Issue:
A national Restoration and Reconstruction company required assistance in developing and implementing new policies and processes nationally across multiple business units. Additionally, the company sought accounts receivable (AR) assistance for invoices that had aged beyond 60 days, with a focus on improving collections in the future.
Solution:
StoneTurn professionals collaborated with the company to assess current state practices and technology, conducting workshops to define future state requirements. Utilizing extensive experience in the construction and restoration industry, StoneTurn helped the company revise, document, and implement policies and procedures and facilitated training workshops to support employee adoption of new policies and processes. Separately, StoneTurn worked with company staff to identify and remediate recurring issues associated with the delayed collection of accounts receivable.
Results:
As a result of implementing enhanced policies and procedures, the company now has a standardized, repeatable, and measurable approach to delivering restoration and reconstruction projects and services. Further, the company meaningfully improved its accounts receivable collections process and significantly reduced the dollar value and number of invoices outstanding over 60 days.
