Optimizing Accounts Receivable: A BayWa r.e. Success Story with Novutech's Dunning Solution

WHO IS BayWa r.e

BayWa r.e. is a pioneering force in the global Renewable Energy landscape, dedicated to rethinking how energy is produced, stored, and utilized. Based in 31 countries, with revenues of almost €6.5 billion and more than 5000 employees, BayWa r.e. delivers end-to-end project solutions and ongoing operations management, having successfully brought online over 5 GW of renewable energy (wind and solar) and currently managing an impressive 10 GW of assets. Notably, the company is also an Independent Power Producer with a growing presence in the energy trading sector.True to their commitment to sustainability, BayWa r.e. operates as a 100% carbon-neutral entity, actively engaged in their own sustainability journey. Collaborating with businesses worldwide, the company specializes in tailoring renewable solutions to meet the unique needs of their diverse clientele.

THEIR NEEDS

Already a NetSuite user for years, BayWa's selected our dunning solution because of their preference for a straightforward, flexible, and efficient approach to Accounts Receivable management. The Novutech SuiteSolution aligns with their needs by providing a customized and ready-to-use platform that enhances their ability to manage overdue balances and collections in a manner that suits their business requirements, avoiding all added complexity.

THE SOLUTION

Novutech's Dunning Pack, our own SuiteApp 100% integrated into NetSuite, is a comprehensive solution for efficient Accounts Receivable management. It addresses the crucial need for timely payment of open invoices through strategic procedures like dunning letters and direct communication. Particularly beneficial for larger enterprises managing extensive customer portfolios, the Dunning NovuPack provides a seamless and effective way to track and address outstanding debts. The primary objective is to offer clients a fully automated and easily tailored dunning process that prioritizes simplicity and efficiency, aligning perfectly with the preferences of businesses seeking a straightforward yet flexible approach to Accounts Receivable management.

THE BENEFITS

The main benefits that BayWa reported through the use of our Dunning solution, can be summarized as follows:

Simplicity and Efficiency

BayWa emphasizes the importance of simplicity in their Accounts Receivable management. Instead of opting for overly complex methods, they sought a solution that is straightforward yet highly efficient. Our Dunning NovuPack aligns perfectly with this requirement, offering a user-friendly and easily navigable platform for managing dunning processes without unnecessary complexities.

Flexibility

Understanding that each business has unique requirements, BayWa values a flexible approach. Our solution is designed to be adaptable, allowing for easy customization to meet the specific needs of BayWa. The dunning email templates and statement formats were fully adapted to BayWa’s preferences.

Automation

In the dynamic landscape of Accounts Receivable, automation plays a pivotal role. BayWa recognizes the importance of automating the dunning process to efficiently track overdue balances and send collection letters. Our solution provides a fully automated workflow, allowing BayWa to streamline their collections process and save valuable time and resources.

Ready-to-Use Solution

BayWa appreciates the convenience of a ready-to-use solution that doesn't require extensive setup or configuration. Our Novupack is designed to be immediately deployable, enabling BayWa to implement and start utilizing the dunning process without extensive lead times. This also includes the dashboard shortcuts and specific Dunning reports.

QUOTE

"Thanks to Novutech's Dunning solution, professionals can optimize their cash flow and reduce their customer payment times. This innovative and high-performing solution transforms accounts receivable management by automating the collection process. It's user-friendly, efficient, and flexible, adapting to users' specific needs. It also saves valuable time and enhances customer relationships. We highly recommend this Dunning Novupack to all professionals looking to optimize their accounts receivable management.” Patricia Prioleau, Accounting and Finance Manager at Baywa r.e"NetSuite offers a flexible solution that has allowed BayWa r.e. to expand internationally. Their integration with Novutech's Dunning has been a true catalyst for our operational efficiency, enabling us to focus on what matters most to us: transitioning to sustainable practices for the future of our planet." Loïc Bocquet, Operations Director at Baywa r.eDo you want to know more about our expertise and how we run NetSuite implementations? Contact usIf you want to know more about our Dunning Solution, explore these two articles: [Link1], [Link2].