Supporting Better Financial Processes
YRH’s systematic review identified £90k of unbilled training services and helped implement credit control processes that reduced debtor days from 87 to 32. This is how we supported their financial operations.
The Starting Position
SkillWise provides professional development and compliance training through their SaaS platform. Serving corporate clients nationally, they engaged YRH to help with cash flow management.
The situation:
- Debtor days averaging 87 days
- Cash flow management challenges
- Billing processes needing review
- Growth requiring working capital
- R&D tax credits not claimed
Client website: www.skillwise.com
Our Review Findings
YRH’s initial review identified:
“£90k of training delivered but never invoiced”
Our work included:
- Billing process review
- Credit control implementation
- Cash flow forecasting
- R&D tax credit assistance
- Systematic improvements
Our Support Delivery
Phase 1: Immediate Actions (Weeks 1-4)
Initial improvements:
- Identified unbilled services
- Implemented billing reviews
- Started credit control processes
- Created cash forecasts
- Raised missing invoices
Phase 2: Process Implementation (Weeks 5-8)
Embedding improvements:
- Credit control procedures established
- Payment terms clarified
- Collection processes automated
- Reporting dashboards created
- Monitoring systems built
Phase 3: Ongoing Support (Months 2-3)
Sustained assistance:
- Debtor days monitored
- Monthly reviews embedded
- R&D tax credit claim prepared
- Cash forecasting maintained
- Continuous support provided
The Numbers We Identified
| Metric | Before | After Our Support |
| Debtor Days | 87 | 32 |
| Unbilled Work | Unknown | £90k identified |
| Cash Position | Constrained | £120k improvement |
| R&D Tax Credit | Unclaimed | £36k claim prepared |
| Billing Process | Ad hoc | Systematic |
Our Contribution
1. Systematic Review
Processes implemented:
- Monthly billing checks
- Invoice generation procedures
- Documentation standards
- Workflow automation
2. Credit Control Support
Structured approach:
- Collection procedures
- Payment term standards
- Follow-up processes
- Relationship maintenance
3. Financial Planning
Visibility provided:
- Cash flow forecasts
- Working capital analysis
- R&D tax assistance
- Regular monitoring
What SkillWise Says
“YRH transformed our cash position in just 60 days. Finding £90k of unbilled work was just the beginning – the systematic improvements they implemented mean we’ll never face that situation again.”
Managing Director, SkillWise
What YRH Provided
- Billing process reviews
- Credit control procedures
- Cash flow forecasting
- R&D tax credit support
- Ongoing financial assistance
Key Takeaways
- Regular reviews matter – Systematic checks find issues
- Processes improve collections – Structure helps cash flow
- R&D credits add value – Worth investigating eligibility
- Forecasting helps planning – Visibility enables decisions
- Expert support helps – External review finds opportunities
