In the late 1990s, CompUSA Inc., one of the nation's top computer retailers, started to see substantial growth in its commercial accounts and, with it, substantial growth in past-due invoices. After struggling for several years with chasing down the delinquents and bulking up its collections department with an additional 83 people to do it, CompUSA finally went live with collection and dispute resolution software from GetPaid Corp. Within six months, its past-due dollars dropped to $2 million from $8 million, its Days Sales Outstanding (DSO)

fell to 46 from 52 and its collections staff was making 10 times as many customer calls a day. "It cues up faxes, letters, e-mails and phone calls, which allows us to contact every customer for every invoice," says Patrick Fitzgerald, CompUSA's senior director of corporate services. "That was something we just weren't able to do manually."

CompUSA recouped its initial investment within six months and has reduced its collections staff by 39% since adopting the software, Fitzgerald notes. Collecting cash faster has helped CompUSA borrow less, get more favorable bank loan terms when it does borrow and reduce bad-debt write-offs. And while the system has saved the company "several million dollars" in costs, it also has proved to be a plus for customers. "It makes our customers happier because they aren't getting calls six months after an invoice goes past due," Fitzgerald says.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.