From transmission belts to electric motors, 3BG Supply Co. (an acronym referring to its founders, the “three bald guys”) helps customers purchase industrial MRO products without the hassle. By developing technology to improve an industry rife with inefficiencies and decades-old business practices, 3BG Supply effectively ships products factory-direct from hundreds of suppliers nationwide, ultimately offering familiar products to customers at a much power price. Modeling their customer’s user experience on familiar retail websites such as Amazon and Zappos, 3BG aims to create a platform in which customers can source, identify, and interchange products between various manufacturers in a matter of seconds. As their business expands, their motto, “Simplify and Supply,” has come to extend to all aspects of their business, including their internal AR Management process.
Transforming the AR Management Process
Upon joining 3BG Supply Co. nearly four years ago, Jeff Gruettert quickly rose from intern to Operations Manager. As he took on greater responsibility and integrated new polities, Mr. Gruettert identified an urgent need to streamline the company’s AR Management process.
“Our process was a nightmare,” Gruettert reflected. “Everything was manual. There were no procedures in place whatsoever.” Between ensuring the business’ fluidity, to project management, planning, and development, Gruettert simply didn’t have the time to function as the company’s Accounts Receivables department and comb through 160 invoices each month on top of his other responsibilities.
Eight months ago, Mr. Gruettert integrated the company’s Quick Books with Funding Gates’ Accounts Receivables Manager, which he has described as a “game changer.”
“The beauty of Funding Gates Receivables Manager is that it’s scalable,” Mr. Gruettert noted. “I can easily pass off this process to an office admin as our business grows. It’s so streamlined and intuitive that it doesn’t require any training.”
Mr. Gruettert noted that the Receivables Manager saves his team approximately three to seven hours per week—time that is better spent providing customer service (and cracking bald jokes, internally).
Improved Customer Relations
Aside from streamlining the AR Management process and creating a system that allows for “pinch hitters” to take the reigns whenever necessary, Mr. Gruettert has noted that relationships with their customers have improved as a direct result of using a few of Funding Gates’ communications tools.
“My customers have reported back that they like that they can see the invoices that they’re being reminded about. It makes the reminder a lot more effective, and it makes the relationship that much easier to manage,” Gruettert explained.
The customized templates further allow Gruettert and team to add their company’s own verbiage while still ensuring that the follow-up process remain consistent and efficient.
“If I had to guess, I’d say that we’re seeing 30-40% better payment rates soon after we discovered the receivables manager,” Gruettert noted.
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