m-hance a UK-based provider of core solutions to the mid-market has been selected by Fenchurch Environmental Group, a manufacturer of air filtration products and solutions to provide an integrated finance and payroll system, having outgrown its previous accounting solution. This solution will interface into Fenchurch’s existing Oracle-based ERP application, with the aim to significantly improve cash collection and reduce manual administration by several days each month.
David Townsend, Financial Controller at Fenchurch Environmental Group, explains, “Our outdated system was holding us back as the Group continued to grow. We therefore sought an intuitive system that could allow us to set automatic follow-up actions and diary-based reminders to enable us to speed-up our processes and reduce bad debt expense.”
It is hoped that m-hance’s integrated system will enable Fenchurch to automate a range of manual-based collection processes to boost its cash flow. The system’s ability to track debtor activities, add notes and calendar-based reminders, whilst also providing customisable information views will ensure that overdue customers can be targeted more effectively. In addition, management reporting will also be more relevant, accurate and streamlined.
David comments, “m-hance’s system will enable us to markedly improve our collection processes and manage bad debts more effectively. We anticipate that this will assist us to significantly reduce our percentage values of overdue invoices, considerably increasing cash flow and giving us greater financial control. The advanced functionality of m-hance’s system will also free-up several days each month that the finance department was previously spending manually consolidating and inputting data into multiple spreadsheets for management reporting purposes. This will improve finance’s ability to contribute more to the business’s future success by allowing them to focus solely on core strategic activities.”