The case studies below show how others have benefitted from partnering with Lucrotec.
CLIENT: $1B+ Home Services/Construction Industry
National leader in home repair, replacement, and maintenance services specializing in heating, ventilation and air conditioning, plumbing, water, and electrical services.
B2B Supplier Payments with Lucrotec Drives New Revenue, Payment Security and Efficiencies
Acquisitions of diverse businesses in different geographies created payment inefficiencies for this rapidly growing client. Onboarding an ever-changing supplier cohort has its challenges. Many payments are to small businesses where payment automation was non-existent. Accounting practices were not standardized, and supplier data was outdated.
Lucrotec performed a detailed assessment on the Client’s accounts payable data and designed an implementation strategy to mirror the Client’s business unit structure. Starting with one entity to validate the business case and get operational experience, the Client quickly green-lighted the rollout of the remaining entities.
The Client went live with Lucrotec APeX. After processing thousands of transactions, the Client has been able to achieve significant bottom-line benefits along with other operational benefits including:
Over 400% increase to rebates over their legacy bank card program.
More than 6,500 “vendor master” updates resulting in greater data accuracy for the Client.
Standardized payment processing across all legal entities.
Deployed a standard “Know your Supplier” process.
The Client now has payment dashboards for payment visibility and awareness 24/7/365.
Check writing costs have decreased due to increased card acceptance and Lucrotec APeX’s lower check writing cost.
Implementing APeX for their new acquisitions increases economic leverage.