Geith International takes control of accounts receivable operations

Geith International is a leading provider of construction equipment, manufacturing and distributing high quality and bespoke products around the world. The company, well-known for its excavator attachments, operates a complex supply chain and customer network that includes major OEMs like Doosan Bobcat, independent dealers, and direct-to-end user sales.

Faced with difficulties around on-time payments, credit risk management, and internal resource constraints, Geith partnered with Corcentric to implement its Managed Accounts Receivable (AR) solution.

The challenge

With over 700 active dealer accounts in EMEA alone, ranging from small family-run businesses to large corporate distributors, Geith was struggling to manage the scale and variability of accounts receivable operations.

For the OEMs, while financially sound, there was often delayed payment due to administrative hurdles like invoice-receipt mismatches or low prioritization of lower-volume suppliers. For the dealer network, with accounts ranging from €2 to €10 million, it was even more unpredictable. Smaller dealers often had cash flow issues, larger ones acted similarly to OEMs, and those in the middle were a little more consistent with payment.

Creditworthiness was also a pressing concern, especially when smaller dealers landed large orders they couldn’t finance upfront. This resulted in a heavy burden being placed on Geith’s internal shared service teams – there were too many projects and not enough resources.

The solution

Geith has a longstanding relationship with Corcentric – thirteen years and counting . When they were looking for a solution that would free-up working capital, reduce financial risk, and streamline customer onboarding, payment terms, and accounts management, Corcentric stepped up to the plate.

With Corcentric Managed AR, Geith has a dedicated, experienced AR team that now handles:

• Credit checks for new and existing accounts
• Daily decisioning on account release and credit status
• Proactive collections and dispute resolution
• Standardized onboarding and communications with customers

From day one, Corcentric took full ownership of Geith’s receivables, including outstanding invoices that predated the launch. Customers were seamlessly enrolled into the program, and Corcentric began managing both legacy and current receivables. This ensured continuity for Geith’s customers and allowed Geith to reallocate internal resources. By fully assuming the collections workload from the start, Corcentric established an efficient process for managing receivables moving forward and as new customers have continued to be onboarded to the program.

Additionally, Geith’s ERP system shares account data with Corcentric twice a day. Corcentric then determines credit release status, keeping operations flowing and minimizing delays. In return, through Corcentric’s built-in API, real-time information on credit availability and maximum credit is available for complete visibility and facilitating future orders.

“We now have a clear process. AP management, disputes, resolutions—it’s all defined, and Corcentric is managing collections with our client base,” says John McKeown, Customer Service Manager at Geith International.

The results

Since implementing Corcentric Managed AR, Geith has seen impressive improvements across its accounts receivable operations and the company.

There’s been a significant reduction in account holds. Previously this was a daily issue in operations meetings, working to release accounts so product could ship, but these escalations now occur only once every couple of months, freeing up time and reducing friction across departments.

Customer service has also improved – a streamlined process has led to faster resolutions and fewer escalations. From an internal perspective, there’s been more effective use of resources. Team members who previously handled Geith’s collections have been reallocated to higher-priority tasks, especially in support of the Bobcat side of the business.

“Corcentric is a strategic, hands-on partner,” says McKeown. “It’s a purely dedicated and experienced team who’s allowed us to build customer relationships.”

The following is a numerical breakdown of Geith’s results:

• 31-day reduction in DSO (baseline was 90 and is now 59)
• Zero bad debt (prior to Corcentric it was €584K)
• 100% of transactions funded since implementation
• Average resolution time of 3.5 days across all types of queries (reduced from 15.8 days)
• €36.5M of credit line supported in 2025

Looking ahead, Geith is on a mission to fully digitize – from online ordering to AI-assisted automation – and is confident that Corcentric will be up to the task. Afterall, for Geith, Corcentric’s Managed AR solution isn’t just about collections – it enables scalability, strengthens cash flow, and supports long-term growth in a rapidly evolving global market.