Scicluna’s halved overdue receivables and cut debtor days by 35% on 7-day produce terms
A fresh produce wholesaler with about 80% of customers on 7 to 30-day EOM terms connected PencilPay to MYOB Acumatica to onboard venues, contract every account and collect each weekly invoice automatically. Overdue receivables halved and average debtor days fell 35%.
- Customer
- Scicluna’s
- Industry
- Food suppliers
- Location
- Australia
- Payment terms
- 7 to 30-day EOM, about 80% of customers
- PencilPay products
- Pencil Trade, Pencil Pay, Pencil Finance
- Integrations
- MYOB Acumatica, Fresho
- Headline result
- 50% lower overdue receivables
Before PencilPay
Scicluna’s has supplied fresh fruit and vegetables to wholesale and retail customers since 1963. As part of a systems modernisation led by Mark Belkin of Stratus Group, the business implemented MYOB Acumatica across every department and added Fresho for produce ordering.
That stack handled ordering and operations but not cash flow. Fresho took payment from prepaid customers, yet roughly 80% of the customer base traded on terms between 7 days and 30 days end of month. Fresh produce is invoiced per order, several times a week, so statement-based billing left venues with large accrued balances and the business with a growing list of overdue debtors. The COVID-19 lockdowns then cut food service revenue sharply while grocery trade rose.
What Scicluna’s implemented
Found in the MYOB Acumatica App Store
The operations team selected PencilPay to address customer onboarding, credit management and payment processing for customers on terms. Implementation and integration with MYOB Acumatica were completed quickly with Stratus Group, alongside training for sales, operations and accounts.
Every customer contracted
New and existing customers completed a credit application and supplied a payment method, credit card or direct debit, so every account on terms carries a payment authority.
Automatic billing per invoice
Custom account application forms onboard customers quickly and store bank or card details securely. An invoice raised on 7-day terms on a Monday is charged automatically the following Monday, smoothing cash flow across the week.
What changed
Overdue receivables halved
Since implementation, total overdue receivables have fallen by half.
Debtor days down 35%
Average debtor days decreased by 35% and the cash cycle accelerated.
Admin halved
Time spent onboarding customers, entering data and manually matching payments was cut in half, from sales sign-up through to reconciliation.
About this story
What systems does Scicluna’s run alongside PencilPay?
MYOB Acumatica as the ERP and Fresho for fresh produce ordering. PencilPay was found in the MYOB Acumatica App Store and integrated by Stratus Group.
How are 7-day produce invoices collected?
Each invoice is charged automatically to the customer’s stored card or bank account when its 7-day term ends, for example a Monday invoice is collected the following Monday.
What were the results for Scicluna’s?
Total overdue receivables halved, average debtor days fell 35%, and onboarding, data entry and payment matching time was cut in half.
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