Case Study: Daimler
Daimler Trucks North America Drives Growth with Billing Solution
AR Automation Enables Business to Improve Working Capital
As Daimler’s fleet parts business continued to grow, they realized they needed a more robust technology solution to provide a higher level of premium support to its hundreds of dealers and customers, with more than 15,000 locations nationwide.
Partnering with Corcentric to manage our billing has consistently enabled us to not only achieve significant processing efficiencies, but to have the visibility to identify customer trends, forecast spend, and develop strategic initiatives that actually improve our working capital.”
~ Richard Simons, General Manager of Parts, Sales and Marketing
Recognizing that a higher level of digital expertise was needed to manage their extensive parts business, Daimler looked to Corcentric’s Billing Solution to provide a private commerce platform to transform their billing and support services across their dealers’ network and customers. Once the technology went live, it enabled more than 17,000 unique connections between the dealers’ and buyers’ ERP and point of sale systems. By normalizing hundreds of types of data formats across the business network and turning that data into a digital format, Corcentric’s Billing Solution transformed Daimler’s billing and support network, so they could focus on providing premium support to their fleet customers.
“From that point on they were able to move forward and show their customers what value they were bringing to them in terms of information and accuracy,” notes Corcentric Chairman and CEO Doug Clark. “Their increase in the marketplace, in market share, not only with new trucks but obviously with parts, combined with the sustainability and scalability of our systems and technology, combined with their discipline and preparation in preparing their customers and their dealers, turned out to be a winner.
Corcentric’s Billing Solution has contributed to a significant increase in annual revenue for Daimler’s parts and service program, and has also added to customer acquisition and retention. Daimler reports that the platform has enabled Daimler to sign new customers that otherwise would not have been possible. It also enabled Daimler to re-engage several major accounts that had previously been inactive but were willing to participate in a new, industry leading technology platform.
Less than two years after Corcentric’s Billing Solution was implemented, Daimler saw a substantial increase in invoices processed, a double digit growth in revenues realized, and an 86 percent decrease in disputes with no additional overhead needed to accommodate its increased parts business.
“Partnering with Corcentric to manage our billing has consistently enabled us to not only achieve significant processing efficiencies, but to have the visibility to identify customer trends, forecast spend, and develop strategic initiatives that actually improve our working capital,” says Richard Simons, General Manager of Parts, Sales and Marketing for Daimler Trucks North America.
Corcentric also assumes the credit risk of Daimler’s customers by paying Daimler for its customer’s purchases prior to the Billing Solution receiving payment from the customers. This has increased the payment speed to Daimler dealers drastically and eliminated the need for Daimler to seek payment from delinquent purchasers.
- Managed Accounts Receivable
- Centralized Billing for National Account Programs
- Supply Chain Finance
About the Company
Daimler Trucks North America is the largest heavy-duty truck manufacturer in North America and a leading producer of medium-duty trucks and specialized commercial vehicles. Daimler manufactures, sells, and services several renowned commercial vehicle brands under the Freightliner, Western Star, Detroit, and Thomas Built Buses nameplates. Daimler’s National Account parts division provides billing and support services to small, regional, and national fleets.
decrease in disputes