Reducing 90+ Days Receivables by 30% at Leading HVAC Distributor
Lack of support from previous vendor led Gemaire to look for alternatives.
Gemaire is a subsidiary of Watsco, Inc., the largest independent HVAC/R distribution company in the world. Founded in 1969, today Gemaire proudly distributes heating, air conditioning, refrigeration equipment, parts, and supplies.
In distribution, sales is everything! Gemaire has improved its sales function by transforming its accounts receivable and payments process. By replacing an old invoicing and payments system with a solution that drives online payment adoption, provides an easy channel to communicate with customers, and unlocks data to help make strategic decisions, Gemaire has reduced its 90+ days receivables by 30%. In times of economic uncertainty, the ability for customers to make payments online from wherever they are working helps to ensure business continuity and has positioned Gemaire for long-lasting success.
The Starting Point
With 65% of customers still receiving printed invoices and only one online payment method available, Gemaire’s AR process was manual, paper-based and time intensive. Onboarding new customers onto the platform was challenging and transitioning COD customers into long-term, lucrative term accounts was a burden. With over 8,000 active customers and only phone and email available to reach them, Gemaire was struggling to effectively communicate with customers at scale. Little to no in-platform reporting options were available, which resulted in a total lack of visibility into customer payment behavior and an inability to pull the reports required by the CFO. Gemaire wasn’t getting what it needed from its current provider to effectively serve its customers so with that, and a drive from its parent company to transform legacy processes, Gemaire started to look for a better solution.
For more than 10 years, Gemaire had an AR solution in place but, due to a lack of client support, the tool went underutilised and un-optimised.
Gemaire implemented Versapay ARC®, a cloud-based solution that automates the entire invoice-to-cash process. With ARC, Gemaire streamlined its AR process, improved communication with its customers, enabled online payment acceptance in the form of ACH, debit and credit card and gained visibility and control over its receivables.
“The Versapay team is a great team that will work with you to the nth degree to ensure your success. And that was what we needed. We needed a partner, and we got that in Versapay.”
John Rebescher, Director of Credit
By utilizing ARC’s single-sign-on (SSO) functionality, customers can seamlessly move between the Gemaire ecommerce and payments platforms. Onboarding new customers is now easy and convenient, enabling Gemaire to deliver an exceptional customer experience from the first interaction.
“Since implementing Versapay, we can see our collections effort get better and better each month. It’s now become a one stop shop for our customers and as a result, we are realizing better cash flow from it.”
John Rebescher, Director of Credit
Communicating to Gemaires’ 8,000+ customers is a breeze using ARC’s notification and messaging center. When the COVID-19 pandemic struck and left many businesses working away from their offices, Gemaire was able to send out messages to all customers, reaching them wherever they were working.
With Versapay ARC, Gemaire is creating a one stop shop for its customers that is not only improving the experience for its customers but improving collections efforts, sales, and cashflow.