Key Takeaways:
Taboola, a market leading technology company powering recommendations for the open web, struggled with a fragmented global collections process that lacked visibility and consistency. By implementing OPYO, a financial operations solution, Taboola achieved:
- Enhanced global collections visibility and tracking.
- Data-driven risk management for informed decision-making.
- Streamlined collaboration and knowledge sharing between finance and business teams.
- Established and clear collection performance KPIs
- Improved collections efficiency and effectiveness.
Background:
Taboola, a leader in the advertising technology industry, helps advertisers and publishers grow their business through personalized recommendations. Managing their global collections process was challenging due to inconsistent collections practices across various regions, and difficulty in overseeing collection activities due to a lack of centralized data and reporting.
In pursuit of a solution for better collections management, the company turned to OPYO, a sophisticated financial management system. This case study discusses Taboola’s journey in overcoming these challenges using OPYO, with use spreading across functions and departments, with benefits that exceed streamlined collection management.
The Challenge:
Taboola relied on local collectors, in individual markets, who employed different collection methods. This made it very complicated for the central finance team to effectively oversee global collections. Furthermore, the absence of established Key Performance Indicators (KPIs) for collector performance hindered insights into collection efficiency. Ensuring data accuracy across regions was also challenging, especially where central finance-recommended processes were not fully adopted. Additionally, there was an opportunity to enhance HQ’s understanding of credit risk, as credit requests were primarily based on customer financial evaluations.
The Solution:
Taboola implemented OPYO, a financial operations software designed with the goal of streamlining and centralizing collections management. OPYO’s rich set of features was especially appealing for what Taboola was looking to achieve and included:
- A unified platform for global collections data, enabling real-time visibility and analysis.
- A set of risk assessment tools that leverage data to support informed credit limit decisions.
- Performance dashboards to track collector activity and identify areas for improvement.
Implementation:
Implementation of OPYO was designed with ease-of-use in mind, facilitating seamless integration with existing systems such as Netsuite CRM. One of the key advantages of OPYO is its automatic connection capabilities without any coding requirement , which streamline the process of retrieving data from Netsuite and other CRM platforms. This feature significantly reduces the time and effort required for data migration and integration, ensuring a smooth transition for collectors and stakeholders, while reducing IT risks.
The automatic connection feature of OPYO simplifies the implementation process, eliminating the need for manual data entry or complex integration procedures. This not only enhances efficiency but also minimizes the risk of errors associated with manual data transfer. By seamlessly integrating with Netsuite CRM and other CRM systems, OPYO enables collectors to access real-time data without disruption to their workflow.
Furthermore, the collaborative efforts between Taboola’s finance team and the creators of OPYO played a pivotal role in ensuring a successful implementation. Through effective communication and strategic planning, any potential resistance to change among collectors was addressed proactively. This collaborative approach fostered a positive environment for adoption, allowing for a swift and efficient transition to OPYO.
The ease of implementation and automatic connection capabilities position OPYO as a versatile solution capable of seamlessly integrating with any CRM platform, thereby empowering collectors with the tools they need to excel in their roles.
The Results:
Over time the use of OPYO, the data and dashboards it provides, served as a basis for risk assessment and management, as well as a key contributor to sales and business management decisions.
The use of OPYO has yielded significant improvements in Taboola’s collections process:
- Enhanced Visibility and Tracking: OPYO provides a centralized platform for global collections data, offering superior visibility and enabling in-depth analysis of collections activities across all regions.
- Data-Driven decision making: OPYO’s risk assessment tools empower Taboola to make informed decisions about credit limits and collections strategies, mitigating potential risks. Since starting to use OPYO, all credit data is centralized, and HQ can now easily view all BU and geographic credit exposure measures.
- Improved Collaboration: OPYO facilitates seamless communication and collaboration between finance and business teams, fostering a more efficient collections approach and eliminating unexpected customer defaults entirely. Since starting to use OPYO, the company improved overall collection, set smarter global KPI standards, and reduced unexpected customer defaults.
- Increased Efficiency and Effectiveness: By streamlining the collections process and providing valuable data insights, OPYO has demonstrably improved collections efficiency and effectiveness for Taboola.
- Standardization: All global credit requests are now included in OPYO in a standardized manner to support swift data-driven decisions.
Conclusion:
Through strategic collaboration and technological innovation, Taboola successfully transformed its financial operations with OPYO.
The company acknowledges improvements in metrics like Days Sales Outstanding (DSO) and Days Payable Outstanding (DPO), reflecting the positive impact on collaboration, risk management, and overall collections efficiency.
The system’s reliability and trustworthiness, coupled with robust support from its development team, solidified its position as a valued partner in Taboola’s journey towards financial excellence. With continued collaboration and innovation, Taboola is set for further success in the competitive digital advertising landscape.
