Case Study: Faulkner Haynes
How a Commercial HVAC Company Reduced Their DSO
Faulkner Haynes, a company that provides commercial HVAC services, partnered with Levelset in mid-2018. Since then, the company has experienced benefits ranging from a massive reduction in its DSO (Days Sales Outstanding) to increased risk mitigation.
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The History
Sending a preliminary notice is required on each project at Faulkner Haynes to protect their right to file a lien in the case of nonpayment. However, gathering project information, creating notices, and then sending them, can make the process extremely challenging. No matter what method Chief Financial Officer Jason Emanuel tried to implement, the company was losing lien rights on a regular basis. Then, he hired Natalie Damico as Credit Manager in hopes of finally getting this process under control. Upon joining the team, Natalie quickly realized there was simply too much to be done manually and began searching for a solution. That’s when she found Levelset.
The Changes
Today, Natalie uses her expertise in conjunction with Levelset to successfully streamline the lien rights process and ensure every payment is protected. One of her favorite things about Levelset is that, with Scout Research, she’s able automatically populate the right information for notices without having to manually research or to push their sales team to collect this information upfront. Thanks to Natalie’s hard work and expertise (plus a little help from Levelset) their average DSO has gone from 70 days to around 50 days, and they are no longer losing lien rights on jobs.
The DSO definitely went down, but — at the end of the day — we are just more protected. We have a way to track our lien rights, and we have a way to make sure that our notices are sent on time. If you’re sending a notice on every job, you’re going to get paid faster."
Jason Emanuel, Chief Financial Officer at Faulkner Haynes
The Results
16,064
Projects Managed in Levelset in 4 Years
2,963
Documents Sent in 4 Years
8,309
Verified Job Details in 4 Years
The Solutions
Lien Rights Management
Our cloud-based, lien rights management platform allows you to seamlessly protect lien rights, track deadlines, file paperwork, and ultimately ensure payment on every job.
- Send your notices and lien waivers in bulk
- Receive alerts about upcoming paperwork deadlines
- Track all documents in a centralized, online location
Scout Research
Ensure your documents are sent to the right people, confirm your documents have accurate job information, and skip the hassle of tracking down job details.
- Access the most comprehensive job database in construction
- Get instant updates about who is on your jobs
- Partner with an expert research team to verify property information
Without Levelset, you’re going through a manual spreadsheet or using alerts in your email calendar to track notice deadlines, but Levelset eliminates that extra work."
Natalie Damico, Credit Manager at Faulkner Haynes
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