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Challenge: $500K in Bad Debt Annually

Peak Industrial is a leading provider of equipment and services for construction, transportation, and industrial operations. Despite its operational efficiency, the company was facing growing challenges in accounts receivable (AR). With $20M tied up in open balances, $500,000 lost annually to bad debt, and a DSO (Days Sales Outstanding) of 38 days, AR inefficiencies were creating cash flow problems that couldn’t be ignored.

“We were struggling with spreadsheets. We couldn’t keep track of all the customers we had to reach out to, because we were sending every payment reminder email manually,” said Ryan Oaks, Finance Director at Peak Industrial. “It was clear we needed a partner who could help us automate.”

The organization was eager to jump in, but they needed the right AR automation solution. Their non-negotiables: integration with their ERP, seamless functionality across the entire order-to-cash lifecycle, and support for customer needs like AP portal integration.

Billtrust stepped up to the plate, and then some.

Solution: Prioritized Queues and One-Click Reminders

“We could see from the demo that Billtrust could handle the scale we needed and help us move faster without adding people,” explained Oaks. “It all just clicked with how we run our business.”

Implementation moved fast, and the improvements followed just as quickly. Tasks that used to consume hours – such as manually drafting reminder emails or tracking balances in spreadsheets – were condensed to a few simple steps. With prioritized collections queues, centralized invoice access, and one-click reminders, the organization turned a reactive AR operation into a proactive one.

“Our team spent so much time digging through our ERP, copying invoices, writing messages, and chasing down payments. Now we go in, hit a button, and everything goes out. It’s a night and day difference.” 

Ryan Oaks, Finance Director, Peak Industrial 

Results: Speed, Savings, and Control

The impact went far beyond accounts receivable automation. Billtrust helped Peak Industrial transform their ERP system into a strategic advantage for accounts receivable – driving real speed, savings, and control. 

• DSO dropped from 38 to 20 days, unlocking 47% faster access to cash.
• The company’s AR balance was cut in half, freeing up $10M that no longer accrues interest on their credit line.
• Annual bad debt reduced by 60%, decreasing from $500,000 to under $200,000 thanks to automated collections follow-ups and customer engagement earlier in the process.
• One full-time employee and one temp were no longer needed. Billtrust’s solution doubled the AR team’s output, “essentially paying for itself,” explained Oaks.

“We went from not being able to keep up to becoming a high-performing department,” Oaks said. “AR went from being a pain point to a shining star – one of the most impactful areas of transformation in the company.”

“We started with $20 million in our total AR balance. Through Billtrust, that number is down to $10 million now. We were also able to save 50% of our time. So, the solution basically paid for itself.”

Ryan Oaks, Finance Director, Peak Industrial   

Customers are feeling the difference, too. With more than 19,000 invoices now delivered electronically, buyers no longer have to ask for invoices or statements. Billtrust’s self-service payment portal provides 24/7 access to everything customers need, reducing inbound support requests and improving satisfaction.

Smarter Payment Policies Generate $360K in Savings

Beyond technology, Billtrust stepped in as a true partner for Peak Industrial, helping the company rethink its payment strategy and capitalize on new opportunities. For example, the company was absorbing between $30,000 and $40,000 each month in credit card processing fees. Billtrust helped them implement a 3% fee on credit card payments and promote alternative methods like ACH. If a customer needed to pay via card, they would pay the fee. Otherwise, they could use a more cost-efficient payment method. The result? More than $360K in annual savings.

“Billtrust has revolutionized how we approach payments company-wide. Customers get flexibility, and we’re not eating unnecessary costs,” Oaks explained.

Future-ready and Built to Scale

As more of their customers adopt AP portals, Peak Industrial is confident they can keep pace with the demands of their buyers. Thanks to Billtrust’s broad AP portal support, the team is already planning future integrations that will further reduce manual effort and keep them ahead of the curve.

“If we lost Billtrust tomorrow, it’d feel like going back to the Stone Age,” Oaks reflected. “We’d be back to spreadsheets, manual outreach, and needing to hire more people – it would keep me up at night. With Billtrust, we’re more efficient, more strategic, and set up for long-term success. We’re looking at every part of the business to tighten operations and reduce spend, and Billtrust has been a key part of that shift.”