Forecast bill payment
Development of an algorithm-based prediction model for the early identification of overdue invoices.
Reduce Days Sales Outstanding (DSO) by predicting the likelihood of overdue payment and thus addressing the customer at an early stage.
Integration of the forecasting process into the customer's existing infrastructure
Challenge
A pharmaceutical company wants to optimise its working capital by reducing the proportion of outstanding invoices.
Solution
An algorithm was developed to predict whether an invoice will be paid on time, and a cost function was created to optimise the threshold for recommended actions. In addition, the Algorithm adapted to specific markets.
Result
The result is a prototype that can be implemented directly in the sales process and which predicts a concrete recommendation for action at the time of purchase.
The handling is very easy due to an intuitive traffic light colour system.
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