How Hedin Automotive have improved their business with Spense
How Hedin Automotive have improved their business with Spense
How Hedin Automotive have improved their business with Spense
BY SPENSE
BY SPENSE
BY SPENSE
MAY 20,2024
MAY 20,2024
MAY 20,2024
7 MIN READ
7 MIN READ
7 MIN READ
Europe’s
Europe’s
Europe’s
largest mobility provider
largest mobility provider
largest mobility provider
>10K
>10K
>10K
Dedicated Employees
Dedicated Employees
Dedicated Employees
14 countries
14 countries
14 countries
with local operations
with local operations
with local operations
800+
800+
800+
sales points
sales points
sales points
45 brands
45 brands
45 brands
Hedin represents
Hedin represents
Hedin represents
Challenge
Challenge
Challenge
In Denmark Hedin owns and operates four workshops under the brand KOED. Their challenge was clear – many customers have over years been paying after key pick-up, often by invoice sent manually with days or weeks delay. This ad-hoc invoicing routine led to a problem with accounts receivables and hence a not optimal cash-flow. Moreover, this inconsistency extended to the customer experience, as invoicing and payment procedures were not integrated into the daily routine. Consequently, customers often found themselves waiting in reception for their turn.
In Denmark Hedin owns and operates four workshops under the brand KOED. Their challenge was clear – many customers have over years been paying after key pick-up, often by invoice sent manually with days or weeks delay. This ad-hoc invoicing routine led to a problem with accounts receivables and hence a not optimal cash-flow. Moreover, this inconsistency extended to the customer experience, as invoicing and payment procedures were not integrated into the daily routine. Consequently, customers often found themselves waiting in reception for their turn.
In Denmark Hedin owns and operates four workshops under the brand KOED. Their challenge was clear – many customers have over years been paying after key pick-up, often by invoice sent manually with days or weeks delay. This ad-hoc invoicing routine led to a problem with accounts receivables and hence a not optimal cash-flow. Moreover, this inconsistency extended to the customer experience, as invoicing and payment procedures were not integrated into the daily routine. Consequently, customers often found themselves waiting in reception for their turn.
Solution
Solution
Solution
Implementing a new routine combined with a digital payment platform, where every customer is invoiced up-front of key collection, allowing KOED to issue, collect and keep track of every payment in real time.
Doing this on all payments has led to the organization being proactive and conscious around the importance of collecting every payment, with more than 80% of all payments settled upfront and through a digital payment method.
With Spense, Hedin Automotive has solved many problems related to KOEDs operational problems.
Implementing a new routine combined with a digital payment platform, where every customer is invoiced up-front of key collection, allowing KOED to issue, collect and keep track of every payment in real time.
Doing this on all payments has led to the organization being proactive and conscious around the importance of collecting every payment, with more than 80% of all payments settled upfront and through a digital payment method.
With Spense, Hedin Automotive has solved many problems related to KOEDs operational problems.
Implementing a new routine combined with a digital payment platform, where every customer is invoiced up-front of key collection, allowing KOED to issue, collect and keep track of every payment in real time.
Doing this on all payments has led to the organization being proactive and conscious around the importance of collecting every payment, with more than 80% of all payments settled upfront and through a digital payment method.
With Spense, Hedin Automotive has solved many problems related to KOEDs operational problems.
CUSTOMER FEEDBACK
“Spense has made a significant impact on our business with regards to management insight and control. The dashboard provides us with a complete overview of status on all payments at any given time.”
IMPACTFUL ACTIONS
Up-front
invoicing
Up-front
invoicing
Up-front
invoicing
Digital Payment
Platform
Digital Payment
Platform
Digital Payment
Platform
Real Time Payment
Tracking
Real Time Payment
Tracking
Real Time Payment
Tracking
Result
Result
Result
KOED has strengthened their business by making enhancements in numerous aspects. Invoicing is now part of the daily routine and all customers have the opportunity to settle their invoice prior to key pick-up. KOED has received great feedback from customers who love that they can choose payment methods at their convenience. And by paying upfront, customers experience significantly reduced waiting time in the reception area. With timely invoicing, accounts receivable have seen a significant decrease as every service advisor maintains better control over each payment. Gaining complete insight into every payment streamlines processes, saving time, and notably cuts down on costs related to managing accounts receivable.
With full visibility into all payments, time is saved, and costs associated with accounts receivables management are significantly reduced
KOED has strengthened their business by making enhancements in numerous aspects. Invoicing is now part of the daily routine and all customers have the opportunity to settle their invoice prior to key pick-up. KOED has received great feedback from customers who love that they can choose payment methods at their convenience. And by paying upfront, customers experience significantly reduced waiting time in the reception area. With timely invoicing, accounts receivable have seen a significant decrease as every service advisor maintains better control over each payment. Gaining complete insight into every payment streamlines processes, saving time, and notably cuts down on costs related to managing accounts receivable.
With full visibility into all payments, time is saved, and costs associated with accounts receivables management are significantly reduced
KOED has strengthened their business by making enhancements in numerous aspects. Invoicing is now part of the daily routine and all customers have the opportunity to settle their invoice prior to key pick-up. KOED has received great feedback from customers who love that they can choose payment methods at their convenience. And by paying upfront, customers experience significantly reduced waiting time in the reception area. With timely invoicing, accounts receivable have seen a significant decrease as every service advisor maintains better control over each payment. Gaining complete insight into every payment streamlines processes, saving time, and notably cuts down on costs related to managing accounts receivable.
With full visibility into all payments, time is saved, and costs associated with accounts receivables management are significantly reduced
Less waiting
Less waiting
Less waiting
time for customers
time for customers
time for customers
Significant
Significant
Significant
reduction in accounts receivable
reduction in accounts receivable
reduction in accounts receivable
Improvement
Improvement
Improvement
in customer & employee satisfaction
in customer & employee satisfaction
in customer & employee satisfaction
Instant
Instant
Instant
invoicing for all customers
invoicing for all customers
invoicing for all customers
Overcoming Obstacles
Overcoming Obstacles
Overcoming Obstacles
The key has been to establish a new set of routines, supported by the management and Hedin Automotive. With Spense, KOED now has a Payment Platform enabling them to timely invoice all customers.
Implementing new processes can often be challenging, yet with Spense, employees have perceived the change as something positive.
Support is important when it comes to implementing new software and Spense provides this for KOED. Through digital meetings and training sessions, KOED have been able to enhance the adoption process and maximize the return on investment.
The key has been to establish a new set of routines, supported by the management and Hedin Automotive. With Spense, KOED now has a Payment Platform enabling them to timely invoice all customers.
Implementing new processes can often be challenging, yet with Spense, employees have perceived the change as something positive.
Support is important when it comes to implementing new software and Spense provides this for KOED. Through digital meetings and training sessions, KOED have been able to enhance the adoption process and maximize the return on investment.
The key has been to establish a new set of routines, supported by the management and Hedin Automotive. With Spense, KOED now has a Payment Platform enabling them to timely invoice all customers.
Implementing new processes can often be challenging, yet with Spense, employees have perceived the change as something positive.
Support is important when it comes to implementing new software and Spense provides this for KOED. Through digital meetings and training sessions, KOED have been able to enhance the adoption process and maximize the return on investment.
CUSTOMER FEEDBACK
“Previously, service advisors experienced challenging days. With Spense, employees are less stressed and the employee satisfaction has actually increased”
One platform for all payments
One platform for all payments
One platform for all payments
Spense helps KOED streamline their payment process with an innovative technology, creating a digitized end-to-end process, boosting efficiency for the team while leaving customers satisfied.
Providing customers with a cutting-edge digital payment experience, KOED now has a platform that supports multiple payment providers. This secures optimal business solutions.
Spense helps KOED streamline their payment process with an innovative technology, creating a digitized end-to-end process, boosting efficiency for the team while leaving customers satisfied.
Providing customers with a cutting-edge digital payment experience, KOED now has a platform that supports multiple payment providers. This secures optimal business solutions.
Spense helps KOED streamline their payment process with an innovative technology, creating a digitized end-to-end process, boosting efficiency for the team while leaving customers satisfied.
Providing customers with a cutting-edge digital payment experience, KOED now has a platform that supports multiple payment providers. This secures optimal business solutions.
CUSTOMER FEEDBACK
“Offering a complete range of payment methods, including the popular local card Dankort and the wallet Mobilepay, has been very popular among our customers”
GAINS
Streamlined Dealership Operations
Streamlined Dealership Operations
Streamlined Dealership Operations
Enhanced customer satisfaction
Enhanced customer satisfaction
Enhanced customer satisfaction
Optimal payment solutions
Optimal payment solutions
Optimal payment solutions
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