How Helpbox UK reduced payment costs by 58%

Problem

Due to rapid growth, accounting firm Helpbox was left managing invoicing and payments from thousands of clients through multiple providers. This resulted in high payment costs, delays in getting paid and excess time dealing with disparate systems.

Solution

Helpbox partnered with Adfin to centralise and streamline their invoicing and payment processes with all payment methods and chasing workflows in a single platform.

Results

Invoices paid faster: Three times as many invoices paid before / on due date.
Simplified operations: Consolidating 4 tools to 1 and eliminating manual workarounds between systems.
Cost savings: 58% reduction in payment collection costs after moving to Adfin.

Helpbox UK is a leading provider of accounting and bookkeeping services, working with thousands of SMEs across the UK. Key to their growth has been the mission to simplify and digitise financial management for their clients. However, as the firm expanded its client base, it became clear that their own invoicing and payment collection also needed simplifying.

Working with multiple providers for payments and invoice management not only drove up costs but also got in the way of their ability to collect payments promptly . That’s why Helpbox turned to Adfin for a solution that could grow with their business.

Growing pains with payments

Helpbox's invoicing and payment collection process was complicated by a system of solutions that had served the business well in its early days but were struggling with the pace of growth. This led range of issues, including:

Low payment success rates: A significant percentage of invoices were not being paid on time, driving up debtor days.
Time-consuming processes: The team were spending too much time managing invoices and chasing existing payments.
Excess software spend: Using multiple providers for different aspects of the payment process pushed up costs.

Laying new foundations

Helpbox partnered with Adfin to implement a single platform that combined card payments and invoice chasing with a best-in-class user experience.

Integrated invoicing: Invoice-chasing capabilities and automated payment reminders to drive faster payments.
Centralised platform: Moving from four different tools to a single, end-to-end solution.
Scalable processes: Creating a single, simple onboarding process to streamline customer acquisition.

Rapid results

Since implementing Adfin, Helpbox has seen significant improvements:

Improved payment success rates: 64% of invoices paid before the due date.
Efficient operations: Managing new and existing customers through a single platform for faster acquisition and reliable retention.
Cost-effective payments: Eliminating separate chasing and payment tools cut software spend by 58%.

Future-proofing payments for growth

Helpbox's partnership with Adfin hasn’t just solved their payment headaches, it’s positioned them for ambitious growth without worrying about their systems falling behind.

Adfin has proven to be more than just a tool for Helpbox—it's a strategic partner in their mission to deliver a better financial future for their clients.

"Working with Adfin feels like a dream scenario for a business owner - I've got a team of smart, dedicated people building software to solve my biggest business problems.”

Alex Eames, CEO, Helpbox UK

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How Helpbox UK reduced payment costs by 58% and simplified their operations with Adfin

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