WP Engine cuts average days delinquent 37% with Tesorio
Results with Tesorio include:
- Cut average days delinquent by 37%
- Reduced time spent on dunning by 90%
- Improved team collaboration with workspaces
- Doubled collections team productivity
WP Engine is the WordPress Digital Experience Platform that gives companies of all sizes the agility, performance, intelligence, and integrations they need to drive their business forward faster. WPEngine’s tech innovation and team of WordPress experts are trusted by over 120,000 companies across 150 countries, helping brands create world-class digital experiences.
WP Engine is a high growth company with hundreds of thousands of accounts, but a small Accounts Receivable (AR) team. To fund growth, WP Engine needed to scale up collections efforts to keep cash flowing, and to increase collections efficiency. WP Engine’s collections relied on manual processes run out of a customer support ticketing system that was not designed for AR. This was tedious, time consuming, and inefficient. “It was not pleasant and required so many touches,” says Tara Kelly, Order to Cash Operations Lead at WP Engine.
This reliance on manual processes also made it hard for the team to share assignments, collaborate, or maintain unified records of account status. Further, these manual processes made it difficult for WP Engine to create team workspaces or automate collections processes such as dunning. “We basically had a bunch of web pages bookmarked and it was hard to hand off jobs. I was almost afraid to go on vacation,” says Kelly. To create a better customer experience, WP Engine wanted to cleanly segment collections by account size. Says Kelly, “Everyone was receiving the same dunning campaigns. We thought we could improve our messaging and results with segmentation.”
"We reduced our Average Days Delinquent by more than 30%, thanks to Tesorio.”
To summarize, WP Engine wanted to:
- Collect cash faster and more efficiently
- Spend less time on manual processes
- Easily create team workspaces
- Apply granular customer segmentation to collections processes
Solutions and results
WP Engine evaluated a number of NetSuite-ready Accounts Receivable Automation products and decided to try Tesorio. The Tesorio support team quickly integrated WP Engine’s ERP with Tesorio’s collections automation engine; Tesorio handled all the data extraction and field mapping automatically.
With Tesorio, Kelly could quickly build detailed automated dunning campaigns and customize email messaging. Tesorio allowed her to create, save, and update campaigns with only a few clicks. This eliminated 90% of the manual work that WP Engine’s team previously spent on collections. The increased email touches and smarter processes yielded rapid results. “After we started using Tesorio, we noticed we were gettng a lot more replies and we saw a drop in customers going 15 days past due,” says Kelly.
Tesorio’s workspace allowed WP Engine to share and manage collections activities across the team. Detailed dashboards and filters helped Kelly and others prioritize collections efforts. Kelly could easily share the workspaces with the customer success team, which handles outreach to larger customers. This improved collections by enhancing coordination between the two teams, and offering a better customer experience. "We reduced Average Days Delinquent from 18 to 13 days, thanks in large part to Tesorio,” says Kelly.