellbeing. Peninsula offers small businesses peace of mind and allows its clients to focus on growing their business, while it looks after the rest. Initially starting out with just a handful of people in a room, Peninsula has grown massively in the last 36 years. They have expanded their operations beyond the UK to now include Ireland, Australia, New Zealand and Canada.
The added value of credit management software
Carl Lancaster has been Group Head of Collections at Peninsula for the last 14 years. In the past five years, Peninsula has acquired and absorbed a number of companies worldwide. Carl Lancaster explained: “As we grew, it became clear that our existing credit management systems weren’t able to cope with the growing volume of transactions and the influx of business we were experiencing as a result of the acquisitions.” Based on this, Peninsula decided it was time to look for a new credit management solution. Peninsula invited the top five credit management software companies to pitch their solutions to decide which would be best suited to their business. Following tender negotiations, the decision was made to adopt Onguard’s CreditManager.
“We have realised a number of benefits since implementing CreditManager in two of our companies. Our cash flow has increased by about 20%. Also, we have a high volume of clients with about 100,000 customers over the client base and the new system has enabled us to communicate with these customers as and when we want to. Before, all the activity was manual, so we have experienced a huge amount of time-saving as a result of the new software.
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