fbpx
Home > Ninja Van Case Study

How Ninja Van reduced DSO by 12 days using Peakflo

How Ninja Van reduced DSO by 12 days using Peakflo

Ninja Van logo

Who is Ninja Van?
Technology- enabled logistics platform.

Peakflo customer since:
June 2021

Invoice per month:
5,000+

Background:
Ninja Van is a tech-enabled express logistics company providing hassle-free delivery solutions for businesses of all sizes across Southeast Asia. Launched in 2014, Ninja Van started operations in Singapore and has become the region’s fastest growing last-mile logistics company, powering businesses with innovative logistics solutions. Today, Ninja Van has grown its network to cover six countries: Singapore, Malaysia, Philippines, Indonesia, Thailand and Vietnam.

Challenges:

Pain PointInefficient processes of following up with their customers and resolving disputes.

Ninja Van is Southeast Asia’s leading logistics provider, with the highest service coverage in over 6 countries in the region. It has a presence across major ASEAN economies with over 30,000 customers and $100M+ in revenue.

It issues over 10,000 invoices/month to customers of different types and sizes (some small and some very large). But inefficient collection and payment reminder processes meant that they could not  collect their outstanding invoices fast enough. This was not only reducing their collection efficiency but also hampering their customer experience.

Pain PointLack of credit risk management and account receivable overview for the management

Apart from this, management lacked an overview of their account receivable and credit risk management process. This led to difficulties in cash flow and working capital management on a group level. In a business that involves sending 5000+ invoices per month, following with manual reminders and reconciling various bank statements for credit control checks doesn’t make sense. 

Hence, the primary use case for Ninjavan once it onboarded to Peakflo was:

  1. Collect unpaid invoices faster and improve productivity in the accounts receivable collection process
  2. Create a single source of truth of all communications with the customer, like a  Finance CRM, to be used for dispute resolution and credit controls
  3. Get an overview  of their account receivable and credit risk management process to improve cash flow and working capital management on a group level.

Solutions:

Increased collection efficiency by sending automated and personalised workflow-guided payment reminders.

Peakflo allowed Ninja Van to send multiple reminders to customers once their invoices went due. They also sent invoices before the due date.

“We have sent over 100,000 workflow-guided payment reminders to our customers and now collect our accounts receivable 10-15 days (~20%) faster on average”

Ritchie Wong, Group CFO, Ninja Van

Enabled a specialized Finance CRM to improve relationships with clients and customers

Using Peakflo, they have also created a customer timeline as an immutable audit trail of 2-way communication between client and customer. 

Provided more detailed and comprehensive reporting for better visibility and decision-making

Peakflo’s collection efficiency, customer status reports, and aging balance reports have provided better guidance and transparency.

Key Takeaways:

  • Peakflo seamlessly integrated into Ninjavan’s Oracle ERP and significantly improved their finance team productivity. It has now become an integral part of their overall credit risk management process. 
  • The Ninjavan finance team uses Peakflo to collaborate internally and with their merchant partners to manage follow-ups, dispute resolution, and payment tracking. The multitude of reports has also helped them keep a real-time and transparent AR overview.
  • In the past year, Ninjavan has sent over 100,000 workflow-guided payment reminders to their customers and has now collected our accounts receivable 10-15 days (~20%) faster on average