$25M+ / year
Discover how LED Supply Co. cut DSO by 30% and automated collections across hundreds of customers.
For over a decade, LED Supply Co. has been on a mission to distribute advanced LED lighting, affordably, with great customer service. Once a small company based in the founder’s living room, it now boasts a 17,000 sq. foot headquarters, employees across five states, and distributes fixtures for 250 manufacturers.
Naturally, the company’s growth surge has some teams catching up. CFO Dory Pluger recalls a time pouring over outstanding invoice reports with her collections team. The business boom from construction projects during the pandemic was great–but added thousands of outstanding invoices from hundreds of customers. Like at most companies, legacy ERP and accounting software made inefficient AR follow-up worse.
Software constraints exacerbated the issue: Some of LED Supply Co.'s customers had up to 50 invoices outstanding. Staff had to separately download and attach each invoice to a manually generated email. The piecemeal process (which included tracking in Google Sheets) didn’t deliver. LED Supply Co. also couldn’t offer customers an online payment option–shrinking profit per account. Although the process was industry-standard, Pluger knew automated collections were within reach.
“My staff would spend half their week downloading invoices and emailing past-due clients,” Pluger shares. “The process was so time-intensive that we went ‘elephant hunting’–that is, only following up on the biggest invoices.”
The real test came when the COO wanted to test drive Payference. His first response: “This is amazing, can we just use this for all of our cash flow and collections management?’”, recalls Pluger.
Team leadership appreciates the simple, clear, visual reporting on everything from DSO and bad debt to sales ratio and payment trends by customer.
According to Pluger, Payference isn’t just easier, it also delivers meaningful ROI. Before Payference, LED Supply Co.’s DSO was 65. Today, it is under 50 – improving cash flow
“CEO Prashant Kumar called two weeks later and said they were tested and good-to-go. Partnership like this is unheard of.”