The LCS Impact Awards

Individual Impact Award Winner: Alex Satizabal

Alex Satizabal – LCS Impact Award Showcase

“Using CI has been a game changer on how I see processes and projects on my end… it was interesting in learning how to identify an issue and not only figuring out the root cause but how to put a plan in place to avoid future issues. This has helped me see processes at a whole new level and now we have reporting in place for this and other projects I’ve been involved in to ensure everything stays on track.” – Alex Satizabal

Background

Accounts Receivable is responsible for the oversight of accounts, paying their invoices in a timely manner to ensure the organization meets their cash targets. Identified over a 3-month period in 2023, approximately 251 accounts had significant past due amounts totaling $3.8M.

Activity

To clean up past due balances, Alex began looking at each account to identify similarities between the accounts that would identify the root cause of the past due amounts. Alex was able to identify that the accounts with past-due balances did not have a collector assigned to them. The collector follows up with customers as their accounts are approaching past due status to obtain payments. This ensures satisfaction of cash targets.

Alex collaborated with his team beginning mid-June 2023 to identify, assign, and reassign collectors to the accounts. Completed with successful education and implementation within the Accounts Receivable team by late August 2023, he also created a daily aging report to keep track of unassigned accounts for the Accounts Receivable team to review.

He then collaborated with the customer on-boarding team resulting in the customer on-boarding team assigning collectors to new customers during the on-boarding process to prevent future past due balance issues. This work began in late August 2023, included education of the onboarding team and the accounts receivable team, and completed implementation in October 2023.

Impact

Due to the activities Alex completed, the Accounts Receivable department saw a 90% reduction in past due balances.